To the Editor:
With the passage of the tax scam, the nation’s largest banks are in for a huge increase in earnings. Wells Fargo Bank, known for its $185 million fine for Fraudulently Opening Accounts and also Fined for a mortgage rate scandal will see an 18 percent increase in their earnings.
When the bank execs got caught, they blamed the little guy and fired 5,300 employees. The CEO goy a $12.8 million compensation. The bank had profits of $98 billion and paid a whopping 10 percent in taxes. How many of us had only a 10 percent tax rate? An increase of 18 percent in earnings means they will up their profits to $118 billion and probably pay even less in taxes.
On Dec. 23, President Trump was dining at Mar a Lago and told his close friends, “you all just got a lot richer”... And to think you actually believed this was a middle class tax cut. The Grinch in chief played you well.
As Founding Father James Madison said, “There are more instances of the abridgment of the freedom of the people by gradual and silent encroachments of those in power than by violent and sudden usurpations.”