The day after the hedge fund results were released, the government reported that unemployment was stuck at 9.7 percent, with 15 million Americans out of work. For most people with a job, average earnings fell by 2 cents an hour in March, to $18.90. To add insult to injury, some hedge fund managers and, more commonly, private equity fund managers are able to pay a much lower rate of tax than the typical working professional. The tax disparity results from an outdated rule that lets a money manager in a private partnership treat a chunk of his fees as if they were long-term capital gains, taxed at a special low rate of 15 percent. Read more here.