As the law stands now, [hedge-fund manager's] income is considered "carried interest," and is accordingly taxed at the capital gains rate of 15 percent.
According to former labor secretary Robert Reich, in 2009 "the 25 most successful hedge-fund managers earned a billion dollars each."...Closing this outrageous loophole would bring in close to $20 billion in revenue—money desperately needed at a time when teachers and nurses and firemen are being laid off all around the country.
Arianna Huffington
