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May 17, 2012 - Phil Hodgen

More self-inflicted damage from the Senate

An email from John Strohmeyer this morning made me laugh:

Important part

At a news conference this morning, Sens. Schumer and Bob Casey, D-Pa., will unveil the “Ex-PATRIOT” – “Expatriation Prevention by Abolishing Tax-Related Incentives for Offshore Tenancy” – Act to respond directly to Saverin’s move, which they dub a “scheme” that would “help him duck up to $67 million in taxes.”

Full article

http://abcnews.go.com/blogs/politics/2012/05/senators-to-unveil-the-ex-patriot-act-to-respond-to-facebooks-saverins-tax-scheme/

Thoughts

  • – I’m surprised it took them this long to introduce this.
  • – Once we’ve managed to insulate ourselves from the rest of the world and its capital, THEN our economy will take off!
  • – Perhaps if our system wasn’t such a nightmare, people wouldn’t want to leave.

Yes, John. It is a full-blown Moronathon on Capitol Hill.  (PS:  Senator Schumer is also a “D”.  Not to say that the “R” people are sane.  Not at all.  I just need to point out that Sen. Schumer is a “D”.  Also from New York.  Wasn’t that the site of a world-famous stock market once upon a time?)

Senators

Expatriation