Washington's failure to close a tax loophole that lets money managers underpay their taxes to the tune of billions of dollars a year is emblematic of all that's wrong with the political process, writes James Surowiecki. Congress tends toward inertia, Surowiecki notes, so even clearly popular and necessary reforms move at a painfully sluggish pace. "Too often, we're using horse-and-buggy laws to deal with a Formula One world," he writes. "We shouldn't be too surprised when we get run over."
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