Tax break? They want more free stuff... errrr... entitlements. FREE FREE FREE
Everyone wants more for less...how about the 20% break, a 15% tax instead of 35% on carried interest for managers and partners of private equity funds, venture capital funds, and hedge funds? Stock brokers, investment bankers, and financial planners don't get that break. Would hedge funds dissapear to another continent if they paid the same taxes as other capital investment firms?
I think not.
The idea was that managers of these funds would want to maximize performance...well who doesn't want to maximize performance? If you pay less taxes on what you earn, effectively you can take more risks in your investment portfolio. Risk isn't what the US economy needs more of...