Facebook founder “defriends” the U.S. over taxes. Est-ce M. Hollande écoute?

- May 12th, 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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  1. JFJ says:

    Not surprising. Obama is a kleptomaniac. He views the wealth of others as his to channel to those who haven’t earned it.

  2. Bob Tarplett says:

    So French investors and entrepreneurs want to leave France because of the election of Socialist Monsieur Hollande. Why don’t we (Canada)invite them to settle in Quebec where taxes are equal to or less than those of the UK (No inheritence tax!)and that they share the same language and culture so they could settle in Quebec with minimum effort!

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