But allowing management fees for hedge funds to be taxed at capital gains rates (15%) instead of the normal income tax rate (35%)? That's a no-brainer. All the fast talk in the world can't produce even a colorable argument in favor of letting this insane loophole continue, and no one but the hackiest of Grover Norquist's tax jihad hacks should be willing to defend it.
So fixing this loophole ought to sail through Congress, right? Maybe a dozen of the most barefaced dead-enders will vote against it, but even most Republicans will realize that it's indefensible and join with Democrats to get rid of it quickly and cleanly. No muss, no fuss, shouldn't take more than a few hours of time. Right?