Facebook founder ‘defriends’ U.S. over taxes. Something for M. Hollande to take note of?

- May 13th, 2012

Two news items. Draw your own conclusions. From the New York Times:

Eduardo Saverin, one of the founders of Facebook, officially defriended the United States in September, giving up his American citizenship for the more tax-friendly residency status of Singapore.

Mr. Saverin, who was born in Brazil and has lived in Singapore since 2010, plans to remain in the Asian island nation indefinitely. Singapore has a maximum personal income tax rate of 20 percent and no taxes on capital gains

via A Facebook Founder Renounces His U.S. Citizenship – NYTimes.com.

and from Bloomberg:

More wealthy French people are considering moving to the U.K. if Socialist candidate Francois Hollande wins the presidency and fulfills a pledge to raise taxes on incomes of 1 million euros ($1.3 million) or more to 75 percent, the Financial Times said.

London-based wealth manager Vestra Wealth said inquiries from French clients has climbed about 40 percent, the newspaper said. London’s prominence as a financial center combined with concerns about Hollande’s plan to tax the wealthy is spurring French professionals to consider moving, the FT said.

Categories: Economy

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2 comments

  1. Stephen Smith says:

    No gum chewing, canning, restricted internet, questionable food and then there’s Singapore.

  2. Standford says:

    Doesn’t matter where you live in the world the rich want to get richer and drive the poor further into the ground.

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