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November 28, 2012

Letter: How much is enough?

Gloucester Daily Times

To the editor,

While Washington struggles precariously near the edge of a fiscal cliff over a few percentage points in the top income tax bracket, consider this.

Last year, the income of the head of a large hedge fund was $4 billion. If not just the top bracket, but all of that income were to be taxed at 99 percent, his income after taxes would still be $40 million.

That is 100 times as much as the salary of the president of the United States.

Wouldn’t that be enough?

Milt Lauenstein

Exeter, N.H.

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