This is ridiculous.
Eduardo Saverin renounces his US citizenship because of high capital gains tax and Sens. Schumer and Casey come up with legislation that would stick it to him anyway.
The articles say the legislation probably won't get out of committees, but it's a little crazy that things like are thought up in our Congress.
The thinking behind this Ex-Patriot Act seems to be that America made you rich, now you owe your country. Why? Do hyper-successful/wealthy people owe anything to the government? Sure, one can extrapolate all sorts of things: public schools, police, roads, whatever, that may have formed a foundation for success. But what's the true value of all that? Why does a rich person owe more than a "normal" person?
Rather than government institutions being a catalyst for human success, I think that informal institutions like culture, morality, community and personal attributes are far more influential than anything the government would contribute. All that mixed with a little right-place-at-the-right-time.
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