Will Howard renounce his citizenship?

Discussion in 'The Howard Stern Show' started by noname2, Jul 9, 2012.

  1. noname2

    noname2 Well-Known Member Banned User

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    Could save him some dough!

    Denise Rich, the wealthy socialite and former wife of pardoned billionaire trader Marc Rich, has given up her U.S. citizenship - and, with it, much of her U.S. tax bill. Rich, 68, a Grammy-nominated songwriter and glossy figure in Democratic and European royalty circles, renounced her American passport in November, according to her lawyer.
    Her maiden name, Denise Eisenberg, appeared in the Federal Register on April 30 in a quarterly list of Americans who renounced their U.S. citizenship and permanent residents who handed in their green cards.
    By dumping her U.S. passport, Rich likely will save tens of millions of dollars or more in U.S. taxes over the long haul, tax lawyers say.
    Rich, who wrote songs recorded by Aretha Franklin, Mary J. Blige and Jessica Simpson, is the latest bold-faced name to join a wave of wealthy people renouncing their American citizenship. Facebook co-founder Eduardo Saverin gave up his U.S. passport to become a citizen of Singapore, an offshore tax haven, before the company's initial public offering in May.
    Nearly 1,800 citizens and permanent residents, a record since data was first compiled in 1998, expatriated last year, according to government figures.
    Rich, who was born in Worcester, Massachusetts, has Austrian citizenship through her deceased father, said Michael Heidt, a lawyer in Hollywood, Florida, who represented her in a recent lawsuit.
     
  2. yippeekyaa

    yippeekyaa Moved forward. VIP

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    I have a high school classmate that gave up his citizenship due to tax reasons. His dad died and he inherited a multi-billion dollar company that was solely owned. Irs sent him a bill for over 600 million. He pulled some shenanigans and gave the IRS the finger on his way over to the Cayman's and he is still president and CEO of the company he inherited.
     
  3. gayandloud

    gayandloud New Member

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  4. Snotty

    Snotty My Snothand be strong!!! VIP Gold

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    Yes, We can!!!!!
     
  5. BethSucks

    BethSucks Well-Known Member Staff Member

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    Shocking
     
  6. BethsZygote

    BethsZygote In Utero VIP

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    Can he renounce citizenship without leaving the Hamptons?
     
  7. yippeekyaa

    yippeekyaa Moved forward. VIP

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    Yup.
     
  8. Uncle Larry

    Uncle Larry Well-Known Member VIP

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    I can't see it - Howard's fear of living abroad would trump his desire to save marbles. He may compromise after he retires and use a state with no income tax as his official residence.
     
  9. urbanshocker

    urbanshocker New Member

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    You mean like Ken Dart, heir to the Dart Cup fortune (look under your styrofoam coffee cup)? And then try to become a Foreign Ambassador TO THE USA, using Chimney Manor as the Consulate?

    Dart tried, but it didn't work--good thought though
     
  10. DogStar69

    DogStar69 Well-Known Member

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    Howard is too scared to even leave the US.

    I hope all those people who leave to not pay taxes have all their wealth taken from them in a coup.
     
  11. newcastlefan

    newcastlefan גֵּרְשֹׁם VIP

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    except if you read the article, you would have seen that she accepted Austrian citizenship and not Israeli. She could have declared herself an Israeli citizen but the taxes there are worse than here
     
  12. yippeekyaa

    yippeekyaa Moved forward. VIP

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    In the case of my high school classmate i mentioned earlier. The IRS claimed he owed them over 600 million in inheritance taxes simply from inheriting his fathers business. He didn't have that much cash and wasn't about to pay them. I honestly don't blame him for what he did. His dad could have done a better job of protecting him from this but didn't for some unknown reason. He wasn't about to sell off the business to pay them either.
     
  13. Goods

    Goods Well-Known Member

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    Anyone who renounces US citizenship should not be allowed to step foot in this country.
     
  14. shitcunt

    shitcunt Well-Known Member

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    It is really stupid to stay in the US if you are rich.
     
  15. DogStar69

    DogStar69 Well-Known Member

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    Exactly, make it hard for them to do this. If they knew they could never come back they would just pay the taxes. As it is now they can become a citizen of somewhere else and live here at least 6 months a year.
     
  16. gilaet

    gilaet Xanax Service Dog Staff Member

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    They should renounce their US currency on the way out.
     
  17. DogStar69

    DogStar69 Well-Known Member

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    If inheritance taxes are 50% he still would have had $600 million if he sold the business, assuming it was worth that much. He could have retired and lived a millionaire lifestyle. If he couldn't sell it for that much he should have filed a claim with the IRS as to the amount due. His father also fucked him because he didn't set up any way to lessen his inheritance taxes. He's greedy. It sucks to pay that much, but it is what it is, he should be happy to even have half his wealth, and he could invest half of it and still be fine if he loses it.

    He could buy a mansion overlooking the Hollywood hills or in Beverly Hills, a NYC condo in the Trump building and a penthouse on South Beach and still have $590 million.
     
    Last edited: Jul 9, 2012
  18. yippeekyaa

    yippeekyaa Moved forward. VIP

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    If only it was that simple. I'll stop trying to defend his situation to you. You just keep on living with your head in the sand.
     
  19. urbanshocker

    urbanshocker New Member

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    What about the Eduardo dude from Facebook? Never assume that what would be good enough for you would be good enough for someone else....
     
  20. TrotMeAround

    TrotMeAround Member

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    Howard loves money more then he loves America.