BUSINESS
May 18, 2012 | By Jim Puzzanghera, Los Angeles Times
WASHINGTON - Eduardo Saverin fled Brazil as a boy and lived the American dream by helping found Facebook Inc. Now two U.S. senators want to make sure he never sets foot in the U.S. again unless he pays tens of millions of dollars in taxes he will owe after the company's initial public offering Friday. Saverin renounced his U.S. citizenship this year and is living in Singapore, a country with no capital gains tax. Sens. Charles E. Schumer (D-N.Y.) and Bob Casey (D-Pa.) denounced him Thursday as a tax dodger and introduced legislation to punish anyone who gives up citizenship to duck big tax bills.
OPINION
May 16, 2012
Re "Tax-savvy move by Web firm pioneer?," Business, May 12 Even jokingly suggesting that Facebook Chief Executive Mark Zuckerberg leave the United States and give up his U.S. citizenship to avoid paying his taxes really disgusted me. Indeed, he owes the United States and California a deep debt of gratitude for providing the comfort, the resources and the social and economic climate that enabled him to indulge his creative juices. Leaving the country to evade taxes is just as immoral as moving one's business out of the country.
OPINION
May 16, 2012 | By Bruce Ackerman
Is citizenship a commodity, to be bought and sold when the price is right? Eduardo Saverin, co-founder of Facebook, thinks so. After becoming an American 14 years ago, he has traded his citizenship in the country that helped make him rich for the low-cost Singapore product. According to the New York Times, he denies making the switch for pecuniary reasons, but it's hard to believe. He stands to gain $4 billion from Facebook's imminent public offering, which has to make Singapore tax laws enticing.
NATIONAL
May 11, 2012 | By Kim Geiger, Los Angeles Times
WASHINGTON — One day after calling her dual Swiss-U.S. citizenship a "non-story," Minnesota Rep. Michele Bachmann asked the Swiss government Thursday to take her name off its rolls. "I am and always have been 100% committed to our United States Constitution and the United States of America," said Bachmann, a tea party favorite and former candidate for the Republican presidential nomination. Swiss citizenship was automatically conferred in 1978 when she married Marcus Bachmann, the son of Swiss immigrants, she said, and the recent news was merely because she and her family had updated their documents.
NEWS
May 10, 2012 | By Kim Geiger
WASHINGTON -- Minnesota Rep. Michele Bachmannhas withdrawn her Swiss citizenship after news that she and her children had recently applied for Swiss papers caused a stir. Referring to the Swiss citizenship as an “automatic” designation conferred upon her when she married her husband Marcus Bachmann, the son of Swiss immigrants, Bachmann said she was withdrawing the citizenship to make clear her allegiance to the U.S. “Today I sent a letter to the Swiss Consulate requesting withdrawal of my dual Swiss citizenship, which was conferred upon me by operation of Swiss law when I married my husband in 1978,” Bachmann said in a statement.
NATIONAL
April 24, 2012 | By Maeve Reston, Los Angeles Times
CHESTER TOWNSHIP, Pa. - Marco Rubio took the stage with Mitt Romney and delivered what the presidential candidate wanted - a jolt of energy aimed at an uninspired Republican base and a message of inclusion to Latino voters, who have drifted away from the party in droves. Monday's appearance by Rubio, a Florida senator and possible vice presidential pick who has become one of his party's most prominent Latino leaders, drew cheers and applause from the crowd. But it was also a reminder of competing imperatives facing Romney after a combative primary season in which he moved far to the right on illegal immigration, a key concern for many Latino voters.