So, now what?
It seems like only yesterday that Democrats were attacking Mitt Romney for taking advantage of private equity loopholes to pay only 14 percent of his income in taxes, with Nevada's senior senator leading the charge (“Harry Reid's hit on Romney,” RN&R, Sept. 6, 2012).
Well, the Democrats won, but journalists are now pointing out that no reforms have resulted.
“But a year later, the heated Democratic rhetoric of campaign season has fizzled,” the Boston Globe reported last week. “Concerted initiatives from the White House and Democrats in Congress to close the 'carried interest' loophole for hedge fund and equity managers have failed to materialize.”