--- title: "Meaning & Key Takeaway of: I think the idea that the hedge fund…" description: "\"I think the idea that the hedge fund manager gets lower taxes than the taxi driver or the physics professor is insane. The legislators who leave that p..." image: "https://sms4smile.com/quotes/i/b14/charlie-munger-458_derelict_i-think-the-idea-that-the-hedge-fund-man_343332.jpg" --- # I think the idea that the hedge fund manager gets lower… ![“I think the idea that the hedge fund manager gets lower taxes than the taxi driver or the physics professor is insane. The legislators who leave that policy in place are derelict in their duties to be rational and fair. There are plenty of them in both political parties. It's totally outrageous.” quote by Charlie Munger](https://sms4smile.com/quotes/i/b14/charlie-munger-458_derelict_i-think-the-idea-that-the-hedge-fund-man_343332.jpg) [Download](https://sms4smile.com/quotes/i/b14/charlie-munger-458_derelict_i-think-the-idea-that-the-hedge-fund-man_343332.jpg) [Open image](https://sms4smile.com/quotes/i/b14/charlie-munger-458_derelict_i-think-the-idea-that-the-hedge-fund-man_343332.jpg) > “I think the idea that the hedge fund manager gets lower taxes than the taxi driver or the physics professor is insane. The legislators who leave that policy in place are derelict in their duties to be rational and fair. There are plenty of them in both political parties. It's totally outrageous.” [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. The tax system unfairly favors hedge fund managers over ordinary workers, reflecting irrational policy and political neglect. **In simple terms:** Tax rules favor the wealthy, ignoring fairness. Key Takeaway Advocate for tax reform and accountability. Themes tax fairness politics inequality Mood frustrated critical Type political commentary When to use this quote - policy debates - voting decisions - financial planning - advocacy - public commentary Key Concepts public policy economic justice regulation Questions to Reflect On - How can citizens pressure legislators for fairer tax laws? - What reforms would balance incentives and equity? A Different Perspective Complex reforms face entrenched interests and legislative inertia. ★ ★ ★ ★ ★ No ratings yet [Derelict](https://sms4smile.com/quotes/about/derelict/) [Drivers](https://sms4smile.com/quotes/about/drivers/) [Duty](https://sms4smile.com/quotes/about/duty/) [Fairs](https://sms4smile.com/quotes/about/fairs/) [Fund](https://sms4smile.com/quotes/about/fund/) [Hedge fund](https://sms4smile.com/quotes/about/hedge-fund/) [Ideas](https://sms4smile.com/quotes/about/ideas/) [Insane](https://sms4smile.com/quotes/about/insane/) [Insane Legislators](https://sms4smile.com/quotes/about/insane-legislators-3186136/) [Legislators](https://sms4smile.com/quotes/about/legislators/) [Lower taxes](https://sms4smile.com/quotes/about/lower-taxes/) [Management](https://sms4smile.com/quotes/about/management/) [Managers](https://sms4smile.com/quotes/about/managers/) [Outrageous](https://sms4smile.com/quotes/about/outrageous/) [Party](https://sms4smile.com/quotes/about/party/) [Physics](https://sms4smile.com/quotes/about/physics/) [Plenty](https://sms4smile.com/quotes/about/plenty/) [Policy](https://sms4smile.com/quotes/about/policy/) [Political](https://sms4smile.com/quotes/about/political/) [Political parties](https://sms4smile.com/quotes/about/political-parties/) [Professors](https://sms4smile.com/quotes/about/professors/) [Rational](https://sms4smile.com/quotes/about/rational/) [Taxes](https://sms4smile.com/quotes/about/taxes/) [Taxes Taxi](https://sms4smile.com/quotes/about/taxes-taxi-3186137/) [Taxi](https://sms4smile.com/quotes/about/taxi/) [Taxi driver](https://sms4smile.com/quotes/about/taxi-driver/) [Thinking](https://sms4smile.com/quotes/about/thinking/) ## Related quotes > [It's my guess that something like 5% of GDP goes to money management and itsattendant friction. I define it broadly - annuities, incentive pay,…](https://sms4smile.com/quotes/charlie-munger/it-s-my-guess-that-something-like-5-of-gdp-goes-to-money-management/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [I've heard that one-half of the students at elite schools want to go into private equity or hedge funds. They want to keep up…](https://sms4smile.com/quotes/charlie-munger/i-ve-heard-that-one-half-of-the-students-at-elite-schools-want-to-go/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [The hedge fund known as "Long Term Capital Management" collapsed last fall through overconfidence in its highly leveraged methods, despite I.Q.'s of its principals…](https://sms4smile.com/quotes/charlie-munger/the-hedge-fund-known-as-long-term-capital-management-collapsed-last/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [Look at those hedge funds - you think they can wait? They don't know how to wait! I have sat for years at a…](https://sms4smile.com/quotes/charlie-munger/look-at-those-hedge-funds-you-think-they-can-wait-they-don-t-know-how/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [“The world is full of educated derelicts”](https://sms4smile.com/quotes/calvin-coolidge/the-world-is-full-of-educated-derelicts/) [Calvin Coolidge](https://sms4smile.com/quotes/author/calvin-coolidge/) > [The American elite is almost beyond redemption. . . . Moral relativism has set in so deeply that the gilded classes have become incapable…](https://sms4smile.com/quotes/charles-dickens/the-american-elite-is-almost-beyond-redemption-moral-relativism-has-2/) [Charles Dickens](https://sms4smile.com/quotes/author/charles-dickens/) > [The American elite ... is almost beyond redemption. 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This owner may be failing…](https://sms4smile.com/quotes/richard-blumenthal/this-junkyard-is-an-environmental-nightmare-strewn-with-tree-stumps/) [Richard Blumenthal](https://sms4smile.com/quotes/author/richard-blumenthal/) > [Persistence and determination alone are omnipotent.](https://sms4smile.com/quotes/calvin-coolidge/persistence-and-determination-alone-are-omnipotent/) [Calvin Coolidge](https://sms4smile.com/quotes/author/calvin-coolidge/) > [Remember Motown? Not just the driving music that swept the nation and the world, but the vibrant energy of the Motor City itself, symbolizing…](https://sms4smile.com/quotes/gerald-celente/remember-motown-not-just-the-driving-music-that-swept-the-nation-and/) [Gerald Celente](https://sms4smile.com/quotes/author/gerald-celente/) > [The biggest part of painting perhaps is faith, and waiting receptively, content to go any way, not planning or forcing. The fear, though, is…](https://sms4smile.com/quotes/emily-carr/the-biggest-part-of-painting-perhaps-is-faith-and-waiting-receptively/) [Emily Carr](https://sms4smile.com/quotes/author/emily-carr/) ## More by Charlie Munger > [Almost all good businesses engage in 'pain today, gain tomorrow' activities.](https://sms4smile.com/quotes/charlie-munger/almost-all-good-businesses-engage-in-pain-today-gain-tomorrow/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [If you want good behavior, don't pay on a commission basis. Our judges aren't paid so much a case. We keep them pretty well…](https://sms4smile.com/quotes/charlie-munger/if-you-want-good-behavior-don-t-pay-on-a-commission-basis-our-judges/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [Acquire worldly wisdom and adjust your behavior accordingly. If your new behavior gives you a little temporary unpopularity with your peer group then to…](https://sms4smile.com/quotes/charlie-munger/acquire-worldly-wisdom-and-adjust-your-behavior-accordingly-if-your/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [I think time and time again, in reality, psychological notions and economic notions interplay, and the man who doesn't understand both is a damned…](https://sms4smile.com/quotes/charlie-munger/i-think-time-and-time-again-in-reality-psychological-notions-and/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [I have what I call an iron prescription that helps me keep sane when I naturally drift toward preferring one ideology over another and…](https://sms4smile.com/quotes/charlie-munger/i-have-what-i-call-an-iron-prescription-that-helps-me-keep-sane-when/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [The tax code gives you an enormous advantage if you can find some things you can just sit with.](https://sms4smile.com/quotes/charlie-munger/the-tax-code-gives-you-an-enormous-advantage-if-you-can-find-some/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [The great lesson in microeconomics is to discriminate between when technology is going to help you and when it's going to kill you. 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It’s the one sin you can’t have any fun at.](https://sms4smile.com/quotes/charlie-munger/what-good-is-envy-it-s-the-one-sin-you-can-t-have-any-fun-at/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [We believe that almost all really good investment records will involve relatively little diversification. The basic idea that it was hard to find good…](https://sms4smile.com/quotes/charlie-munger/we-believe-that-almost-all-really-good-investment-records-will/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [It is way less certain to be a wonderful business in the future. The threat is alternative mediums of information. Every newspaper is scrambling…](https://sms4smile.com/quotes/charlie-munger/it-is-way-less-certain-to-be-a-wonderful-business-in-the-future-the/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [In the corporate world, if you have analysts, due diligence, and no horse sense, you've just described hell.](https://sms4smile.com/quotes/charlie-munger/in-the-corporate-world-if-you-have-analysts-due-diligence-and-no/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [We have to have a special insight, or we'll put it in the 'too tough' basket. All of you have to look for a…](https://sms4smile.com/quotes/charlie-munger/we-have-to-have-a-special-insight-or-we-ll-put-it-in-the-too-tough/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) > [I've heard that one-half of the students at elite schools want to go into private equity or hedge funds. They want to keep up…](https://sms4smile.com/quotes/charlie-munger/i-ve-heard-that-one-half-of-the-students-at-elite-schools-want-to-go/) [Charlie Munger](https://sms4smile.com/quotes/author/charlie-munger/) [Explore all 544 Charlie Munger quotes ](https://sms4smile.com/quotes/author/charlie-munger/) ## More Derelict quotes > [The biggest part of painting perhaps is faith, and waiting receptively, content to go any way, not planning or forcing. The fear, though, is…](https://sms4smile.com/quotes/emily-carr/the-biggest-part-of-painting-perhaps-is-faith-and-waiting-receptively/) [Emily Carr](https://sms4smile.com/quotes/author/emily-carr/) > [Remember Motown? Not just the driving music that swept the nation and the world, but the vibrant energy of the Motor City itself, symbolizing…](https://sms4smile.com/quotes/gerald-celente/remember-motown-not-just-the-driving-music-that-swept-the-nation-and/) [Gerald Celente](https://sms4smile.com/quotes/author/gerald-celente/) > [Persistence and determination alone are omnipotent.](https://sms4smile.com/quotes/calvin-coolidge/persistence-and-determination-alone-are-omnipotent/) [Calvin Coolidge](https://sms4smile.com/quotes/author/calvin-coolidge/) > [This junkyard is an environmental nightmare, strewn with tree stumps, old tires, derelict vehicles, scrap metal and other waste. This owner may be failing…](https://sms4smile.com/quotes/richard-blumenthal/this-junkyard-is-an-environmental-nightmare-strewn-with-tree-stumps/) [Richard Blumenthal](https://sms4smile.com/quotes/author/richard-blumenthal/) > [In high school, I was an absolute derelict.](https://sms4smile.com/quotes/kevin-parker/in-high-school-i-was-an-absolute-derelict/) [Kevin Parker](https://sms4smile.com/quotes/author/kevin-parker/) > [Nothing is more common than unsuccessful people with talent.](https://sms4smile.com/quotes/anonymous/nothing-is-more-common-than-unsuccessful-people-with-talent/) [Anonymous](https://sms4smile.com/quotes/author/anonymous/) > [When you play so many outcasts and derelicts, or even a murderer, you need to play someone healthy.](https://sms4smile.com/quotes/william-sanderson/when-you-play-so-many-outcasts-and-derelicts-or-even-a-murderer-you/) [William Sanderson](https://sms4smile.com/quotes/author/william-sanderson/) > [“The three-story derelict is home to Smitty, Gale, and Gale's baby - a nuclear family nested on the corner - and Ella is accustomed…](https://sms4smile.com/quotes/david-simon/the-three-story-derelict-is-home-to-smitty-gale-and-gale-s-baby-a/) [David Simon](https://sms4smile.com/quotes/author/david-simon/) > [The American elite ... is almost beyond redemption. Moral relativism has set in so deeply that the gilded classes have become incapable of discerning…](https://sms4smile.com/quotes/ambrose-evans-pritchard/the-american-elite-is-almost-beyond-redemption-moral-relativism-has/) [Ambrose Evans-Pritchard](https://sms4smile.com/quotes/author/ambrose-evans-pritchard/) > [The American elite is almost beyond redemption. . . . Moral relativism has set in so deeply that the gilded classes have become incapable…](https://sms4smile.com/quotes/charles-dickens/the-american-elite-is-almost-beyond-redemption-moral-relativism-has-2/) [Charles Dickens](https://sms4smile.com/quotes/author/charles-dickens/) > [“The world is full of educated derelicts”](https://sms4smile.com/quotes/calvin-coolidge/the-world-is-full-of-educated-derelicts/) [Calvin Coolidge](https://sms4smile.com/quotes/author/calvin-coolidge/) > [Oh, I haven't reached any peak. I hit the bottom in the '60s. 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The legislators who leave that policy in place are derelict in their duties to be rational and fair. There are plenty of them in both political parties. 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