Rep. Zach Nunn, R-Iowa, joined 'Fox & Friends First' to discuss President Trump's upcoming trip to Iowa to discuss the economy and energy, the impact of rising health insurance premiums and a possible partial government shutdown.

We live in a nation of unprecedented wealth and income inequality — where a handful of billionaires are getting much richer while the working class falls further and further behind.

Just since Election Day, while millions of Americans are struggling to afford housing, food, electricity and healthcare, the three wealthiest people in America have become over $625 billion richer and are now collectively worth $1.3 trillion. Meanwhile, as a result of a rigged political system, billionaires now pay a lower effective tax rate than the average truck driver, teacher or nurse.

At the same time, Wall Street has never been more consolidated and powerful than it is today. Incredibly, just four Wall Street firms now manage roughly $38 trillion in assets — more than 120% of our annual GDP — and are major shareholders in over 95% of S&P 500 companies. Further, just five massive financial institutions led by JPMorgan Chase, Bank of America, American Express, Citigroup and Capitol One now account for nearly 70% of all credit card transactions and just two giant credit card networks (Visa and Mastercard) process well over 80% of credit card transactions.  

With that enormous concentration of ownership, Wall Street has incredible impact over the prices, interest rates and fees we pay and the well-being of workers.

LAWMAKER SAYS TRUMP COULD KEEP HOUSING-COST PLEDGE BY BACKING DEMOCRATIC BILL IN RARE CALL FOR COMMON GROUND

Vermont Sen. Bernie Sanders and President Donald Trump found common ground on capping credit card rates. (Valerie Plesch/Bloomberg via Getty Images; Kevin Dietsch/Getty Images )

Within that reality, President Donald Trump went to Davos, Switzerland, on Jan. 21, to speak about his so-called "affordability agenda." Really? Is there anyone left in America who does not understand that Trump’s concern about "affordability" is nothing more than a flailing attempt to shore up his rapidly declining poll........

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