Eduardo Saverin's decision to renounce his US citizenship in order to avoid paying taxes hasn't gone down well in the tech world, and now it seems that even the feds are getting involved - with Speaker of the House, John Boehner, declaring Saverin's act as "absolutely outrageous".
Stating that it was "already against the law," Boehner referred to legislation passed back in the 90s by Senator Jack Reed of Rhode Island, whereby Americans who renounce their citizenship for tax avoidance purposes are excluded reentry into the US.
Whilst Saverin might think that by ditching his US status (get it?) he'll be better off in the long run by saving himself millions of dollars, he's actually done more harm than good - with his self-declared "public debate" causing Boehner and Democratic Sen. Chuck Schumer to side against him, whilst Saverin and Rush Limbaugh join forces to defend the controversial move.
"If it's a more favorable tax haven that you can find elsewhere and you go there, why is it automatically that you are unpatriotic?" said the radio host last Friday. "Why is it automatically that you are a coward, that you are not paying your fair share? It's this whole class envy thing rearing its head again."
Just last week, Schumer and Democractic Sen. Bob Casey introduced legislation that would enforce Saverin to be responsible for any future taxes as well as bar him from reentering the US.
Despite calling the legislation unnecessary, due to the existing law, Boehner would support it regardless.
"If it's necessary, I'd surely support it," explained Boehner.
Source: Huffington Post