Schumer Proposes U.S. Tax on People Like Facebook’s Saverin

Schumer Proposes U.S. Tax on People Like Facebook’s Saverin

Susan Walsh/AP Photo

U.S. Senator Charles Schumer, a Democrat from New York, left, accompanied by U.S. Senator Bob Casey, a Democrat from Pennsylvania, speaks during a news conference about legislation he's proposing that would impose a 30- percent capital gains tax on people like Facebook Inc. co-founder Eduardo Saverin, unless they show they didn’t renounce their U.S. citizenship to avoid taxes.