By renouncing his US citizenship, Facebook co-founder Eduardo Saverin will save hundreds of millions of dollars in taxes. In this clip, The Nation’s Ilyse Hogue explains that Saverin’s decision is part of a larger problem: “These guys [have] become emblematic of a class of 1 percenters who think they don’t owe anything to the countries that made them great.”

For more, read “Lessons in Disloyalty: Eduardo Saverin and the Facebook IPO.”

—Erin Schikowski