These people really are totalitarian thugs. In the wake of the high-profile announcement that Facebook co-founder Eduardo Saverin is renouncing his US citizenship in advance of the company’s potentially record-breaking IPO, leftist Senators Chuck Shumer and Bob Casey have announced legislation to effectively make it a crime to leave this country. Who needs barbed wire or guard towers when Shumer and Casey are on the case?
At a news conference this morning, Sens. Schumer and Bob Casey, D-Pa., will unveil the “Ex-PATRIOT” – “Expatriation Prevention by Abolishing Tax-Related Incentives for Offshore Tenancy” – Act to respond directly to Saverin’s move, which they dub a “scheme” that would “help him duck up to $67 million in taxes.”
The senators will call Saverin’s move an “outrage” and will outline their plan to re-impose taxes on expatriates like Saverin even after they flee the United States and take up residence in a foreign country. Their proposal would also impose a mandatory 30 percent tax on the capital gains of anybody who renounces their U.S. citizenship.
The plan would bar individuals like Saverin from ever reentering the United States again.
This is so outrageous on its face that Shumer and Casey should be permanently barred from any position with even a hint of legislative authority. Any voter who attempts to return them to office should realize they are complicit in the creation of a tax-gulag in this country.
Where I choose to live and where I apply for citizenship and foundational inalienable rights. The US is already one of the only countries to tax a citizen’s overseas income. It is already one of the few to make citizens pay an “exit fee” if they renounce their citizenship. Now, we want to criminalize the act? To permanently bar someone from every visiting here again?
What does it say about a country when it doesn’t allow its free citizens to leave? In North Korea or Cuba, they shoot you. Shumer and Casey want to put us slightly further down that road.