CALIFORNIA HEDGE FUNDS AND THEIR BILLION-DOLLAR TAX LOOPHOLE
Simply stated, the carried interest loophole is the mistreatment of hedge fund and private equity fees as capital gains, rather than ordinary income.... Read More
TRACKING THE HEDGE FUND BILLIONAIRE’S MONEY IN NEW YORK POLITICS
Recent events in Charlottesville are a sobering reminder that violent white supremacist groups are not the stuff of history, but a horrifying present-day reality for a country that continues to be torn apart by racism and the legacy of slavery.
Though these groups do not claim the membership rolls that the KKK did in its heyday, they have risen to new prominence over the past year, supported by infrastructure like Breitbart News and effectively urged on by a billionaire who owes his presidency to the race lie.... Read More
How Our State Can Raise Billions by Taxing Carried Interest
Across the country, states like New York stand to gain billions of dollars in revenue by closing the carried interest loophole.
It’s a long overdue element of financial reform that the federal government has failed to enact, despite bipartisan support for tax fairness.... Read More
July 30, 2015
Dear Governor Cuomo –
It is with a growing sense of outrage that we write to you today about the horrifying debt crisis in Puerto Rico. This is a crisis that several of your top New York hedge fund donors are actively exploiting and deepening, in a shameless, morally repugnant effort to make as much money as possible.... Read More
Cuomo’s Cronies: How Private School Billionaires Are Banking On Tax Credits From The Governor
Cuomo’s Latest Scheme: Tax Refunds for Billionaires Who Donate to Elite Private Schools and Privatized Charter Schools
Andrew Cuomo is probably the first Democratic governor in history to back tuition tax credits and taxpayer-funded subsidies to wealthy families who send their children to elite private schools.... Read More
The Gift of Greed: How Hedge fund Philanthropists Increase Inequality
“Consider this … your Yom Kippur. You’re going to donate a lot of money. Not enough, obviously, to offset all the s- you’ve done, but a lot.” – Jon Stewart at Robin Hood Foundation gala in 2009
The governing boards of the Robin Hood Foundation, an anti-poverty charity, are a picture of the extreme and growing concentration of wealth in American society.... Read More
Hedge Fund Hypocrisy: The Double Standard of Success Academy
Success Academy – the charter-school chain and political launching pad for anticipated mayoral candidate Eva Moskowitz — is a favored charity for many hedge fund managers.
But beneath their rhetoric about fighting poverty and supporting academic achievement is a real double standard.... Read More
Paul Tudor Jones, self-described income inequality crusader, purchases $71.2 million mansion
Hedge fund billionaire Paul Tudor Jones, who waxed apologetic about income inequality at his recent TED Talk, has just snapped up another waterfront mansion, this time on Palm Beach Florida’s “Billionaires’ Row.”
It’s an important investment for Tudor Jones, who only owns two other waterfront mansions.... Read More
ALBANY’S LATEST TAX BREAKS FOR BILLIONAIRES
Hedge Fund Managers and their Yachts and Planes and Helicopters; the State Budget and Cuomo and the Senate GOP; and the new multimillion dollar tax breaks for billionaires on their luxury toys
This year’s New York state budget includes new sales tax exemptions for luxury yachts and private aircraft, including private jets and helicopters.[i]
It’s a prime example of the power and influence of billionaires, hedge fund managers and their lobbyists, as well as the attention of the Albany political class to the care and feeding of their powerful patrons.... Read More
PAUL TUDOR JONES: Robin Hood or Robber Baron?
Paul Tudor Jones II is an American billionaire with a reported net worth according to Forbes of $4.6 billion. He is the founder of the Tudor Investment Corporation, a private asset management company and hedge fund.
He resides in Greenwich, Connecticut, does the bulk of his business in New York City, and makes large-scale political contributions in a number of states.... Read More