He was pierced through for our transgressions.
He was crushed for our iniquities
Your translators use the translation of pierced, because the imagery makes you think of the NT's Jesus.. But the word מחלל can also mean fear/trembling and sick.
Anyways both of these translation are wrong. The
מ prefix means "from" not "for".
והוא מחלל
מפשענו - he was made sick from our sins
מדכא
מעונתינו - was crushed from our sins
(The two types of sins listed here refer to two types of intentional sins that don't stem from desire.)
What its saying is that the the nations are admitting to their sins that caused suffering to Israel.
He was cut off from the land of the living
The land of Israel, from where Israel was exiled.
Incidentally David used this nickname as well in 116:9
He was with a rich man in His death
You're reading that sentence wrongly. The second part goes back on the first word:
ויתן - את רשעים קברו
ואת עשיר במתיו
and he gave - [to the] wicked, his grave
____________- [to the] rich, with his deaths.
The same part of speech that is used in the first part is used in the second part. Without a verb before the direct object indicator (את) you need to go back to the previous verb and read it as though the verb is written again. You can do that in English too:
And he gave - his brother the radio
___________- and his sister the couch.
The Lord has cause the iniquity of us all to fall on Him.
"Fall on him" is a kind of weird expression to use here. I guess they mean the way an enemy "falls upon" a person. Other instances are Ex. 5:3, 2 Sam. 1:15, 1 Kings 2:25 etc. The obvious meaning being, "an encounter that's not going to end well for someone".
Anyway, its saying that it was G-d who decreed that the nations sin against Israel [through causing suffering to them].