Skip to comments.Wealthy Socialite/Top Democratic Donor Denise Rich Renounces Her U.S. citizenship
Posted on 07/09/2012 10:45:50 PM PDT by tcrlaf
-Songwriter also has Austrian citizenship through her late father
-Former husband Marc Rich fled the country when indicted on charges of tax evasion - but was pardoned by President Clinton in 2001
-House of Representatives committee later found Denise Rich had swayed the decision through donations to Clinton campaign
-Comes as the latest wealthy American to denounce citizenship
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, top Democratic donor and glamorous figure in 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, who was born in Worcester, Massachusetts, likely will save tens of millions of dollars or more in U.S. taxes over the long haul, tax lawyers say.
She also has Austrian citizenship through her deceased father, said Michael Heidt, a lawyer in Hollywood, Florida, who represented her in a recent lawsuit. She plans to live in London.
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.
(Excerpt) Read more at dailymail.co.uk ...
The Democrat-supporting Super-Rich are FLEEING the oppressive taxes of the U.S. (James Cameron did it, too) It seems they want to KEEP their own money, and don't want to give it to the Democrat Voters.
Hmmm... I wonder why I had to go the UK Daily Mail for this tidbit of news, instead of CBS/ABC/MSNBC/CNN/NBC/NPR/Pacifica/WashPost, or the NYTimes?
I can't IMAGINE why. Can you?
meanwhile the republicans rearrange the deck chairs
There are some interesting numbers below....at some point its gonna start looking like a bank run ...which is essentially what it is...
The Feds are desperately worried some of the 50% of the population they uses as cash cows to help them fund their delusions are catching on...and leaving....
Last year, almost 1,800 people followed Supermans lead, renouncing their U.S. citizenship or handing in their Green Cards. Thats a record number since the Internal Revenue Service began publishing a list of those who renounced in 1998. Its also almost eight times more than the number of citizens who renounced in 2008, and more than the total for 2007, 2008 and 2009 combined.
Even more alarming....in 1997 the list was ONLY 90 people renouncing...so that year, 2011, it was TWENTY times greater that in 1997...
I don’t get this. Aren’t UK taxes MUCH higher than U.S.? Especially at her level.
Hubby fled the country in 1983, after he was indicted in the United States on federal charges of tax evasion and illegally making oil deals with Iran during the Iran hostage crisis.
He was also directly involved in the BCCI scandal, laundering money for the Drug Cartels, and eventually costing the US taxpayers BILLIONS in bailouts.
Today he also holds Belgian, Israeli and Spanish passports.
She’s keeping her Austrian citizenship, apparently. Don’t know what kind of tax-exempt status she’ll have while living in London as an Austrian citizen.
I am old enough to remember the regimes of Prime Ministers Wilson and Heath.
Recall the Beatles’ song “Taxman”?
British entertainers and other wealthy were leaving the country in droves to avoid 90%+ tax rates.
Then came Mrs Thatcher.
But they did not have to renounce their citizenship. The USA is one of the few countries in the world that taxes you if you live and work outside the country.
What happens when they want to come back?....
I have a few ideas...
Rich Dems fleeing the country to protect their wealth....
Imagine the hypocrisy.
Where is she going? And right as the utopian hell she helped foist upon us is coming to fruition!
trying to get into the US and the never ending Big Brother gravy train. I don't see how they can keep the benefits up though if the job creators of this country start voting with their feet in massive numbers as I predict, starting with serious professions such as surgeons and nurses.
Good observation there, mo. They know this in their hearts, but what is even worse, they have COUNTER PLANS that would scare the piss out of any decent American. Wake up folks. It is going to turn into East Berlin!!! The US Congress is already enacting such legislation on Americans leaving the country out of fatigue of being tax beasts of burdens for the millions of societal, entitled parasite-voters of society the Dems have bred like rats.
Democrats love to show how compassionate and charitable they are with money extorted from others by the government.
Their own money? They keep it for themselves.
“Twenty times greater than in 1997”
And watch it jump by an even greater factor if 0bama slithers by to another win in November.
“I dont get this. Arent UK taxes MUCH higher than U.S.? Especially at her level.”
No, the UK is very popular with the super-rich because we let them keep most of their money:
Obama - The Great Outsourcer of American Wealth.
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