To the Editor:
Re “A Hedge Fund Republic?,” by Nicholas D. Kristof (column, Nov. 18):
I’m one of the fortunate ones whose tax rate will be increased if the Bush tax cuts aren’t extended for those earning over $250,000, and I mean that seriously. Those of us who have benefited so much from our country should show our appreciation.
I’m also a perfect example of the inefficiency of tax cuts for well-off people. My taxes were cut by $28,000 last year because, thanks to Congressional action, I didn’t have to make a mandatory 401(k) withdrawal. Because of that my spending increased by $0.
Jerry Trupin
Briarcliff Manor, N.Y., Nov. 18, 2010
Note from KBJ: If the letter writer is feeling munificent, he should donate money to the government. I have done him the service of tracking down the address.