President’s plan to make the rich richer

After years of purchasing political influence, our new president has enabled the captains of industry to completely take over [“Bullish on taming Wall Street,” News, March 21]. Capitalism has become corporatism — a government of, by and for the benefit of large corporations and the wealthy.

advertisement | advertise on newsday

For decades, they increased inequality by holding down wages while profits rose. Now they’ll substantially lower their own and corporate taxes while giving the rest of us a pittance.

To compensate, they’ll reduce spending on social programs. Next, they’ll undo regulations that protect us from their predatory practices, especially in the areas of health care, the environment and finance. Then they’ll try to reduce the rights of women, the LGBT community and minority voters. Finally, because there is so much profit to be made, they’ll increase the size and budget of the military, even though we already spend more than other countries.

These millionaires and billionaires have no empathy or concern for their fellow citizens. They moved jobs overseas, decimated unions, replaced court trials with arbitration, curtailed individual but not corporate bankruptcy, and created a financial crisis. Their actions are utterly heartless.

Linda Imhauser, Whitestone