Didn’t get a chance to mention this story yet, but this is my take exactly:
As is well known now, Facebook co-founderEduardo Saverin recently renounced his U.S. citizenship. Though no specific reason was given by Saverin for his decision, wise minds could very credibly proclaim him an American hero for doing what he did.
Indeed, Saverin’s U.S. “de-friend” is great for economic growth on its face, and then the political implications of his move will hopefully pay future taxation dividends that accrue to entrepreneurialism and advancement. Media members will vilify Saverin, but hysteria from that quarter is to be expected.
Saverin’s essential maneuver will at first glance hopefully get Americans thinking once again about our wrongheaded system of taxation. As it stands now, Americans, through taxes levied on income and capital gains, are explicitly forced to “prove” their income to the IRS.
Think about the above for a moment. A nation founded on skepticism about politicians and government now has as one of its most powerful institutions a revenue agency meant to badger its citizens about how much they owe a government utterly contemptuous of constitutional limits. To this insatiable beast, Saverin is apparently saying no. Good for him!
Amen. The misbegotten Leviathan we’re currently tyrannized by isn’t one worthy of any truly free individual’s allegiance, affection or respect, as I’ve said here several times already. The slogan “I love my country, but fear my government” has never been more apt. The more of us wake up to the sad reality of it, the better, and it can’t happen too soon. The rest of the article is likewise right on the money, and I highly recommend it. In sum:
In Saverin’s case, his decision to renounce his U.S. citizenship will have a definite impact, and for that, those of us who seek smaller government should view him as a hero. Saverin’s decision will starve the feds of revenue they would almost certainly waste, it will force a rethink of a tax code that penalizes income and investment success, and the unconsumed dollars kept from the hands of government will reach today’s and tomorrow’s businesses. Let’s raise a glass to Eduardo Saverin. He’s a true American hero.
Done and done.