Paul Krugman: Anger, Not Envy, Is Raising American's Ire

Suddenly, or so it seems, inequality has surged into public consciousness - and neither the 1 percent nor its reliable defenders seem to know how to cope.

Some of the reactions are crazy - "it's Kristallnacht," "they're coming to kill us" - and the craziness is quite widespread.

Notice how many billionaires, plus of course The Wall Street Journal, rallied around the venture capitalist Tom Perkins (who compared public criticism of the 1 percent to Nazi attacks on Jews in a letter to the editor of The Journal in January).