Many people no doubt share Norquist's sympathy for the plight of fund managers. The cost of living is soaring for fund managers. A proper vacation home can easily run into the tens of millions of dollars, as does a decent sized home in the Hamptons. The price of yachts and private jets keeps getting higher as do luxury boxes at major sporting events. And an elite private nursery school - a necessity for getting children on the right track in life - can run $40,000 a year. That's almost two hours of work for many fund managers.

While the situation of fund managers may be dire, we have to ask ourselves whether subsidizing them is really the proper role for government. Those people who sympathize with the hard times facing fund managers can always contribute to charities that help them make ends meet. They can even hold bake sales and walkathons, involving the whole community in voluntary fundraising efforts to assist the fund managers.