Carried Interest Taxation Reform Fails

Hot on the heels of my previous post, the Wall Street Journal reports that the Senate will not include as part of an upcoming spending bill a measure to tax carried interest as normal income.  Democrat leaders could not round up 60 votes to pass such a version of the bill, so they decided to ignore majority rule and let Republicans continue to pillage our fiscal system. The spending bill is the same one that would have extended unemployment benefits for 1.3 million Americans.  Ideology is again beating empiricism.