This bill will do nothing to folks such as those mentioned in this article. It will only increase the flight from our country and they will all raise the middle finger since they’ll never have to come back to this country nor touch any operations that have any kind of business nexus in it either. F-U money is what these folks have and they will utilize said Middle Finger power quickly.
Theres dumb and then theres real dumb. This is in the latter category:During the 2012 election cycle Democrats are positioning themselves as the “defenders of the middle class,” and Sen. Bob Casey Jr. is honing that message by attacking the top .001 percent of income earners, including Facebook co-founder Eduardo Saverin.Along with NY Sen. Chuck Schumer, Casey is introducing a bill that would prevent U.S. citizens from renouncing their citizenship in order to avoid taxes.Good luck Senators.People with enough money to care about this also wont care about your bill. Theyll leave, take their money with them, and never come back. You can chuckle about how “you got them” but the truth is that they got you, and all of America.Theres a point where people get what is commonly called “fuck you” money. As the name implies it enables them to say exactly that to anyone they disagree with and who pisses them off — including petulent little Senators and their petty games. Facebooks co-founder has no reason to come back into the United States, and you cant reach him beyond our borders, so what I expect youll see is a giant middle finger erected in your direction — from Singapore.There is no material revenue impact from this bill that will be forthcoming. There will, however, be a capital drain that will accelerate and harm America.And when it does, it will be your fault.