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Wealthy Socialite/Top Democratic Donor Denise Rich Renounces Her U.S. citizenship
UK DAILY MAIL ^ | 9 July 2012 | Daily Mail.Reuters

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 ...


TOPICS: Business/Economy; Front Page News; News/Current Events; Politics/Elections
KEYWORDS: 2012; billclinton; citizenship; clinton; clintonlegacy; corruption; democrat; democratcorruption; democratparty; democrats; deniserich; dnccoverup; dncrico; fairshare; getthehellout; liberalfascism; liberalhypocrisy; liberals; marcrich; nodemocrats2012; obama; obamadonor; pardongate; progressives; rich; stealthewealth; taxcheatparty; taxes; taxesfortheenotme; taxevasion; taxtherich
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Attn Mods: Title shortened to fit.

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?

1 posted on 07/09/2012 10:45:56 PM PDT by tcrlaf
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To: tcrlaf
even the 'rats are abandoning ship

meanwhile the republicans rearrange the deck chairs

2 posted on 07/09/2012 10:49:32 PM PDT by KTM rider
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To: tcrlaf
Well, there goes another character witness for Eric Holder, LOL

(for those tuning in late, the pardon for Marc Rich by the outgoing Clinton criminal syndicate was arranged by Eric Holder (then deputy AG to Janet 'Shakes the Clown' Reno).

Holder: "effin ungrateful B*TCH!!!!!!!" lol
3 posted on 07/09/2012 11:01:55 PM PDT by mkjessup (Romney is to conservatism what Helen Thomas is to a high fashion model walkway.)
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To: tcrlaf
I don't get it even if she gets taxed more she is mega wealthy and would still live a fantastic life here. I think there is another reason for her giving up her citizenship. Maybe when your that rich you can live a charmed life anywhere (most places) and maybe she doesn't feel any loyalty to the US. I am not for taxing the wealthy more
but I just think her reason for leaving is different than just higher taxes.
4 posted on 07/09/2012 11:07:36 PM PDT by funfan
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To: tcrlaf
Funny thing is, the Daily Mail cited this Reuters story . . . but Reuters would probably not advertise the story as openly, preferring to bury it in their virtual "back pages".
5 posted on 07/09/2012 11:08:20 PM PDT by Olog-hai
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To: tcrlaf

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 Superman’s lead, renouncing their U.S. citizenship or handing in their Green Cards. That’s a record number since the Internal Revenue Service began publishing a list of those who renounced in 1998. It’s 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.”

http://www.reuters.com/article/2012/04/16/us-usa-citizen-renounce-idUSBRE83F0UF20120416

Even more alarming....in 1997 the list was ONLY 90 people renouncing...so that year, 2011, it was TWENTY times greater that in 1997...

http://www.gpo.gov/fdsys/pkg/FR-1997-01-30/html/97-2283.htm


6 posted on 07/09/2012 11:15:55 PM PDT by mo (If you understand, no explanation is needed. If you don't understand, no explanation is possible.)
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Comment #7 Removed by Moderator

To: Olog-hai

I don’t get this. Aren’t UK taxes MUCH higher than U.S.? Especially at her level.


8 posted on 07/09/2012 11:16:08 PM PDT by boop (I hate hippies and dopeheads. Just hate them. ...Ernest Borgnine)
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To: funfan

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.


9 posted on 07/09/2012 11:18:43 PM PDT by tcrlaf (Election 2012: THE RAPTURE OF THE DEMOCRATS)
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To: boop

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.


10 posted on 07/09/2012 11:24:22 PM PDT by Olog-hai
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To: boop

sadly, no.

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.


11 posted on 07/09/2012 11:29:23 PM PDT by llevrok (2012 : Elect Adults)
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To: tcrlaf

What happens when they want to come back?....

I have a few ideas...


12 posted on 07/09/2012 11:29:48 PM PDT by hosepipe (This propaganda has been edited to include some fully orbed hyperbole..)
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To: tcrlaf

Wellity wellity...

Rich Dems fleeing the country to protect their wealth....

Imagine the hypocrisy.


13 posted on 07/09/2012 11:31:32 PM PDT by mylife (The Roar Of The Masses Could Be Farts)
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To: KTM rider

Where is she going? And right as the utopian hell she helped foist upon us is coming to fruition!

C’mon back!


14 posted on 07/09/2012 11:51:05 PM PDT by Bshaw (A nefarious deceit is upon us all!)
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To: llevrok
It won't be Democrats only fleeing the US and its Tax Regime under Obama (or Romney if he does not aggressively reverse the engines full steam with a cooperative Conservative Congress) and it will not be just the super rich, but I predict the upper middle class to the so called upper class. That's when the German shepherd dogs, barbed wire, spotlights and armed guards get set up at 100 yard intervals on our Southern Flank, finally,ironically to keep Americans, i.e. tax donkeys, as in beast of burdens, with means from leaving, and of course the Socialist Border Guard Detachments will have orders to shoot on sight anyone fleeing, but welcoming with open arms anybody who appears to be poor, going the other direction INTO THE US (instant Entitled Democrat Voters for Life),

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.

15 posted on 07/10/2012 12:07:48 AM PDT by AmericanInTokyo (Boy are we ever screwed, either way it turns out. SCOTUS for example, is going 100% Lib.)
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To: mo
"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.."

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.

16 posted on 07/10/2012 12:11:29 AM PDT by AmericanInTokyo (Boy are we ever screwed, either way it turns out. SCOTUS for example, is going 100% Lib.)
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To: tcrlaf

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.


17 posted on 07/10/2012 12:27:04 AM PDT by Iron Munro (Ayn Rand: "In any compromise between food and poison, it is only death that can win")
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To: mo

“Twenty times greater than in 1997”

And watch it jump by an even greater factor if 0bama slithers by to another win in November.


18 posted on 07/10/2012 2:04:14 AM PDT by ScottinVA (Buying Drain-O requires photo I.D... yet voting doesn't???)
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To: boop

“I don’t get this. Aren’t 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:

http://www.guardian.co.uk/society/2012/feb/24/why-super-rich-love-uk


19 posted on 07/10/2012 2:30:12 AM PDT by Caulkhead
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To: tcrlaf

Obama - The Great Outsourcer of American Wealth.


20 posted on 07/10/2012 2:44:38 AM PDT by formerlyfree
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To: AmericanInTokyo
Seeing a photo like this makes me wonder what each of these freaks had in mind when it came to steering clear of the U.S. tax collectors ...


21 posted on 07/10/2012 3:06:57 AM PDT by Alberta's Child ("If you touch my junk, I'm gonna have you arrested.")
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To: Olog-hai

When Europe finally goes boom, she will be one of the first ones banging on the Embassy gates.


22 posted on 07/10/2012 3:56:23 AM PDT by mazda77 ("Defeating the Totalitarian Lie" By: Hilmar von Campe. Everybody should read it.)
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To: mazda77
"When Europe finally goes boom, she will be one of the first ones banging on the Embassy gates."

If you are in Europe and have the money, the passport to have is Swiss. Also, Michelle Bachmann has Swiss citizenship like her immediate family, but I have read she is trying to give it up.

23 posted on 07/10/2012 4:12:38 AM PDT by Truth29
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To: Caulkhead
From the article:

But it's different in the UK. Here, if you come from overseas, and can prove strong links with overseas, and can prove that you are going to return to overseas, and can therefore establish a "domicile" overseas that is different from your "residency" in the UK – well, in that case, you are treated entirely differently for tax purposes. You pay tax on your income in the UK, like the rest of us; and you can remit capital to the UK; but your overseas income, as long as you keep it overseas, is out of the reach of the Inland Revenue.

What this policy amounts to, in practice, is that the UK has a gigantic sign hanging over it saying, "Rich People! Come and Live Here! You Won't Have to Pay Any Tax!" It is an extraordinary policy for any developed nation, and not one that anyone else has been tempted to adopt. Other countries have low tax rates to attract businesses – in the EU, Ireland and the Netherlands stand out – but the only countries that have anything even vaguely resembling the British policy towards the super-rich are places that are openly accepted as tax havens, such as Monaco and Switzerland.

America's tax policy is despicable and consequential.

24 posted on 07/10/2012 4:14:34 AM PDT by 1010RD (First, Do No Harm)
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To: tcrlaf
Play another tune Willie?


25 posted on 07/10/2012 4:32:42 AM PDT by drpix
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To: tcrlaf

I’ll get back to you when I think of a reason.


26 posted on 07/10/2012 4:38:58 AM PDT by BilLies ((Ass.Press, ABCBSNBCNN NYTimes, WaPOSt , etc., hate your Traditional American guts!))
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To: funfan
"...maybe she doesn't feel any loyalty to the US."

That's the principal factor, of course. Next step involves physically removing oneself from the country. All, I suspect, is done out of fear. She and her ilk have been feeding the socialist/progressive beast for years. All in the vainglorious hope that the tiger would eat them last. She now knows her kind will be among the first dragged from their mansions and hung from the lamp posts by the howling mob. Time to cut and run.
27 posted on 07/10/2012 4:42:38 AM PDT by PowderMonkey (WILL WORK FOR AMMO)
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To: tcrlaf
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.

You can bet they'll still be hectoring us about how we need to share our wealth more, though.

28 posted on 07/10/2012 4:44:02 AM PDT by Paine in the Neck (Socialism consumes everything)
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To: mkjessup
Marc Rich was also the brains behind the Oil for Food program which in reality was a way to manipulate the world price of oil.

Shortly after V Fosters death they learned VF had been making trips to Switzerland to meet with MR.

The scandal with Hazel O’Leary where no one, even congress, could find out where she was going or what she was doing was because of the WALL Jamie Gorilick erected.

O’Leary was meeting with Marc Rich (friend of mine knows MR, he got it straight from MR mouth that he was meeting with O’Leary) and they didn't want anyone to find out the way they found out about VF meeting with MR.

Marc Rich met with O’Leary in a town right on the Austria border with Hungary.

Had it not been for the Gorilick Wall that info would have been passed on by Interpol.

29 posted on 07/10/2012 5:10:26 AM PDT by IMR 4350
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To: tcrlaf

Marc Rich’s pardon was arranged by Eric Holder - http://www.nationalreview.com/articles/226728/unpardonable-holders-marc-rich-shuffle/andrew-c-mccarthy


30 posted on 07/10/2012 5:55:53 AM PDT by RightGeek (FUBO and the donkey you rode in on)
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To: funfan

Whether you have one million or two hundred million, you can find a way to overextend yourself. Whatever she saves, it’s for sure her advisors told her she absolutely can’t afford to give it up to Uncle Sam.

This woman could well be a “multimillionaire” yet on the verge of defaulting on her obligations.

In fact, there really is no other plausible explanation.


31 posted on 07/10/2012 6:01:52 AM PDT by Lady Lucky (If you believe what you're saying, quit making taxable income.)
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To: tcrlaf

32 posted on 07/10/2012 6:35:48 AM PDT by SeekAndFind (bOTRT)
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To: tcrlaf
I'd forgotten how ugly Jackson had made himself.
33 posted on 07/10/2012 7:35:31 AM PDT by pabianice
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To: tcrlaf

Having craped all over the bed, the libs now want out leaving us to clean up the mess (as usual). :(


34 posted on 07/10/2012 7:56:41 AM PDT by Tzimisce (THIS SUCKS)
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To: Tzimisce

This is known as “being hoisted on one’s own petard.”


35 posted on 07/10/2012 7:59:31 AM PDT by dfwgator (FUJR (not you, Jim))
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To: Lady Lucky

I’d bet the “near-award-winning” Denise Rich is just plain greedy, like most upper class liberals. For them, money and or power really IS everything.


36 posted on 07/10/2012 8:07:54 AM PDT by subterfuge (BUILD MORE NUCLEAR POWER PLANTS NOW!!!)
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To: tcrlaf

Socialists are all for sharing OTHER people’s wealth.


37 posted on 07/10/2012 8:10:36 AM PDT by PapaBear3625 (If I can't be persuasive, I at least hope to be fun.)
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To: KTM rider

I don’t know about other republicans but I am trying to build a life-raft for me and the people of my State of Texas.

The democrats that can seem to be fleeing the monster they have created, as that monster increasingly seeks to consume them as well.


38 posted on 07/10/2012 8:41:33 AM PDT by Monorprise
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To: drpix

Look at the glare from Hillary as she looks at two BIG reasons to hate Denise.


39 posted on 07/10/2012 9:06:25 AM PDT by massgopguy (I owe everything to George Bailey)
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To: tcrlaf

Now if we could just rid this country of the “Kardashian” “Clan” we would be MUCH better off!


40 posted on 07/10/2012 9:41:52 AM PDT by US Navy Vet (Go Packers! Go Rockies! Go Boston Bruins! See, I'm "Diverse"!)
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To: US Navy Vet

From what I’ve seen, the Kardashians are hard core capitalists. Living off the weak and stupid in society, but AFAIK Baraq hasn’t issued any laws forcing anybody to pay attention to them.


41 posted on 07/10/2012 9:46:27 AM PDT by nascarnation
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To: tcrlaf

I’m sure this won’t stop her from voting several times next election.


42 posted on 07/10/2012 10:03:06 AM PDT by arrogantsob (Obama must Go.)
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To: Truth29

“Michelle Bachmann has Swiss citizenship like her immediate family, but I have read she is trying to give it up.”

I don’t see why she should. It was a birthright and not something she sought out so she’s done nothing wrong except in the eyes of the Democrats whose eyes I’d like to collectively gouge out with a fork.


43 posted on 07/10/2012 12:21:27 PM PDT by MeganC (If you are hell-bent on delaying maturity you will likely succeed.)
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To: Olog-hai
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.

There are countries and territories around the world that have very low tax rates and I think some have no taxes.I guess they allow certain people,perhaps just the rich,to settle.The thing with renouncing US citizenship is that the US is the only civilized nation on earth that taxes its citizens on *worldwide* income regardless of where they might be living.Most countries don't do that.So as an Austrian she can probably live in one of these places and pay little or nothing in taxes to Austria *or* the country in which she settled.

44 posted on 07/10/2012 12:42:47 PM PDT by Gay State Conservative (Jimmy Carter Is No Longer The Worst President Of My Lifetime)
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To: MeganC
"I don’t see why she should. It was a birthright and not something she sought out so she’s done nothing wrong except in the eyes of the Democrats whose eyes I’d like to collectively gouge out with a fork."

I agree with you. I wish she hadn't gotten intimidated by the political criticism.

45 posted on 07/10/2012 12:54:05 PM PDT by Truth29
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To: boop

http://www.telegraph.co.uk/finance/budget/5219642/Sir-Michael-Caine-warns-further-tax-rises-will-force-him-to-move-abroad.html


46 posted on 07/10/2012 3:44:49 PM PDT by pogo101
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To: AmericanInTokyo
these rich rats KNOW that if bamey maintains his regime....which is what he will do if people don't get their asses in gear.....that he will make leaving the country with ANY assets impossible or finacially devastating....

the middle class won't have any options except to just leave everything behind....

don't forget that certain rats have already brooched the subject of raiding retirement accounts aka Ira's and 401's....

but, there are still people who deny this...

47 posted on 07/10/2012 5:59:43 PM PDT by cherry (Catholics for Romney)
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To: tcrlaf
Goodbye and Good Luck ... Mark Steyn
48 posted on 07/11/2012 6:17:43 AM PDT by Rummyfan (Iraq: it's not about Iraq anymore, it's about the USA!)
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To: Alberta's Child

Was that at Madame Tussade’s for the unveiling of the wax piece on Michael Jackson??


49 posted on 07/11/2012 9:28:25 PM PDT by AmericanInTokyo (Boy are we ever screwed, either way it turns out. SCOTUS for example, is going 100% Lib.)
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To: cherry

You indeed read the tea leaves very well, fellow Freeper. It takes insight to see these things coming, as often the signposts are subtle, very subtle indeed, and nobody broadcasts in a loud voice what they are doing—while they are doing it. (Quietly and slowly shifting assets out of the country, storing with relatives or in banks that cannot be touched by ReichsIRS, etc. etc.)


50 posted on 07/11/2012 9:34:18 PM PDT by AmericanInTokyo (Boy are we ever screwed, either way it turns out. SCOTUS for example, is going 100% Lib.)
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