While the administration tries to paint carried interest as a benefit for those famous 'millionaires and billionaires' in reality, the real estate market would take the biggest hit as a result of the tax hike:

Real estate depends on carried interest as a crucial component of its investment strategy. Development of hospitals, hotels, shopping centers and under served neighborhoods carries risks, and partners combine to insure against these risks by granting the general partner the carried interest. This protects against potential holdups, such as construction overruns or changes in public policy.

Yeah, that sounds like a smart move in this economy.  Let's dry up what little real estate investment we have left.

Now, Democrats have tried to push this through tax hike before, and faced opposition from such giants of fiscal conservatism like John Kerry. (snort) But the concern is that as the super committee gets increasingly frantic to hit its mark, they'll fall for something like this since its perceived as only hurting "the one percent."  That would be a hugely shortsighted move, especially considering the dire consequences for the real estate market.  Republicans like Upton and Camp need to know that they are being held accountable back home for the actions the super committee takes.

Frankly a combination of hard spending cuts (Departments of Energy, Education, etc..) and ALLOWING growth is the only way we will escape this economic spiral downward, and the 'super committee' is hardly going to solve the growth part by putting an additional burden on what is currently the poorest performing, yet one of the largest sectors of our economic being.