releases: https://www.sanders.senate.gov/newsroom/must-read/for-the-wealthiest-a-private-tax-system-that-saves-them-billions
Data license: MIT · Data source: dwillis/congress-press
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| url | title | date | year | month | party | chamber | state | member_name | bioguide_id | domain | scraper | source | date_source | text | has_text | collected_at | updated_at |
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| https://www.sanders.senate.gov/newsroom/must-read/for-the-wealthiest-a-private-tax-system-that-saves-them-billions | For the Wealthiest, a Private Tax System That Saves Them Billions | 2015-12-29 | 2015 | 2015-12 | Independent | House | VT | Bernard Sanders | S000033 | www.sanders.senate.gov | legacy | For the Wealthiest, a Private Tax System That Saves Them Billions By: NOAM SCHEIBER and PATRICIA COHEN Tuesday, December 29, 2015 WASHINGTON The hedge fund magnates Daniel S. Loeb, Louis Moore Bacon andSteven A. Cohenhave much in common. They have managed billions of dollars in capital, earning vast fortunes. They have invested millions in art and millions more in political candidates. Moreover, each has exploited an esoteric tax loophole that saved them millions in taxes. The trick? Route the money to Bermuda and back. With inequality at its highest levels in nearly a century and public debate rising over whether the government should respond to it through higher taxes on the wealthy, the very richest Americans have financed a sophisticated and astonishingly effective apparatus for shielding their fortunes. Some call it the income defense industry, consisting of a high-priced phalanx of lawyers, estate planners, lobbyists and anti-tax activists who exploit and defend a dizzying array of tax maneuvers, virtually none of them available to taxpayers of more modest means. In recent years, this apparatus has become one of the most powerful avenues of influence for wealthy Americans of all political stripes, including Mr. Loeb and Mr. Cohen, who give heavily to Republicans, and the liberal billionaireGeorge Soros, who has called for higher levies on the richwhile at the same time usingtax loopholes to bolster his own fortune. Continue reading here. | 1 | 2026-03-30T12:14:52Z | 2026-03-30T12:14:52Z |