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Originally posted by 00nunya00
Just to play devil's advocate, what about the argument that the US and all of its tax-funded benefits like education were the reason this guy was able to make his money in the first place, and it's exactly that kind of money-before-country mindset that has fleeced small Americans of the returns they are due for their investment in the very infrastructure that made Facebook possible? How is it fair that this guy gets to go to school for over a decade on the backs of little guys, then has the opportunity to go to a really good college and take advantage of the amazing business opportunities this country has to offer, but gets to take all of his profits built on that foundation and screw the rest of us out of the EXACT POINT of why we invest in tax-funded programs in the first place? We don't invest in education so that we can make mediocre tax gains from those kids' salaries, we fund it so that we create a few millionaires who will one day give back what they received with interest. If we planned on taxes just from middle-class future workers, we'd have been broke a hundred years ago. Millionaires benefit from the system, and they should give back to the system, not take their ball and go home once the rules kick in.
He knew the capital gains laws when he started the company, so if he didn't like them he should have gone to Singapore to start Facebook and tried his luck there. It would be a flash in the pan if he had.edit on 17-5-2012 by 00nunya00 because: (no reason given)edit on 17-5-2012 by 00nunya00 because: (no reason given)
Someone else already pointed out that some of those who are living outside the US are those who are "redistributed to" (they are often on social security, and may find some minor work in another country), so that a blanket attempt to make sure that the "wealth is spread" will ultimately take away from those we're spreading the wealth to. There is no one-sizing with this solution, without destroying what our intent was.
Originally posted by SeekerofTruth101It is to redistribute wealth to share amongst citizens, so that none gets left behind, and everyone gets a chance and opportunity in life.
you're an American fleeing to China where you'll spend all of your American-earned money instead of spending it back into the American economy.
If your citizenship is worth less to you than your money,
If you find a single country on Earth where all of your idealistic standards exist, let me know.
but don't expect America to suckle you and your wallet anymore.
Originally posted by 00nunya00
Originally posted by 2manyquestions
Originally posted by 00nunya00
reply to post by TheBandit795
Yes, EXACTLY! They hate America so much, but they want to continue making money off it? Are you serious?edit on 23-5-2012 by 00nunya00 because: (no reason given)
Why should it be about hating America instead of hating its' Government's policies? For example I love America and what the Constitution stands for, but I hate the people who pervert the Constitution and use their power to intimidate American citizens. I loved my former country where I was born and I still do, but I don't like what the people in power did to that country and it's citizens. Sometimes when you're one in a million who sees a problem developing and you're willing to make a change but can't because there's not enough of you, best thing you can do is get the hell out of dodge. Maybe you can work behind the scenes to make a change from a safe distance and return when the rest of the population has finally woken up to the abuse and is ready to fight for it's freedoms. Just because somebody chooses to leave the U.S. doesn't mean that person hates America, it just means they can't see eye to eye with the current administration. What's wrong with that? Supposedly we're free and should be able to pick up and go wherever we want without anyone holding us by a leash.
I absolutely understand about loving America but hating the current powers----that's why we work to change things, take to the streets if needed, because our country is worth fighting for. People who would rather just abandon it and give up and move somewhere else *and relinquish their citizenship* forfeit their right to suckle off its economic teat. You can leave all you want, live elsewhere for the rest of your life. That's fine. Renouncing your citizenship is a whole different level.edit on 23-5-2012 by 00nunya00 because: (no reason given)
Originally posted by 00nunya00
reply to post by 2manyquestions
And that's the point, if you feel like America is torturing you or keeping you down, by all means, leave! No one is keeping you! You don't get to take your entire stash that you made right before you decided it was "torture" instead of "a good place to start and run a company and then take it public"
and you certainly don't get to make tax-free money off your US-based company's profits----no matter where you live, if YOUR company is profiting off the US system, YOU are profiting off it too. Sorry, but that's taxed. No one is forcing you to keep your company in the US, or to retain ownership of your company. You can't have your tax-free cake and eat it too.
edit on 31-5-2012 by 00nunya00 because: (no reason given)
Originally posted by 2manyquestions
Originally posted by 00nunya00
reply to post by 2manyquestions
And that's the point, if you feel like America is torturing you or keeping you down, by all means, leave! No one is keeping you! You don't get to take your entire stash that you made right before you decided it was "torture" instead of "a good place to start and run a company and then take it public"
The subject of this thread is a proposal of a law that simply refuses to let you go, and wishes to force you to continue to pay taxes to this country despite the fact that you want to give up your U.S. citizenship. Maybe I'm wrong, but that's how it sounds to me.
I don't see anything wrong with keeping what you have earned, especially when you're living outside of this country and aren't benefiting from it's social programs, public roads, offices and so forth. Honestly... I don't understand this mentality that my earnings should belong to the American people or it's Government when I am no longer a citizen there. While I live here and while I benefit from tax-funded services, I am also paying my taxes. I put in my share while I live here, but I don't see why I should have to continue to pay those taxes when I am no longer living in the U.S. It makes no sense to me.
and you certainly don't get to make tax-free money off your US-based company's profits----no matter where you live, if YOUR company is profiting off the US system, YOU are profiting off it too. Sorry, but that's taxed. No one is forcing you to keep your company in the US, or to retain ownership of your company. You can't have your tax-free cake and eat it too.
edit on 31-5-2012 by 00nunya00 because: (no reason given)
What you're saying makes no sense. U.S.-based companies still have to pay taxes to the U.S. The company is not tax-exempt just because one of it's founders decided to live somewhere else in the world. Why should his personal earnings be taxed when he is not profiting from tax-funded services?
Would you rather they move the company overseas and we lose jobs and the tax revenue here? The U.S. is not the only place in the world where starting or running a business is possible. I guess you'd be happier if all the productive members of our society just left the country rather than give them incentive to stay here. Instead of examining the way things work here and fixing what's wrong, you'd rather increase the pressure and punishment?
Originally posted by 00nunya00
You *are* wrong about that. This bill says "if you want to leave, STAY GONE." Doesn't sound like holding on to me, sounds like "fine, leave, but you don't get to screw us on your way out."
The US isn't taxing money you make outside the US, it's taxing the money you make inside the US. Just because you live in Singapore (and pay taxes into *their* system with your *American* money) doesn't mean that your company which resides in the US (and DOES benefit from the tax-funded system) isn't making US money.
The owner is making his own profits off the company, which he skims from the overall profits. If he lived in the US, his company would pay corporate taxes and he would pay income taxes. He's not moving his company because despite the taxes, his company wouldn't do nearly as well in any other country in the world..
Yes, I dare them to move their companies overseas and see how that works for them. I dare them to try to start a company in another country and see how well it does compared to a company started in the US.
I'd be happier if everyone knew from the get-go that you don't get to turn the game board over right when the other guy is about to get payback. I'd be happier if these p*ssy millionaires would use their new-found power and wealth to CHANGE the system instead of just quitting it and abandoning the rest of us. I'd be happy if we all started WORKING towards something instead of just running away all the damn time. Why should *I* care about changing the
Originally posted by 2manyquestions
The bill wants to punish people for leaving. Baring a person from returning to the U.S. simply because they want to live elsewhere in the world? Sounds like Communism.
Who are you screwing over by leaving the country and continuing to invest in American companies???
Let's examine current U.S. tax policy for a moment.
This myth that the U.S. is THE best country in the world to establish a business in needs to be dispelled quickly. Things are changing. Currently the U.S. rates as #4 on the list of business-friendly places. We have competition and we better realize it soon. With more regulations, more taxation and harsher punishments the U.S. might one day wake up to it's economic demise as many of the most productive members of society say good-bye.
You know what you have to realize? That not all millionaires are bad guys and they have a right to the money they earn.
Originally posted by 00nunya00
But that's not what you argued; you argues that the bill was forcing people to stay----it doesn't. Bring out all the scary buzzwords you want, but it still is not, as you said, forcing anyone to stay.
Again, we're not talking about those who choose to *live* abroad, we're talking about those who choose to * give up their citizenship*. Big difference between living abroad and renouncing your citizenship to avoid taxes.
Again, I'm not arguing the tax policy is great----it sucks! But the solution is not to just quit, the solution is to take your money and power and CHANGE the system, leaving it better than you found it.
Not just leeching off it and then expelling yourself to go leech off another country. Just like with illegal immigration---we know the immigration system sucks, but the solution is not to just turn a blind eye to illegal immigrants and laws, the solution is to change the laws and enforce them.
Didn't see anyone at Facebook complaining about that beforehand. Crying about it now is disingenuous at best.
And you know what you need to realize? You don't know my feelings or motivations any more than exactly what I've told you, and when you make the assumption that I hate all millionaires or think they're all bad guys,...