For Valerie Jarrett, following President Obama’s lead as “point man” for repealing the carried interest loophole (which allows certain non-cap gain income to be taxed at capital gains rates), made good politics. But her personal wealth, it was good thing that the effort didn’t succeed.  The venerable Better Government Association of Chicago exposes the rank hypocrisy, if not worse, of Jarrett’s double approach to issue.  Chuck Neubauer and Sandy Bergo write: The loophole was applied to Jarrett’s earnings from a 2013 Chicago real estate deal involving a $160 million luxury apartment high-rise – earnings that topped $1 million and came while she was working for the White House as a senior advisor to the president, according to records and interviews. The term "carried interest" refers to money paid to wealthy investment managers that is taxed at the capital gains rate of 20 percent, about half the 39.6 percent maximum...(Read Full Post)