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Thought you might be interested in this exclusive just out from Bloomberg News: an in-depth look at Bermuda reinsurance companies recently set up by some of the biggest U.S. hedge fund managers, structured to protect gains on hedge-fund investments from U.S. taxes.
Paulson Leads Funds to Bermuda Tax Dodge Aiding Billionaires By Zachary R. Mider http://bloom.bg/WKKjuz
Last year, about $450 million belonging to top executives at billionaire hedge fund [...] Sucker Alert? Insider Selling Surges After Dow 14,000 Insiders have been pulling out of stocks just as small investors are getting in. Selling by corporate executives has surged recently as the Dow Jones Industrial Average hit 14,000 and retail investors flooded into stocks. The amount of insider selling has usually preceded market selloffs. “In almost perfect coordination with an equity market that was rushing toward new all-time highs, insider sentiment has weakened sharply [...] Wynton Hall Common ground is hard to come by in Washington these days, but everyone, it seems, hates tax “loopholes.” Democrats claim they rob the government of revenue and benefit the rich. Republicans say tax loopholes distort free markets by letting the government pick winners and losers, thereby potentially introducing artificial and undesirable incentives. Indeed, during the 2012 presidential race, Republican vice presidential nominee Paul Ryan attacked tax loopholes for [...] An undocumented worker in southern Indiana told 13 Investigates just how easy it truly is.
He said four other illegal immigrants file tax returns using his address, even though none of them actually lives there. And he said this year, those four workers filed tax returns claiming 20 children live inside his small trailer home. As a result, the IRS sent the illegal immigrants tax refunds totaling more than $29,000.
But none [...] by Henry Blodget Jim Cramer just went on a great Twitter tirade about the outrageousness of the tax loophole that allows hedge-fund and private-equity managers to pay 15% “capital gains” taxes while you and I pay much-higher “ordinary income” rates. This loophole, which some think is one reason GOP front-runner Mitt Romney is scared to release his tax returns, is absurd. To be clear: There is no theoretical justification for it. None. The fact that the loophole exists is merely [...] Hot stuff: Jeff Bezos, CEO of Amazon, unveiling the new Amazon tablet, the Kindle Fire, last month. (Telegraph) The row has broken out only days after James Daunt, the managing director of Waterstone’s, criticised Amazon – calling it a “ruthless, money-making devil”. The new Amazon Price Check app and promotion, which is starting from this Saturday, will allow people to perform a price check on an item in a shop, by scanning in the [...] Hank Paulson knows the system is rigged (photo viw Wikipedia) When former Goldman Sachs exec Henry Paulson was Treasury Secretary he apparently gave his hedge fund buddies extremely helpful and lucrative secret information about his plans to seize Freddie Mae and Fannie Mac while still assuring the public everything was fine. To a room full of hedge fund mangers, including many of his former colleagues, Paulson let it be known the [...] Washington Times: It’s a scenario all too familiar to retailers: A customer walks in, asks to see a product, discusses it at length with the sales staff, and then pulls out his cellphone. Jason Brewer, vice president of communications and advocacy for theRetail Industry Leaders Association, explains what happens next: “He uses his smartphone to take a picture of the bar code on the back of the item, and then, right in [...] It’s a scenario all too familiar to retailers: A customer walks in, asks to see a product, discusses it at length with the sales staff, and then pulls out his cellphone. Jason Brewer, vice president of communications and advocacy for the Retail Industry Leaders Association, explains what happens next: “He uses his smartphone to take a picture of the bar code on the back of the item, and then, right in [...] Quote: The top 25 hedge fund earners took in $22.07 billion in 2010. Thanks to a generous tax loophole these billionaires will pay a top tax rate of 15 percent instead of 35 percent. Closing that loophole on just those 25 individuals – just 25 guys who wouldn’t miss a penny of it — would raise $4.4 billion, which is enough to rehire 126,000 laid-off teachers. Don’t know [...] Check this out, and do the math on it, average person here makes 86k annually. WASHINGTON (AP) — Summoned back from summer break, the House on Tuesday pushed through an emergency $26 billion jobs bill that Democrats said would save 300,000 teachers, police and others from election-year layoffs. President Barack Obama immediately signed it into law. Lawmakers streamed back to Washington for a one-day session as Democrats declared a need to [...] |
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