Sen. Harry Reid ☼ has informed private-equity funds that the Senate will not be closing the obscenely inequitable tax loophole that allows mega-billionaires to be taxed at 15 percent – lower than most working Americans. Harry says there simply isn't time in the busy Senate schedule. Seriously. And the Post points out that if there isn't time in 2007, there almost certainly won't be in 2008 either – "Congress tends to be leery of tax increases in election years.

Incredibly, for an investment of about $6 million dollars in lobbying fees – and another $6 million in political contributions – these elite Wall Street traders preserved a $6 billion tax break for themselves…. We have to end the rigged system in Washington that rewards big corporate interests at the expense of hard-working families.

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