Sunday, November 18, 2012

Renounce US citizenship, and make $

Facebook cofounder Eduardo Saverin has renounced his US citizenship. Doing so, he will probably save at least $67 million in taxes.

WSJ article link 
Saverin isn't alone in this out-of-the-box thinking.
Last year, almost 1,800 U.S. citizens turned in their passports and green cards, a sixfold increase from 2008. 

As the future of US municipal debt look relatively bleak, local governments have expectedly escalated tax burdens upon the taxpayers. This however has not spooked the investors necessarily, according to Barron's Advisor Sentiment Polls.

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