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Senator Ron Wyden wants to know why IRS has ignored hedge funds’ tax-avoidance strategy

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(Reuters) – Senate Finance Committee Chairman Ron Wyden has asked the Obama administration why the United States failed to stop a tax-avoidance strategy used by hedge funds, including John Paulson’s Paulson & Co, Bloomberg reported.

Wyden asked the U.S. Treasury Department and the Internal Revenue Service what they had done to challenge funds that channel investments through insurance companies in tax havens as a way to lower fund managers’ personal income-tax bills, according to the report. (http://r.reuters.com/wyp22w)

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“The department and the IRS have been aware of this loophole for over a decade,” and “appear to have made no progress in ending this kind of tax abuse,” Bloomberg quoted a June 12 letter by Wyden.

Reuters could not immediately verify the letter. Representatives for Paulson & Co could not be reached for comment outside regular U.S. business hours.

(Reporting by Supriya Kurane in Bangalore; Editing by Gopakumar Warrier)


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Colbert names Trump’s siege on DC the ‘Tinyman Square’ incident

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It wasn't quite Tiananmen Square, where a still-unknown number of Chinese protesters were murdered by the government in 1989, but it was the closest thing President Donald Trump managed to score this week.

After watching the footage of the military tear gas, beat and shoot at protesters so Trump could march from the presidential bunker to St. John's Church for the cameras.

"It was like Tiananmen Square," Colbert deemed. "Except, in Trump's case, Tinyman Square."

Trump claimed on "The Fox & Friends" that no one was tear-gassed, so it's unclear what was stinging people's eyes and making them cough, choke and tear up. The Park Police released a statement saying it wasn't tear gas. While the moment was captured on video from dozens of different camera angles, one protester actually grabbed a canister of Oleoresins Capiscum, or "OC," the gas that was used.

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Vladimir Putin must love watching the US fall apart: columnist

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New Yorker columnist Susan Glasser made the astute observation that if Russian President Vladimir Putin wanted to destabilize the United States with the election of President Donald Trump, he's clearly achieved his objective.

It was reported in March that Russian intelligence services are working to incite violence using white supremacist groups to try and sow racial chaos in the United States ahead of the November election.

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Conservative columnist links all Republicans to the attack on Lafayette Square

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Monday afternoon, President Donald Trump decided to walk across Lafayette Square for a photo-op. To get there, however, it took an outright battle with mounted park police, police covered in body armor and rattled Secret Service members who had just rushed the president to the bunker several nights before. Armed with semi-automatic weapons and military gear, they staged a siege on Lafayette Square against unarmed hippies, woke whites and people of color, again, forced to fight for justice.

Writing for the Washington Post Wednesday, conservative columnist Max Boot attacked Attorney General Bill Barr, who accepted responsibility for demanding that demonstrators be tear-gassed, beaten and shot with rubber bullets. Like Bull Conor ordering fire hoses on students marching in Birmingham, Alabama, Barr's attack on Lafayette Square for a photo-op proved he is willing to do what it takes to stroke the fractured ego of a president forced to cower in a bunker.

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