One of the stories that I tell in Free Lunch when I talk about the hedge fund business in the United States and the hedge fund managers who pay taxes at the same rate as janitors... a 15% tax rate on their incomes... The average hedge fund manager in 2006, remember the hedge fund managers keep telling us that if you raise our taxes the whole economy be negatively affected, said that it was not fair to have them pay more than a 15% rate. Of course, school teachers and reporters pay 25% or 31%. Well-to-do Americans pay 35% and... the top hedge fund manager's average income was only $11 million... a week! But they can't afford the taxes.

What It Means

This is a placeholder explanation generated by the low-overhead model. It interprets "One of the stories that I tell in Free Lunch when I talk about the hedge fund business in the United States and the hedge fund managers who pay taxes at the same rate as janitors... a 15% tax rate on their incomes... The average hedge fund manager in 2006, remember the hedge fund managers keep telling us that if you raise our taxes the whole economy be negatively affected, said that it was not fair to have them pay more than a 15% rate. Of course, school teachers and reporters pay 25% or 31%. Well-to-do Americans pay 35% and... the top hedge fund manager's average income was only $11 million... a week! But they can't afford the taxes." in the context of "" to mean that wisdom is timeless.