Millionaire's Tax: Hedge Fund ‘Carried Interest' Tax - 15% - May Be Biggest U.S. Tax Loop Hole

``Senate Majority Leader Harry Reid, D-Nev., is expected to introduce his 5 percent millionaires tax surcharge Tuesday in the Senate, but another issue regarding tax fairness is making the rounds on Capitol Hill: raising the "carried interest" tax. Carried interest is the portion of hedge fund/alternative investment manager's income that stems from a manager's performance, and it's nice work, if you can get it.''