So, once again, Congress refuses to act, so billionaire hedge fund managers can continue to pay less in taxes than the janitors who clean their offices:

Once again a key piece of news has passed virtually without comment.

While the entire nation argues over nonsense like the WTC Mosque, Rick Sanchez, and, yes, blue-red culture war stuff like the Tea Party, congress yesterday quietly took a knee on the “carried interest” tax question. In doing so they decided not to take a vote on changes already approved by both houses that would scale back perhaps the most preposterous tax break in the entire federal code, one that leaves hedge-fund gazillionaires like Stevie Cohen and John Paulson paying less than half the top tax rate paid by most middle and upper-middle class Americans.

In case you don’t recognize the writing style, it’s Matt Taibbi, and I suggest that you read the whole article, because he communicates the disgust that I feel far more cogently that I ever could.