If asked what’s more important – being rich or being an American – Conservatives choose being rich…even when they could be both. The right-wing is showering praise on Facebook co-founder Eduardo Saverin after he renounced his U.S. citizenship last week just to avoid paying capital gains taxes on the fortune he’ll make when Facebook goes public this week.
Despite capital gains taxes being at historically low levels, and despite Saverin having no intention of investing any of his enormous wealth in the nation that made his success possible – Forbes Magazine calls Saverin an “American Hero.” And columnist John Tammy suggests that Saverin’s decision will lead to other successful businessmen following suit, writing: “Assuming nosebleed rates of taxation were a driver of Saverin’s decision, politicians will hopefully see that, if too greedy about collecting the money of others, they’ll eventually collect nothing.” So it’s OK to be anti-American as long as you’re pro-business.
What the Right doesn’t understand is – many 1%ers in America have already seceded from the nation – even though they’re still technically U.S. citizens. Living in their own gated communities, attending their own private schools, flying in their own private jets, paying their own lower capital gains tax rate, and vacationing year-round in their own McMansions around the world – today’s Romney super-rich don’t have any idea what life is like for the typical working American. Like Saverin – they’ve already left the country.