The Corner

Re: Re: Hey, Hedge Fund Guys

“Hedge Fund Guys” give disproportionately to Democrats and liberal causes, a phenomenon I wrote about for NRO back in July:

A top Republican fundraiser I talked to simply didn’t believe these numbers could be accurate. He pointed to a number of high-profile hedge-fund managers who have given to Republicans, such as Paul E. Singer, a founding partner at Elliott Associates and major Giuliani backer. When I asked him to assume that the numbers were correct for argument’s sake, he said, “Then it would be the stupidest thing I could imagine.”

Then why do they do it?

Hedge-fund managers tend to live near the top of cosmopolitan, culturally liberal societies. They tend to find Republican positions on embryo-destroying stem-cell research and gay marriage to be nothing short of primitive. They tend to be extremely bright and thus prone to the fallacious idea that if more people like them ran the government, they could solve just about any problem with a new government program. They can afford higher taxes.

Unfortunately, the rest of America can’t. Investment capital is the lifeblood of business expansion and job creation, and the idea that Congress can’t find offsets in the bloated federal budget and must raid Wall Street for more money is preposterous. I know — no one deserves to have their taxes raised quite like these extremely well-compensated benefactors of the party that seeks to destroy them. However, as usual, it’s up to conservatives to know better.

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