Eliminate the tax loophole for hedge fund managers which allows them to claim earned income as "carried interest".

President Obama should use his executive powers to revise the regulations currently allowing hedge fund managers to claim "carried interest" for income that is clearly earned by their work. That income should be taxed as ordinary income. This is the loophole we all learned about during the last presidential election, because it applies to Mitt Romney. See link: http://www.slate.com/articles/business/moneybox/2014/06/taxation_of_carr...