When Wealthy Liberals Abandon America
Denise Rich, the wealthy socialite, former wife of pardoned billionaire trader Marc Rich and big buck contributor/fund-raiser for the Democrat party has given up her U.S. citizenship - and, with it, much of her U.S. tax bill. She's leaving her citizenship behind in order to escape taxes, hot on the heels of Eduardo Saverin, Facebook billionaire, doing the same thing.
Rich, 68, a Grammy-nominated songwriter and glossy figure in Democratic and 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 likely will save tens of millions of dollars or more in U.S. taxes over the long haul, tax lawyers say.
Her husband, the Belgian-born Mark Rich, who became a multimillionaire commodities trader in the 1960s, fled the United States in 1983 after he was indicted on charges of tax evasion related to his oil-trading business, as well as violating the US ban on trade with Iran. Bill Clinton ultimately pardoned Marc Rich in the last days of his presidency.
An interesting side note, the Deputy Attorney General at the time for Clinton, was one Eric Holder. It came up as an issue during the Holder confirmation hearings. Even the New York Times in 2008 questioned the merits of the pardon and Eric Holder's role in it.
Meanwhile president Obama continues to excoriate Mitt Romney for supposedly offshoring jobs while his party and his policies, are offshoring wealth, and wealthy citizens.
It amazes me that Democrats continue to get away with painting a picture that Republicans don't care about the middle class and Democrats are the protectors of the middle class. Clearly the Democrats have disdain for the middle class. They only care about protecting what they themselves have. They are the party of the wealthy, unscrupulous elite, and they have duped half the country into seeing things completely backwards.Read More on the Eric Holder Implication Here