I'll make this short and sweet:
We've been given many excuses as to why the carried interest loophole, aka the Hedge Fund Manager Tax Exemption, hasn't been removed from the law yet. Democrats including President Obama have lied to us several times on this, assuring us its removal was imminent.
Astute observers note this hasn't happened. The highest-income Americans continue to pay the lowest rate of marginal tax of any Americans, including paying no tax whatsoever to New York City.
The wealthiest of the wealthy, paying the lowest marginal rate of tax of any Americans? And, not a peep from Obama on this topic? And, we're going to keep the rate of tax low on capital gains, making the loophole permanent?
My country is now only steps away from out-and-out feudalism.