Tuesday, May 22, 2012

Boehner Criticizes Renunciation of Citizenship

By Ryan Teague Beckwith May 20, 2012 – 10:17 a.m.
Bill Clark
Speaker John Boehner talks during a weekly press conference in March of 2012. To buy this photo, go to: http://roll.cl/cqrcpix
Speaker John Boehner said that renouncing your citizenship to avoid paying taxes is “outrageous.”
In an interview on ABC’s “This Week,” the Ohio Republican was asked about reports that Facebook co-founder Eduardo Saverin may have renounced his U.S. citizenship to avoid paying capital gains taxes when the company went public.
“There’s already a law in the books, George, but this is outrageous,” he said. “This is absolutely outrageous.”
Democratic Sens. Chuck Schumer (N.Y.) and Bob Casey (Penn.) have proposed legislation to shift the burden of proof, forcing millionaires renouncing their citizenship to prove they aren’t trying to avoid taxes.
Boehner said is “not sure” the bill is necessary.
Host George Stephanopolous asked if he would support the bill if it turns out that it is necessary.
“If it’s necessary … I would support it,” he said.

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