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Retirely in The things you own end up owning you,

Obama doesn’t need congress to close the carried interest tax loophole, the Treasury Department already has the power to do it

“It’s something that Obama could accomplish and, to be honest, I’m not entirely sure why the Treasury hasn’t taken an interest in it,” Mr. Fleischer said in an interview. “In fact, there is quite a bit of revenue at stake. And doing this on carried interest would cement Obama’s legacy in substance as well as symbolically.”

Victor Fleischer, a law professor at the University of San Diego, is another who has recommended that the Treasury get rid of the unjust tax treatment on carried interest. Mr. Fleischer, a contributor to The New York Times, has also estimated how much money such a change would bring to the Treasury.

“The president’s first budget in 2009 — and every one since — has included a proposal to close this unfair loophole and we’ve been pushing Congress to get it done,” she added. “No one should be able to play by a different set of rules, so it’s time for Congress to act to close the carried interest loophole once and for all.”

Ending this tax benefit wouldn’t really help the lower and middle class citizens.  It would just be a feel good moment by sticking it to the ultra wealthy. I really don’t care if they end this tax advantage, but it really wouldn’t help anyone.

As far as I can tell, the tax break is that these people are only required to pay capital gains tax rates on their capital gains like other people and entities.

OK, eliminate the lower capital gains tax rate.