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Eric Schmidt has applied to become a citizen of Cyprus

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Re: Eric Schmidt has applied to become a citizen of Cyprus

#331

Earlier quoted context omitted.

The question, then, is why we bothered effectively handing Page and Brin free startup funds without claiming any IP or equity stake in the resulting products, then act surprised when they don't want to pay taxes on the money they made.

Isn’t the US government not allowed to own any IP? I’m pretty sure the Constitution says so. That’s why JPL is a thing; so NASA can pay JPL to do research (giving JPL, a company, the IP).

> Isn’t the US government not allowed to own any IP? I’m pretty sure the Constitution says so.

Not exactly. Anything created by the government and it's employees is automatically public domain (so, no copyright), but the government can and does get copyrights assigned to it[0] all the time for things created by vendors and contractors (this is negotiated in advance).

So, the government can own copyrights, if it acquires them.

[0] sometimes the US government just gets a perpetual, worldwide, yadda, yadda license instead. Typically not sublicensable, though. This can be a really sweet deal for the vendor, and really annoying for the public, particularly when it comes to data sets created with public funds.

Re: Eric Schmidt has applied to become a citizen of Cyprus

#332

Earlier quoted context omitted.

This is very misleading. US government heavily taxes people and organizations and spends on certain projects. But if people had more resources left to themselves, they could spend some of it on the same projects US gov spends it on. On top of that, US gov has all kinds of laws and regulations that make it difficult to do certain valuable things. For example, if companies in the same industry come together to do somet…

How many people would have used their tax cuts to fund a wide area packet-switching network or space program?

Elon Musk is funding a space program to put people on Mars via SpaceX. NASA has not improved rocket technology since the 1970's and SpaceX is on track to have a fully reusable rocket the size of the Saturn IV in the next few years and people to Mars not long after.

Re: Eric Schmidt has applied to become a citizen of Cyprus

#333

If this is indeed for a tax dodge, what's funny is that the US Government helped fund Google. Or, more accurately, they funded the research into the seemingly esoteric problem that became Google; > In 1995, one of the first and most promising MDDS grants went to a computer-science research team at Stanford University with a decade-long history of working with NSF and DARPA grants. The primary objective of this grant…

This is not a tax dodge. My guess is he's recognised that Trump is not going to concede to this coup attempt and is worried about the consequences. It is interesting to me that Cyprus does not extradite. Here is the conversation he and Jared Cohen had with Julian Assange: https://wikileaks.org/Transcript-Meeting-Assange-Schmidt

Coup? The voters decided for Biden. There’s no “coup” happening.

Re: Eric Schmidt has applied to become a citizen of Cyprus

#334
post #270

Why are people assuming this is a tax issue? It's just most people find it nicer to live in the EU, even billionaires, and especially if you don't need to worry about work.

If that were the case, then why wouldn't he try to obtain citizenship in the country he's moving to? Why Cyprus?

why a Cypriot passport he can live in France or Germany or Italy or any other EU state. But Cyprus provides passports quickly. Malta and Portugal are also quite good in this regard.

Re: Eric Schmidt has applied to become a citizen of Cyprus

#335
post #325

Earlier quoted context omitted.

> Renouncing citizenship never works as a tax dodge, unless you have some reason to expect large future gains in your assets that aren't reflected in their current market prices. It also could make sense if you expect future income tax rates to be much higher, or if you expect new taxes (e.g., wealth taxes) to be enacted.

Or if you expect a major bear market and you were going to liquidate your holdings anyway.

Rich people don’t liquidate due to the huge tax consequences. They would purchase derivatives to de-risk their portfolio.

Re: Eric Schmidt has applied to become a citizen of Cyprus

#336

Earlier quoted context omitted.

How many people would have used their tax cuts to fund a wide area packet-switching network or space program?

Elon Musk is funding a space program to put people on Mars via SpaceX. NASA has not improved rocket technology since the 1970's and SpaceX is on track to have a fully reusable rocket the size of the Saturn IV in the next few years and people to Mars not long after.

Except NASA funded and helped create SpaceX.

Here are some of their contributions,

> The injector at the heart of Merlin is of the pintle type that was first used in the Apollo Lunar Module landing engine (LMDE).

> To meet that need, in 1994, just as Fastrac was getting underway, Majumdar began developing the Generalized Fluid System Simulation Program, or GFSSP, which was first used by the Agency’s analysts in October 1996. NASA employees used the software for the Fastrac turbopump, and even though the program was cancelled in the early 2000s, the turbopump became the predecessor for others like it, such as SpaceX’s Merlin rocket engines, which power the company’s Falcon 9 commercial launch vehicle.

> The basic principles of the Fastrac design (namely, a pintle injector and ablatively cooled chamber) lived on in SpaceX's Merlin 1A engine, which used a turbopump from the same subcontractor.[18] The Merlin-1A was somewhat larger with a thrust of 77,000 lbf (340 kN) versus 60,000 lbf (270 kN) for Fastrac. The same basic design was capable of much higher thrust levels after upgrading the turbopump. Variants of the Merlin-1D achieve 190,000 lbf (850 kN) of thrust as of May, 2018,[19] though the combustion chamber is now regeneratively cooled.[20]

https://en.wikipedia.org/wiki/Fastrac_(rocket_engine)

> Hackler: Did NASA share any technological types of lessons learned that influenced your vehicle?

> Giger: Yes, Mike Horkachuck and Warren Ruemmele were very good about looking at our system, seeing how it was similar or dissimilar to Shuttle, Apollo, Mercury, Gemini, any other program in history, and trying to share those lessons learned. For example, parachutes. We were able to get a lot of data from the Apollo Program, from the Orion Program even, and leverage lessons learned from them on that.

> A lot of joint technologies, too. We learned about PICA, Phenolic Impregnated Carbon Ablator tiles that we use on our heat shield, which was originally developed in conjunction with NASA. We learned a lot from how they did that, and they helped us bring that technology in house, which was great. Now we build our own variant of that in-house. There were numerous kinds of examples of that, where they shared technology or lessons learned that we then either incorporated in the design, or took that technology to the next level here, which was great.

Much of the materials technology, engine design, engineering simulations etc. at SpaceX were derived from NASA expertise and knowledge. Furthermore, this was all done largely on NASA's dime. NASA gave SpaceX an extremely favourable deal and is its single largest investor.

> Fourth, we took no equity. The reason the decision was to take no equity was that in the world of venture capital, sometimes you make poor investment decisions and you get no money back. Sometimes you make really good investment decisions, and you get five times your money back or ten times your money back. But you almost never get one time your money back.

> I knew enough about the federal government to know that if you invested money and you got none of your money back, everybody would get angry. But it also turns out that if you invest money and you get five times your money back, everybody gets angry too, because then you’re competing with the private sector. There’s no way that when you’re doing innovation like this you could expect that you were going to get one times your money back. That’s just silly. It was better to take no equity at all.

This is from the oral histories, https://historycollection.jsc.nasa.gov/JSCHistoryPortal/hist...

So NASA gives them access to technological expertise + historical engineering data + designs + prior NASA IP, gives them cash for development, takes no equity, let's SpaceX retain IP, and provides a guaranteed market.

SpaceX is doing incredible work and they're bringing these technologies to the market. They're making the sexy iPhone from the unsexy fundamental science done by NASA for them, and this development is being mostly funded by the tax payer, with nominal (up to 30% to 50%) private contribution.

I would hold them up as a model for how to blend the best elements of public works & private enterprise, and a model on how to do public-private partnerships.

Re: Eric Schmidt has applied to become a citizen of Cyprus

#337
post #307

Earlier quoted context omitted.

It's amazing to me how strongly people want to believe there's some magical way that rich Americans are avoiding taxes by hiding money in exotic locales. This was possible in the past for Americans, but it doesn't make sense anymore. That's the truth. The secretive Swiss banks and numbered accounts you read about in adventure novels as a kid are all reporting on US citizens now. It doesn't matter how much resources E…

Uh what? There is no "the US government has more resources" – like it's a big blob. It comes down to something like the IRS enforcement division, which is consistently getting kneecapped with budget cuts. So no, actually it really is between your 15 high priced lawyers and whatever team of 5 people the IRS has working your case with limited time because they're stretched thin.

FATCA compliance issues won’t just get the IRS on your back. You also have to deal with the US department of treasury.

The US treasury is not handicapped by regulation in the same way the IRS is. We’re talking extradition and jail time, not just having to pay back taxes.

The Venn diagram of banks where you’d feel safe storing millions of dollars and that would also be willing to help you defraud the US Treasury are exceedingly small. It’s just not practical.

Re: Eric Schmidt has applied to become a citizen of Cyprus

#338
post #211

Earlier quoted context omitted.

This is not a tax dodge. There is no way to dodge taxes as a US citizen by moving abroad, the US is the only country in the world with a real global taxation system. EDIT further information I posted below: The US has the unique position of being able to actually enforce this due to the fact the USD is the reserve currency of the world and every country needs to stay on the good side of the US Treasury to transact in…

> In fact, the laws are so strict, they make living abroad as an honest middle-class expat a total nightmare. I have friends who cannot find a single bank in their country that will work with them because of the reporting requirements of working with US citizens. What? This is not true at all. Getting a bank in most other countries is not hard at all and certainly not a "nightmare." As a U.S. citizen you must still f…

> Getting a bank in most other countries is not hard at all and certainly not a "nightmare."

I don't know about "most" countries, but my American colleagues in Germany and Switzerland complained about the difficulty of doing anything related to finance (banks, brokers, taxes) because of their extra tax liability. I personally had to sign quite a few forms certifying that I am not a US citizen or a greencard holder or in any other way tax liable in the US, so it does seem to be a big deal.

Re: Eric Schmidt has applied to become a citizen of Cyprus

#339

Earlier quoted context omitted.

This is not a tax dodge. My guess is he's recognised that Trump is not going to concede to this coup attempt and is worried about the consequences. It is interesting to me that Cyprus does not extradite. Here is the conversation he and Jared Cohen had with Julian Assange: https://wikileaks.org/Transcript-Meeting-Assange-Schmidt

Coup? The voters decided for Biden. There’s no “coup” happening.

The election hasn't been decided FYI and you are woefully uninformed. Lookup Dominion, Scorecard and Hammer or just search the internet for "2020 election fraud". Biden is illegal, illegitimate and will not be the President of the United States.

If you want to understand why one indicator available to you is to look at network viewership.

From Friday (Fox is usually top):

MSNBC - 2.9m

CNN - 4m

Fox - 2.2m

Fox has also lost 50k likes from its facebook feed - it seems NewsmaxTV will be the big winner after this. Part of me likes to think Murdoch just wanted to move Fox to the center to sell it but given who he is him and Lochlann probably just thought they could play kingmaker again and get away with it. Comcast is also hurting - just look at the ratio under this: https://twitter.com/SkyNews/status/1325918816644304896?s=20.

There are 131 affadivits in Detroit and RealClearPolitics just pulled their PA call. If you put money on Biden I would cash out NOW!

Personally what I want to know is whether Podesta will end up spilling the beans on Madeleine McCann after this?

Re: Eric Schmidt has applied to become a citizen of Cyprus

#340
post #307

Earlier quoted context omitted.

Uh what? There is no "the US government has more resources" – like it's a big blob. It comes down to something like the IRS enforcement division, which is consistently getting kneecapped with budget cuts. So no, actually it really is between your 15 high priced lawyers and whatever team of 5 people the IRS has working your case with limited time because they're stretched thin.

FATCA compliance issues won’t just get the IRS on your back. You also have to deal with the US department of treasury. The US treasury is not handicapped by regulation in the same way the IRS is. We’re talking extradition and jail time, not just having to pay back taxes. The Venn diagram of banks where you’d feel safe storing millions of dollars and that would also be willing to help you defraud the US Treasury are e…

> The Venn diagram of banks where you’d feel safe storing millions of dollars and that would also be willing to help you defraud the US Treasury are exceedingly small. It’s just not practical.

You only need 1. However, the solution isn’t to move money from your account to a bank which then hides what’s going in from the US government. The solution is to make a terrible investment say buying land from Bob for 10 million only to sell it to Sally for 5 million. Meanwhile an associate of Bob, Sally, or both moves 4 million to a holding company owned by you.

That gets 4 million in a secret account, let’s you offset capital 5 million in capital gains, and pays 1 million for money laundering.

Repeat as needed. Sure, 4 million in a hidden account is less useful day to day, but it’s insurance if you need to flee the country or happened to go bankrupt etc.

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