Letter to the Editor: Show me the money

To the Editor:

Republicans passed a new tax bill in December. It was to bring money to the working class.

An example close to home is Walmart’s bonus plan. Interesting to note: you had to be with the company for at least 20 years to receive the full $1,000 bonus. The average length of Walmart employment is 3.3 years. That bonus was only $250. This does not cover what those workers are going to have to pay to cover the cuts in federal spending made up in an increase in state and local taxes and the increase to their health insurance premiums.

This was a one-time bonus for workers. Yet, the Walmart corporation will be reaping between $1 and $2 billion every year in tax savings from this new tax bill. There is no condition or rule in the bill that ensures that the corporations must secure additional gains for their workers with those tax savings such as wages keeping up with inflation, coverage for health care insurance, and more.

How does this legislation benefit the working people in northeast Iowa? We know we need large and small businesses to provide jobs.  Where is the balance between the benefits to corporations from large tax cuts and the benefits to the working people who are paying taxes and making up for those tax cuts? This bill does not provide that balance.

Sincerely,
Kathy Hay
Waukon