If there is one tax loophole that looks dead in the water, it's the law that lets hedge fund and private equity managers pay a 15-percent capital-gains rate on the multimillion-dollar fees they collect -- substantially less than the top income tax rates paid by their secretaries, chauffeurs, and the pilots of their private jets.
On the surface, the stars are aligned. There is a newly elected Democrat in the White House who is desperate to raise revenues. His budget calls...
]]>