Lessons from Facebook's success: hat's off to the kid, Mark Zuckerberg; shame on his partner and Chuck Schumer.

Mark Zuckerberg, self made billionaire
laying his foundations for wealth in a
pre-Obama, pro-capitalist world. 

Update:  as it turns out,  Eduardo Saverin renounced citizenship in the US more than a year ago,  not yesterday, as the media seems to imply.  Also,  he spoke out, this morning, saying that he would pay taxes due.  Could it be that ABC in concert with the blowhard,  Chuck Schumer,  do not know the facts of this situation?  

In a real-time ABC report,  we have this:

Sen. Chuck Schumer, D-N.Y., has a status update for Facebook co-founder Eduardo Saverin: Stop attempting to dodge your taxes by renouncing your U.S. citizenship or never come to back to the U.S. again.

In September 2011, Saverin relinquished his U.S. citizenship before the company announced its planned initial public offering of stock, which will debut this week. The move was likely a financial one, as he owns an estimated 4 percent of Facebook and stands to make $4 billion when the company goes public. Saverin would reap the benefit of tax savings by becoming a permanent resident of Singapore, which levies no capital gains taxes. . . .

I am tempted to agree. My only hesitation has to do with the fact that all of Facebook's anticipated gains ($3 to $4 billion dollars) is on "paper" yet, the tax burden,  is real time.  In other words,  the co-founder, Saverin, a native born Brazilian,   has gained billions in personal wealth as an U.S. citizen,  all of it on paper,  and has to pay taxes on that wealth apparently before "liquidity" sets in.

I understand his problem,  but to reject his U.S. citizenship ??  Well, there has to be another way.  Perhaps, the most difficult pill to swallow, in all this,  is the fact that Saverin is being singled out by one of the most morally/politically compromised,  self pronounced anti-capitalist  congressman of our time,  Chuck Schumer. But, more on Schumer, later.  Just know that the anti-capitalist Schumer will attempt to use Saverin's escape to another country,  to punish the function of freedom in the name of social justice.

Hats off to Eduardo Saverin's righteous twin, the "other founder" of Facebook,  Mark Zuckerberg.  Mark is born (1986) and raised a typical American.  He proudly remains an American and Facebook stands as a testament to all wannabe millionaires.  Understand that of all the millionaires in this country, all 8.2 million of them,   a full 80% of them are self-made. That "self made" part?  Well, it added 200,000 millionaires to the roles in 2011,  alone.  For the most part,  they did not inherit their wealth but earned it,  using the opportunities for "upward mobility" that is only found in a pre-Obama United States of America.

Keep that in mind, come November 6, 2012.