Taxation of Carried Interest

Accepted wisdom in the US private equity industry has been that moves to tax carried interest as income are off the table because Obama has much bigger fish to fry . . . like General Motors, Iraq, Citigroup, health care, the Middle East. 

But according to yesterday's WSJ this is not in fact the case.  We're right near the top of his Christmas list.  Be afraid, be very afraid . . . .