Schumer Proposes Bill to Penalize Tax Dodgers

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May 17 (Bloomberg) -- U.S. Senator Charles Schumer, a New York Democrat, talks 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. Saverin renounced his U.S. citizenship before Facebook's initial public offering and will avoid $67 million in federal income tax, according to a Bloomberg analysis of the company's stock price.(Source: Bloomberg)

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