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Senator Schumer's (Non) Take On P.E.

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There are a few people who consistently top the list when ranking Greedy Anti-Capitalists Carried Interest Tax Enemies, i.e. Private Equity Haters. Senator Charles Grassley. Andrew Ross Sorkin. Victor Fleischer. To name a few.
Then there are the Friends o’ P.E. Senator Inhofe. Treasury Secretary Hank Paulson. The WSJ Editorial Board.
But where does Senator Chuck Schumer, the democrat from New York and noted CVS Cocoa Butter devotee, rank? On the fence, apparently. At a small Hamptons Hedge get-together on Saturday, The Schum told DealBreaker that he is undecided when it comes to the taxation.
“I’m still thinking about it,” Schumer said.
So there you have it, private equity lobbyists. We're doing your job for you, discovering undecided Senators. Now just go contact your clients and tell them to get their checkbooks out. Because in Washington, "undecided" always means "now accepting campaign contributions."
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Chuck Schumer Is Ruining Facebook IPO Day For One Shareholder

As you may have heard, earlier this afternoon, Facebook priced its initial public offering at $38/share, valuing co-founder Eduardo Saverin's stake at approximately $2.9 billion. Since Saverin conveniently renounced his US citizenship last week, he will avoid paying millions in capital gains taxes and hang on to an estimated $67-$100 million that would have otherwise gone to the government, news that did not sit right with Chuck Schumer. Did the Senator from New York call the guy a "piece of shit miscreant"? No. Did he send him an email that included the line, "fuck with me and you will have a huge asshole"? No. But Schumer was inspired to create draft legislation aimed at tax-dodging ex-pats like Saverin and to let the kid know he makes him sick. Democratic Sens. Chuck Schumer (N.Y.) and Bob Casey (Pa.), who called Saverin's decision "despicable," said the Facebook co-founder stands to save $67 to $100 million in taxes by renouncing his citizenship. "Senator Casey and I have a status update for him: pay your taxes in full," Schumer said at a press conference on Capitol Hill. Their so-called "Ex-PATRIOT Act" would impose a mandatory 30 percent tax on American investments for those who renounce their citizenship and would also prohibit individuals like Saverin from re-entering the country. The law -- which only applies to individuals with a net worth of over $2 million or an average income tax liability of at least $148,000 -- would not apply to non-American investments by former citizens. Under the proposed legislation, the IRS would decide soon after an individual relinquishes his or her citizenship if the renouncement was motivated by tax avoidance. The individual would then have the opportunity to provide reasons for the renouncement, but there would be a "strong presumption" the move was for tax purposes. "Mr. Saverin has decided to 'defriend' the United States of America just to avoid paying his taxes," Schumer said, showing his familiarity with Facebook's lingo. [NYP]