CULTURE OF CORRUPTION: DNC Chair Candidate Gave Clinton Donor’s Hedge Fund a Huge Tax Break. “In…

CULTURE OF CORRUPTION: DNC Chair Candidate Gave Clinton Donor’s Hedge Fund a Huge Tax Break. “In 2014, the hedge fund Renaissance Technologies asked Perez’s Department of Labor for permission to use a 401(k) to invest in Medallion, a profitable fund set up by billionaire James Simons—who donated $11 million to pro-Clinton Super PAC Priorities USA during the 2016 presidential election. Bloomberg reported in 2015 that the exemption granted by Perez’s Labor Department was the second afforded to Medallion, enabling the fund to skirt millions of dollars in taxes on investments. The hedge fund is in fact notorious for its tax-evading practices: In 2014, Renaissance Technologies was criticized by a bipartisan senate committee for disguising short-term profits as long-term capital gains to avoid $6 billion in taxes.”

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