senatorsschuck schhmer and bob casey came up with legislation to force saverin to pay taxes on facebookrofitt. it would require wealthy americans renouncing us citizenship to still pay a 30% capital gains the rate for a us citizen. if phey don't ppy that, and back income taxes, they'd beebarrrd from u.s. in a carefully wordeddstatement, saverin responded that he ill pay hundreds of millions of dollars in taxes tt the united staaes government. iihave paii and will continue to pay any taaes due on everything i earned while a u.s..ciiizen note: he says nothing about paying taxes on facebook profits he'd make now that hees no longer a us cittzen. saverin innists he only expatriated because he wants to live in ingapore schumer says if you think that's true, he has a briige you could buy. anyone who believes mr saverin didnt do this aa least in good part for tax purposes ii quite gullible.a footnote - schummr posted a link to his new legislation...where else? oo his facebook pagethe legislation does allow the i-r- s to exempt ameeicans whh renounce citizennhip for clearly legitimmte reasons.

and democratic senators chuck schumer and bob casey say it was to dodge taxes on a windfall.saverin hasafe, eeucated him, and helped him become a billionaire. responding in a statement thursday, saverin said --my decision to expatriate was based solely on my interest in siigapore, where i have been ssnce 2009. i am obligated to and will pay hunnrees of millions of dollars inntaxes to the united states government. i have paid and will continue to pay any taxes while a u.s. citizen.while - facebook wws the headline, schumer and casey also introduced legislation they call the ex-patrrot act,,that would force anyone who reeounccs u-s citizenship for tax purposes - to pay a 30 percenn tax on future u-s investments -- and bar them they don't pay.in washiigton, 3 3 3 dr martinnluthee king?al jolson?adolph hitler?who--ever this kid tried imitating... baccfired... at school... thats next she's known as the girr hat took down the governnr. why eliot spitzer's foomer call girl is trading that title for businesswoman. 3 ashhey dupre.../ has... opened...// shop.../ ashhey... - dupree...// áánameáá..

say he is a tax dodger who lives in singapore and the democratic senators schumer of new york and bob casey of person say this could save him $67 million in u.s. taxes. the amount is obviously in dispute. the facebook co-founder told "new york times" newspaper that he had no intention of dodging uncle sam adding and i quote, "i was born in brazil, i was an american citizen for 10 years, i thought of myself as a global citizen." senator schumer says, he doesn't buy that. >> he wants to de-friend the united states of america just to avoid paying taxes. we are not going to let him get away with it. the senators want to ban entrepreneurs like the facebook co-founder from getting back into the united states if they tried doing the country if the tax breaks and lawmakers are proposing a new bill to make it happen. 9 chief fox correspondent jonathan hunt is in the studio on the lead story, so, what would this bill go, exactly? >>jonathan: it is called the, patriot act. what were you saying? this is hardly exciting after that drama. but it is calmed the ex-patriot act and under the rules if the i.r

>>jonathan: senator bob casey with senator schumer put it more succinctly saying he is "spitting in the eye of every american." >>shepard: how often does this happen? >>jonathan: what the government figures so far this year, some 460 people have renounced their u.s. citizen 147 compared two telephone -- 2012 20121,400, and the most, the lowest recent figure, was in 2008, 226. but, what the figures do not show us, is the justification in each case for that person renouncing their citizenship. so the bottom line we cannot put a figure on how many do it as a tax dodge but it must be a hyper sent of the figures. >>shepard: and now to arthur aidala and randy zelin and with the public relations consultsant, frazier is the all their of rethinking reputation how p.r. trunks marketing and advertising, what a p.r. mess they have here, fraser. >> so transparent and he went on the offensive yesterday being interviewed by "new york times" and he said, i'm a citizen of the world, of the globe. we are stupid but not that stupid. the point is, tomorrow, his capital gains would be in excess of $3 billio

then you look at a state like pennsylvania where you have a democrat in bob casey who has a different view than the president on this subject, and there maybe you have to have -- if you're bob casey -- maybe you have to put a little more distance between yourself and the president and that, in turn, highlights an unpopular stance for the president in that state. so whenever you have democrats that either have to embrace an unpopular stance of yours or distance themselves from it, that's not what you want to see. megyn: but we are being told more and more these days that this is becoming a rights -- an issue of, you know, possible bigotry, that the gay rights lobby is trying to paint those who are opposed to marriage equality as bigots. and so, and with the president saying what he said to robin roberts, you know, the pressure's been increased on people, so goes, you know, the notion. so these democratic senators don't seem to be buying that, chris. does it undercut that argument? >> well, look, the president here is trying to make a kind of a theological argument in a hope that he can

pennsylvania senator bob casey.our time this morning. >>> keeping an eye on the nasdaq after facebook launched there this morning, roughly about 20 minutes ago. you can see that it's up by five points right now, trading at over $40. it entered the marketplace at $38. >>> the other big story we're keeping an eye on this hour, developing news out of north carolina, the corruption trial of former presidential candidate john edwards. right now jury deliberations are under way. jurors are weighing nearly four weeks of testimony and the evidence to decide if edwards knowingly violated campaign finance laws by using more than $900,000 from wealthy donors to hide his pregnant mistress during his run for the white house in 2008. if convicted on all six counts, edwards faces a maximum sentence of 30 years in prison. nbc legal analyst joins me now from outside the courtroom. hampton, as we talk about the lawyers here for john edwards, they say his client's campaign was never required by the ftc to report the payments as that o

yesterday, chuck schumer and bob casey introduced a measure that would address him, mr. savin, and people like him. here's a story about it in this morning's "wall street journal." and it says, the facebook co-founder of thursday denied allegations by two senate democrats that he gave up his american citizenship to avoid taxes saying his decision to live in singapore was purely personal and he will owe the u.s. hundreds of millions of dollars in taxes despite the move. and the -- capitol hill yesterday, mr. schumer told reporters that mr. salve rinn had turned his back on the country and kept him safe, educated him, and helped him become a billionaire. through a spokesperson, he reiterated his decision wasn't about taxes. he said i will continue to invest in u.s. businesses and start-ups and believe and hope those investments will create many new jobs in the u.s. and globally. he's already subject to an exit tax that requires certain expatriates who give up their citizenship to pay tax on the unrealized gains on as sets exceeding $600,000. that's 15% of the fair market v

bob casey, the co-sponsor of this bill with chuck schumer put it great >> he'swe've got troops overseasry day. mr. savren spits in their eye. he spits in the eye of the american people when he does this. >> that's exactly what he is doing. so i just, you know, i agree with jeff macke. why haven't we done anything about those wall street executives who almost destroyed our economy in 2008? why aren't they in jail? what happened to john corzine? why hasn't he been on the stand? what about jameie dimon blowing $2,000,000,000 last week? there are things we ought to focus on. but the schumer legislation is great. go after these tax cheats like edwardo savren. i would go further, drag his ass back here and make him pay his taxes. he earned it here. what the hell. >> this is bill press show. ♪ lieutenant governor of california, and former mayor of san francisco is coming to current tv. >>every night on cable news networks everyone's focusing on what's wrong. i want this show to move past that. i love creative people, and with all the vexing problems we have we need creative thinking. >>(narrat

web team wrote an interesting article about a proposal by senators charles schumer and bob casey to tax americans who renounce their citizenship that's right they want to make you pay for not wanting to be an american any longer that's an all they're suggesting the deal also wants to ban these people from ever setting foot on american soil again it's being dubbed the x. patriot act and it could have huge consequences on all americans so check out the in-depth article on r.t. dot com slash usa and that's going to wrap it up for tonight i'll see you back here tomorrow and what drives the world the fear mongering used by politicians who makes decisions to break through it's already been made who can you trust no one who is you in view with the global machinery see where are we heading state controlled capitalism is called session.

the statements today from senator charles schumer of new york who is joined by senator bob casey of pennsylvania. their so-called expatriate act would subject high earning ex-americans to a steep capital gains tax. >> mr. savarin says he's a global citizen, but just so happens the country where he's chosen to reside singapore has no capital gains tax. this tax avoidance scheme is outrageous. he has turned his back on the country that welcomed him and kept him safe, educated him, and helped him become a billionaire. this is a great american success story gone horribly wrong. eduardo wants to defriend the united states of america just to avoid paying taxes, and we aren't going to let him get away with it. we are here today to announce the ex-patriot act which will stop savarin's scheme from succeeding. first, our proposal would sigh that if an american who has either $2 million in net worth or an average income tax liability of at least $148,000 over the last five years and then seeks to renounce his or her citizenship, they will be presumed to have renounced their citizenship for tax avoidance pu

so that he wouldn't have to pay taxes on his facebook earnings just as we two senators senators bob casey and chuck schumer they proposed. putting up a tax for people who do this for people who leave the country a thirty percent tax penalty on those who leave to avoid paying their taxes what is the what's going to go on with this well i hope nothing because this is absurd denouncing your citizenship saying it you do pay taxes if you're very wealthy there is an exit tax you pay taxes on everything you've earned and all of your wealth before you're able to sever ties so someone like jim rogers who's been outspoken in the wake of this new saying hey everyone's getting this wrong you know not to make a judgment on renouncing u.s. citizenship but in his view but you do pay a lot of taxes and you do have to settle up all your accounts before you were announced citizenship not to mention this facebook guy aside this is a trend christine we saw a record number of americans that live abroad renouncing their u.s. citizenship eight thousand five hundred in last year which was a record since they sta

. >> greg, you said another was chuck schumer and another senator and that would be bob casey. >> just a barrel of laughs. >> yes. dana, you said the worst part was the way schumer wrote the line. i don't think that's fair. i think who wrote the speech is ashamed. his social network is about to get -- shut up. that's horrible. >> don't you think former senator fred thompson could have read the hell out of that line? >> i think anyone could have read that better, but it is still god awful. >> and you are going to write a line like that for your boss you should practice it before hand. >> it was the mario vitale of speeches. can i ask you a question about this? >> sure. >> the dude, the facebook guy. he is getting out of paying 60 some odd million dollars. that's not the percentage. that was not a tax rate. it was a difference in taxation. he wasn't trying to escape a 10% tax rate. do you follow me? >> no. >> he was standing to make $3 billion and he was trying to get a you way from paying $70,000 which seems like not a lot. >> not $70,000. >> 70 million. >> it does president seem like a

chuck schumer and bob casey are introducing the ex-patriot act.t's designed to tax ex- patriots even after they leave the u.s. >> this is an insult to the american people and when you have someone like mr. severin who benefited this from our education system and from all of the liberties and freedoms we enjoy and to end that and take the wealth and try to avoid taxes in this marijuana, i think, that cries out for basic justice. >> the senators called the tactic a scheme because he now resides in singapore, a country that has no capital gains tax. >>> in just hours, you will be able to own a piece of facebook. the social networking site filed a final price for the initial public offering about an hour ago. the share will cost you $38 valuing the company at $104 billion. the i.p.o. is expected to raise $18.4 billion making it the 70 largest initial public offering of all time behind visa's offering in 2008. >>> the trading losses suffered by j.p. morgan chase are getting larger and that is according to the times. that surged to about $3 billion when

. >> not so fast says chuck schumer of new york and bob casey of pennsylvania. they introduced legislation that would penalize folks like mr. saverin to forbid them from ever come back to this country again. if they think they did it for this reason, that person would be subject to 30% capital gains tax on future gain in the united states no matter where they live. >> saverin has turned his back on the country that welcomed him and kept him safe, educated him and helped him become a billionaire. this is a great american success story gone horribly wrong. >>> in other financial news, senator bernie sanders, once the head of the jpmorgan chase jamie dimon to step down. he says the $2 billion trading loss highlights the need to make changes and working on legislation to end conflicts of interest. tonight in our survey, i asked are republicans getting disappoint by bringing up reverend jeremiah wright. 88% of you said yes and 12% said no. >>> coming up, scott walker compares himself to a legend on the gridiron. cut me some slack, will you, dude? we're coming right b

i imagine governor rendell, you remember when bob casey was removed from the dnc schedule for being pro life, this has got to stop. it's an ugly side of politics and i think what you're witnessing on the right is really some of the worst of it. >> i don't know you can call this bullying from the edges, this is people standing up for someone on what they see as a civil rights issue. and the -- >> from the edges -- >> is what i'm saying. you're allowed to not support gay rights. you are allowed to. that's not the ugly part. the ugly part is using that to attack someone who is a perfectly good foreign policy adviser and has nothing to do with this issue for personal gain, advance a cause. i think that's bullying from the edges. >> i don't know if this is from the edges. this is a very conservative republican party. you go out to these events dyed in the wool hard core conservatives. i think his decision to stand behind grenell would have hurt him with conservatives and nearly 30 states have -- >> a friend of mine said this is not representative. i think a lot of conservatives are okay with

democratic senators charles schumer of new york and bob casey of pennsylvania are going after one of the founders of facebook because they say he has given up his citizenship to avoid paying taxes. eduardo savarin is now a citizen of singapore and he says he will still pay hundreds of millions of dollars in taxes and the senators want to reimpose taxes on him and others along with barring their re-entry to the u.s. consensus may be hard to find in the u.s. senate. but today, the democratic majority leader tried to get a bipartisan agreement on new penalties against iran for its nuclear program. chief congressional correspondent mike emanuel tells us how that went. >> there's bipartisan support for tightening sanctions on the iranian regime although senate republicans asked for more time before voting. >> there's no reason in the world why we can't resolve whatever minor differences we have. and move forward. we certainly don't want to take a step backward. >> republican concerns seemed to agitate the majority leader harry reid. >> and i'm really upset about this. i feel like i've bee

. >>> senate democrats bob casey and chuck schumer want facebook co-founder eduardo saverin to pay for by punishing him for moving to singapore and renouncing his american citizenship. tell me about this eamon. >> his proposal would impose an after-the-fact capital gains tax on 30% for rich folks who renounce their u.s. citizenship and move overseas. he would work in provisions that would make it more difficult for them to return to the united states, even in terms of getting a visa to come back into the country. as for eduardo saverin, his stake in facebook could be worth billions and his move tosong a pore to save his tens of millions in taxes. he said my decision to expatriot was based solely on my interest in working and living in sending a pore where i have been since 2009. i am obligated to and will pay hundreds of millions in taxes to the united states government. so, larry, the question here with the schumer proposal is it all comes down to the intent of the wealthy person. the irs would have to make a determination of whether that person expatrioted in order to mack tax saving

and we'll hear from senator bob casey, no more skipping out on your citizenship to avoid paying taxesve you seen the driving racoon, the turk jerky, and the racoon is eating turkey jerky. >> and driving a boat. bass pro shop has it all, including the driving raccoon and a kayak race, that clayton and i will participate in. >> clayton: the rules have changed. >> dave: that's good. i feel the competitive after yesterday's tough mudder and having a hard time motivating. >> clayton: you're the most competitive human being i've met. you'll come back. >> alisyn: and have you been training? >> oh, sure. >> alisyn: good. >> clayton: doesn't i look like i've been training kayak racing. >> alisyn: if i had lost the past five consecutive years you might change something this year? i don't know. >> clayton: this will make it five to be fair. i have new shoes i'm going to wear. >> alisyn: let's talk about what happened at the g8 summit. because the top countries and economies in the world got together and there in stark relief were the two different styles, right there on the national stage. in te

senators chuck schumer and bob casey sponsoring legislation that would prevent him from ever coming backountry. in a statement to cnn, he said it is not based on the facts and he will pay hundreds of millions in taxes to the u.s. government as a result of the ipo. >>> the senate banking committee will invite jamie dimon to testify about why his company lost $34 billion and counting. i'm hearing it could be $4 billion and higher, on a series of complex trades. senator tim johnson says he wants to hear from wall street regulators first and then he's going to ask mr. dimon to appear. according to a spokesperson from jpmorgan, if or when jamie dimon is invited, he will appear before the committee. saying, as always, we will continue to be open and transparent with our regulators and congress. >>> well, mary kennedy, the estranged wife of robert kennedy jr. died after hanging herself. this is according to a medical examiner's report released today. her body was found yesterday in an outhouse -- out building on the family's property outside new york city in a town called bedford. mary married

now senators charles schumer of new york, bob casey of pennsylvania have introduced legislation barringrenouncing their citizenship for tax avoidance reasons from reentering our country, and they would tax their future investments at a 38% rate. >> joining us is a man who recently interviewed mr. saverin for "the new york times," quinton hard different. he joins us now. quinton, he says he didn't do it to avoid taxes. what was your take on that? >> i think first we ought to spend a minute in the weeds. but they're really, really nice weeds, susan. the guy did pay taxes. in 2006, we passed a law country called an exit tax where if you're going to renounce your citizenship, they lock at all your assets, and you pay a fee on that. his capital gains were there. in those days facebook was valued at about $50 billion. whatever he's got, it was valued at half that. he paid a capital gains or borrowed to pick capital gains on that. what we're talking about here really is he's not going to pay this week. >> right. >> and the gap between that. you said 67, i'd be surprised if it wasn't somewhere

wagner" referring to the fact that rick santorum was punished in his bid, his challenge against bob caseyhat's right. >> because he was getting benefits from pennsylvania but schooling his kids in virginia. >> that's right. it's a very similar situation. it's sort of you have this sense of sort of becoming part of the establishment, not really giving back, not being in touch with the state. and again, i think that dick lugar actually probably could have held his seat had he tried harder. we'll obviously never know and we will never know how much of this is the tea party versus specific factors to his own race. but there is a sense this possibly didn't have to go this way, but he doesn't feel that way and he made that clear. >> it was a really passionate statement. >> yes, very. >> maggie haberman, thanks. >> thank you. >>> up next, the real story. what happened on that day in dallas with lbj biographer robert caro. wake up! that's good morning, veggie style. hmmm. for half the calories plus veggie nutrition. could've had a v8. hi, i just switched jobs, and i want to roll over my old 401(k

. >> it was an issue when rick santorum ran for re-election against bob casey. it was a big issue there because rick didn't live -- he rented a house, and yet he got money for his kids to go to a charter school from the pennsylvania school district. >> right. >> so that was a big issue. people take that seriously. >> big problem. >> i think it's more, joe, symptom attic of what's going on. there's two things that happened last night that are bad. one, we lost dick lugar. one of the guys that could put simpson boles together after the election. and two, it will have a chilling effect on anybody out there that tends to be a moderate republican. >> before we go to news, i hear that we have a guest on the news maker line. >> exactly. >> "the morning news" news maker line. harold ford, lead story in "the new york times" today, boy, the cia. a lot of times when they do great things, you don't hear about it. but the cia, man, they infiltrated al qaeda. the highest reaches of al qaeda. and scored a huge victory over al qaeda in yemen. >> no. it speaks to -- i mean, the

martha: the "wall street journal" in an editorial calls democratic senators chuck schumer and bob casey a pair of envy specialists and says a punitive exit tax on the facebook ex-pat is not worthy of america. this man-made a ton of money on a company started in the united states and he should be free to do it. >> reporter: how would you know how someone has decided to renounce citizenship. martha: it's a fascinating story and we'll watch it coming up in two hours. thank you, sir. bill: hard to find a lot of companies that reach 900 million people around the world. mitt romney defending this business record. his most public move to date hitting back at an obama campaign ad attacking his time at bain capital. romney calls it among other things off target. >> our approach was to always try to make it enterprise more successful. the purpose of the president's ads are to suggest that i'm not a good person or not a good guy. and i think the american people will know better than that if they don't already. this should be a campaign about the future and who can get america on track again to cre

chuck schumer and bob casey came up with legislation to force saverin to pay tax on facebook profits.for a u.s. citizen. if they don't pay that they'd be barred from the u.s. in a carefully worded statement, saverin responded that he would pay hundreds of millions in taxes to the united states government. i have paid and will continue to pay any taxes due on anything i earned while a u.s. citizen. note nothing on paying taxes on facebook profits now that he's no longer a u.s. citizen. he expate rated because he wants to live in singapore. >> anyone who believes mr. saf rib did not do this at least in good part for tax purposes is quite gullible. >> a footnote, shierm posted a link to his new legislation, where else? on his facebook page. >> reporter: the new legislation does announce -- one example is the israeli ambassador to the u.s. michael or rin. he was an american citizen, but he had to renounce his citizenship. same with queen rania and when she became queen of jordan. there are examples of people renouncing citizenship for other than tax reasons. thank you very much for that r

. >> democratic senator bob casey of pennsylvania is one of two senators who introduced the ex-patriot act. senator, good morning. >> good morning. >> i know we're talking a lot about eduardo saverin in particular but if there was one catalyst for you all to draft this legislation, this ex-patriot act, what was it? >> well, certainly, this is the most egregious example that we know of, but there are more than 1,700 other people who have done the same thing, and the basic thrust of this legislation says that if you expatriate yourself, in other words leave the country, renounce your citizenship, the legislation would provide a 30% tax on the gains that would you get, any kind of future investment gains if, and this is the key thing, if the irs were to determine that the reason you left was for a substantial tax purpose. if they make that finding, and it has to be an objective finding, then the tax would apply. >> you can never return to u.s. soil, that's the other part of the end of that legislation. but so what i'm hearing is really it was saverin's story that caused you to draft the l

crowley, radio talk show host, fox news contributor and donna genteel is former advisor to senator bob casey and former staffer for governor ed rendell. welcome, ladies. monica, i will start with you. the president is being being criticized for leading from behind. now he is aggressive. why criticize him for that? >> unusual for sitting president to strike out at opponent this early in the race because he is sitting president and should be governing and instead of campaign. the truth he has been campaigning for about a year, doing record breaking numbers of fund-raisers. so this is not unusual for him. jenna: donna, what do you think about that? is president at risk not seeming presidential by doing this? >> no. i don't think he seems at risk at all. i mean the president has a record to defend and he has an agenda to pursue. the challenge for every president in an election cycle is to both campaign on the things that they believe in and the things that they hope to do for the future of america. so the president, this is, this is what the president should do. he is engaging this debate. it is

guest: i think it person to watch is bob casey, the senior democratic senator from pennsylvania. he is up for reelection, but he is not run as strong, and he has some speed to step ahead, because it is where a lot of hydraulic fracturing it is helping. casey said he plans to introduce legislation that would create state-based programs for natural gas vehicles. why it is a good and potentially game changing id -- idea is because there is a backlash about doing this federal budget federally, because they could turn to the next big energy subsidy, and it makes them hypocritical. republicans are somewhat split, and the federalist approach to let states create these cars could be a winner. host: has he taken heat politically because of the controversy- fracking has caused in part of his state? guest: he has walked that line effectively. he has not come out and say that hydraulic fracturing is great. it is creating a lot of jobs. host: elana schor is a reporter with "environment and energy daily," and focuses on policies in energy and press the gas. in her past, she reported on congres

last year i introduced the preserving access to lifesaving medications act with senator bob casey.we also had the support of senator collins and others. this was a bipartisan bill that would require drug manufacturers to provide early notification to the f.d.a. whenever there is a factor that may lead to a shortage. we also had support from you, mr. president, as well as from senator blumenthal of connecticut and many other people from across the senate. this bill will help the f.d.a. take the lead in working with pharmacy groups, drug manufacturers, and health care providers to better prepare for impending shortages, more effectively manage shortages when they occur, and minimize their impact on patient care. and that is why i'm pleased that the early notification provision from my bill is included in the food and drug administration safety and innovation act, the one that senator coats and i were just discussing, and that we are debating today. i want to thank senator harkin and senator enzi for their leadership on the "help" committee in bringing this legislation forward and inc

we were once invited to an event for bob casey who very, very gay friendly -- >> stephanie: democrat.ice. i just said to my gay brethren there like yeah for casey with his gay stances but i'm not giving one penny to a guy who's anti-choice. i feel badly. >> stephanie: it is an important time for everything but i mean i almost can't believe, can you, some of these laws that are passing the transvaginal probes -- it is the most anti-woman era that i can remember since i've been alive and talking about politics. literally, you feel like have i woken up in 1952. >> it's true. it's so true. what i can't believe is why are the politicians who are the most anti-abortion the most anti-birth control? [huh] >> carol leifer will explain things to you. there are important things she will explain. 45 minutes after the hour. right back on "the stephanie miller show." >> ladies and gentlemen, prepare yourselves for a shock. >> announcer: it's "the stephanie miller show." >>we'll do our best to carry the flag from 6 to 9 every morning. >>liberal and proud of it. very, very excited about that and very