Paul Krugman’s syndicated column on really hit me in the gut [“Why economics failed,” Opinion, May 3]. I can’t imagine an economic system being supported where 25 hedge-fund managers make more than twice what all the kindergarten teachers in America make. Capitalism as we practice it must be wrong as that’s the wrong outcome.
Not only is that the case, but our political system gives these 25 hedge-fund managers special tax breaks so they can keep more of their money. Some in our system would want to allow those 25 to pass along these billions of dollars, without taxes, to a dynasty that could live off that in luxury for generations.
We’ve gone off the track. Thank you Krugman for making this so clear.
John Pehrson, Seattle