Having said this, the 3.8% Medicare Surtax applies to rental real estate activities in a slightly different manner than the general income tax rules (i.e. those under Code Chapter One) do.

FORBES: Not so Fast: an Additional Obstacle for Real Estate Professional in the 3.8% Medicare Surtax

The Ryan outline by design does not include specifics other than a general instruction to the Ways and Means Committee to overhaul the corporate tax code and simplify the seven individual brackets into two tiers with a top rate of 25%.

WSJ: Review & Outlook: A Ryan Reboot

With all the hysterical talk about slowing takeovers with legislation, about curbing the spread of junk bond acquisitions and foreign buying of U.S. assets, few people seem aware that our current tax code--passed by Congress and approved in general by the business community--provides a huge bounty to people whether Americans or foreigners, who want to take over companies.

FORBES: How The Government Subsidizes Leveraged Takeovers

"REITs are a creation of the tax code, so it's no surprise that all parts of the tax code would subject to a review, " said Tony Edwards, general counsel of Nareit.

WSJ: Congress Looks at REIT Tax Exemption