Its about time someone stood up to Wall Street to do this. You put it exactly right when you said that they get their payday from this "carried interest."

Since these peoples jobs is to manage these hedge funds then this sounds like income to me.

I'm all against more taxes but tax loop holes like this that benefit only the richest of the rich bug me even more

Well, I am not a "wealthy person' . . . I've lived prudently within my means, own my home, have no indebtedness, and have comoftable savings for my and my wife's retirement.

I belive that the upper 3% of our population who reportedly own 90% of the wealth of our nation should be taxed relatively "firmly".

Now here is my quandry: Okay, so I have a few dollars in savings and no indebtedness . . . as a "reward" I should be able to take advantage of investing in the market, etc. when the recovery starts, right?

However, depending on how this new taxation plan works, I will have to carefully measure and balance the risks of investment and taxation against the potential gains that Imight make. And I can tell you now, that I will be extremely cautious about any future investments where I can lose substantial amounts of my investment principle.

Under the dire economic conditions, I certainly am not going to risks losing large amounts of money (not that I have that much); but relatively speaking.

I firmly believe that we have to pay down the unrecedented and extraordinary DEFICIT via various types of taxation; but I have to personally minimize my risks to the potential costs and taxation, and profit?

I hate to say it but the upper 30% to 3% of the wealthier people are going to have to bear the brunt of this taxation . . . the lower middle and lower classes are just barely managing to scrape by, even those of us who aren't indebted.

I didn't vote for Obama; and I don't agree with portions of his Stimuls Plan; but he has an extremely difficult job to do . . . and he can only accomplish it with the consent and approval of the majority of Congress. We just need to support the man in as much as is possible.

I urge you to support Legislation for LINE ITEM VETOS for the President. That is the only thing that gives him leverage to negotiate with Congress. The LINE ITEM VETO is a critical issue to clean up the legislation that Congress pases with a lot of built-in prok barrel and earmarks.

"Taxation" is the "tool" that government uses to steer the economy. Tax regulations, and tax "suspensions" and incentives are used to stimulate business investments.

If INTEGRITY is restore to the markets, the markets will recover more or less on their own . . . it is just that a lot of Americans will still not have the "fatih and confidence" to invest in the markets for quite some time . . . years to come. However, for the upper and ultra welathy who have been playing in hedge funds and equity funds, streamlined taxation and tax incentives would provide provide the motivation and incentives to invest in American manufacturing which desperately needs to be rebuilt from the ground up.

There will have to be some import taxation to give a competitive balance to American manufacturing; but these should not be overly protective tarrifs.

Personally, I just wonder that with all of the economic and political chaos in Washington, D.C., is there anyone actually analyzing and working on such changes n the tax Codes?

Do we have sufficiently intelligent Congressional leaders who can and will address these matters? Who don't have "vested interests" who will try to "game" the recovery programs?

Political and business leaders generally are "conceptual"/broad based in their thinking. They have to have the technocrats to analyze and to develop these programs; and it takes government too long to handle these matters.

i guess we just don't want anyone to succeed in america anymore, let alone invest. i don't make $250k or more, but why the heck would i want to anymore? just to be taxed more? the same goes with saving. the reason we are in this mess, is because people weren't saving enough. people spent beyond their means and continued to spend. so our plan is to promote more spending rather than saving by increasing capital gains tax? i guess no one in the "middle class" has 401k's either.

You know, there are a lot of people who worked hard, lived prudently, saved our money, and paid off our homes . . . people who lived within their incomes and prudently saved for their retirement.

Many of those retirees and those who have been saving have been decimated by the stock market crash because of the FRAUDS by the FIs and the investment firms and corporations . . . these modest investors depended on the oversight and regulations by the SEC and other regualtory agencies to maintain the stability and integrity of the markets from FRAUD . . . Congress is the culprit who let all ofthis FRAUD ocur.

There are a lot of good, conservative and prudent people who have been substantially impacted or even financially ruined because of the blatant corporate and politcal CORRUPTION, and the GREED of so many others.

I do not see any practicality or viablility in "bailing out" these irresponsible parties any further. If they can't make it with what they have at this point, they need to file for bankruptcy and just start over.

In the beginning of all of this, as I recall, there were only 1% or so of BAD Subprime mortgages . . . now our whole country is "going down the tubes" to save this "1%"? I think not . . . I think that all of this bailout expenditures is to mostly save the CORRUPT CORPORATIONS who still have influence over Congress.