Letter to | the Editor

To the Editor:

Ten years ago, Wall Street’s billionaires who were “too big to jail” deliberately crashed our economy and didn’t care about working families who got damaged. With virtually no strings attached, American taxpayers propped them up “for the greater good.” Today, no other industry is more profitable or more powerful.

Today, the conservatives in Congress who wanted to shrink the deficit under Obama want to rig the system even more against working families and in favor of powerful CEOs and corporate fat cats so they can blow an even bigger hole in our national debt.

It’s ridiculous that President Trump and Republican U.S. Rep. David Young are proposing huge tax giveaways for the richest among us. David Young already voted for this in the U.S. House.

Did you know President Trump’s family and his billionaire cabinet members’ families stand to get billions in “tax relief?” This will be by eliminating the estate tax, which currently only applies to the small number of inheritances valued at almost $11 million for couples. Is your estate worth $11 million? If not, the estate tax has no effect in your life. If Wall Street paid its fair share, we could give back to communities and families that were harmed by the Great Recession. It’s shameful that Rep. David Young decided to stand up for the wealthy few against the working families of Soutwest Iowa.

Matthew Pierce, Urbandale