Congress, looking for sources of revenue, happened upon an extraordinary loophole enjoyed by the extraordinarily rich private equity and hedge fund managers, effectively allowing these managers to pay taxes on their earnings at a 15% rate. Pretty nice for people making hundreds of millions a year. While this looks like a simple fix, long overdue, there isnÃ¢â¬â¢t much support for it in Congress Ã¢â¬â on either side of the aisle!