I'm also a tax guy and don't expect to see any changes regarding the tax treatment of MLP's. The killer is when you sell the investment and the cumulative recognition of past distributions as ordinary income. Best to keep these things for the kids and get the stepped up basis. They get to start the process all over again.
Agreed. One of the best ways to get yield on taxable accounts out there. If the taxation of MLP's are left untouched, I expect to see inflows coming in with higher rates on dividends. And I expect a compromise... but rates on dividends will still go up.