Reprinted from Forbes.com, May 17, 2012.
Eduardo Saverin, Mark Zuckerberg’s co-founder at Facebook, has sparked outrage by renouncing his U.S. citizenship as an apparent tax-avoidance strategy. Saverin, who lives in Singapore where there is no capital gains tax, stands to save about $67 million by giving up his U.S. citizenship. This is a Bright Shiny Object that has Washington in a frenzy.
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