Opinion

Letter to the editor: Capitalism has a capital imbalance


Published: November 7, 2009

To the editor:

I would like to respond to the headline on the letters page last week that read: "What's Wrong With Capitalism?"

If that person does not see any problems with capitalism, I would like to leave that person with just one thing to think about: 40 percent of the income earned in these United States of America goes to the top 1 percent of the people.

Breaking that down to percentiles of 100 people, that means that one person gets $40 and the other 99 get an average of $6 each.

I see that distribution of income as an undeniable and essential problem with capitalism.

jack o'maley

Cherry Street, Gloucester