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I agree. Too many rules strangling business. And some of you want more and like all that intrusive state licensing! 
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Eduardo Saverin, the Facebook co-founder who gave up his U.S. citizenship, has nothing against the U.S., just its complicated rules on U.S. citizens holding money overseas, a spokesman said.
Mr. Saverin, who now lives in Singapore, decided last year to renounce his U.S. citizenship, a decision that was made public a few days ago. The move sparked an outcry among some tax experts who suspect he’s aiming to save on taxes. Although Mr. Saverin will have to pay a hefty exit tax for renouncing his citizenship, based on some calculation of his assets, Singapore is a relatively low-tax jurisdiction, particularly for foreign investors, and does not levy capital gains tax. Thus he could save in the longer term.
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Read the full article here
Eduardo Saverin, the Facebook co-founder who gave up his U.S. citizenship, has nothing against the U.S., just its complicated rules on U.S. citizens holding money overseas, a spokesman said.
Mr. Saverin, who now lives in Singapore, decided last year to renounce his U.S. citizenship, a decision that was made public a few days ago. The move sparked an outcry among some tax experts who suspect he’s aiming to save on taxes. Although Mr. Saverin will have to pay a hefty exit tax for renouncing his citizenship, based on some calculation of his assets, Singapore is a relatively low-tax jurisdiction, particularly for foreign investors, and does not levy capital gains tax. Thus he could save in the longer term.
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