Schumer's War on the Rich

While discussing Facebook's partial owner Eduardo Saverin's decision to renounce his U.S. citizenship, Senator Chuck Schumer (D-NY) recently said, "There should be no financial gain from renouncing your country." I think the three-term senator from New York said something we should all be able to agree on.  The U.S. tax code should be written to encourage producers like Saverin to keep their talents, ability, and money in this country. Instead, we have exactly the opposite.  The U.S. tax code is so oppressive that smart and successful people like Saverin are compelled to renounce citizenship in order to keep more of their own hard-earned wages. On May 17, Schumer held a press conference to publicly scold Saverin for his decision to turn in his passport.  That prompted Schumer to make Saverin the poster child of the evil rich class. I find it ironic that Schumer never once in the press conference looked inward at himself and the Congress for creating the very environment...(Read Full Post)