Trump's Cabinet Is Super Rich. Is That a Problem?
President-elect Donald Trump's cabinet selections so far have a combined wealth that is greater than one-third of U.S. households. Should Americans be concerned?
Appointing multiple billionaires to his cabinet should not be in and of itself a concern, according to three Christian economists who spoke with The Christian Post.
Recently, Trump has been criticized for nominating many billionaires and Wall Street veterans to his cabinet, with some pejoratively labeling it a "cabinet of billionaires."
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"Trump's cabinet, which is not yet fully filled, is already said to be worth a combined $14bn – the richest White House top table ever assembled. His team – if all are confirmed by the Senate – will be worth 50 times the $250m combined wealth of George W Bush's first cabinet," reported The Guardian.
"... a New York Times editorial [questioned] the Trump administration's seeming lack of interest in vetting nominees for potential conflicts of interest. Top Democrats and leading ethics and constitutional law experts have also raised concerns about Trump's selection process."
However, Jay Richards, assistant research professor with The Busch School of Business and Economics at Catholic University of America, told The Christian Post that he considered Trump's picks for his cabinet to be "first-rate."
"It's no exaggeration to say that his cabinet and other top picks are as conservative as any Republican administration in memory," explained Richards. "Those who worried that Trump would revert to 'New York liberalism' after the election should be encouraged."
Regarding concerns over the wealthy backgrounds of the cabinet picks, Richards replied that it is "not a serious argument" and "doesn't even make sense."
"Does anyone really think to grow jobs in, say, the energy sector, the president-elect must appoint someone to his cabinet who works at a gas station? Trump pledged to appoint people who could get things done rather than merely talk," continued Richards.
"He might be right or wrong about that, but he is simply making good on his campaign pledges. Critics seem to forget that Mr. Trump is himself a billionaire, and yet he nevertheless won votes in Rust Belt states that practically every pundit assumed would go to Hillary Clinton."
Gordon Boronow, Assistant Professor of Business at Nyack College in New York, also told CP that he thought Trump's cabinet selections "have been good."
"I like that he is going outside the beltway, and bringing in people who have been critical of the particular agencies which they will now head," said Boronow.
Boronow did feel some concern over Trump's nominating Steven Mnuchin to head the Treasury Department, given some of his past business endeavors.
"I think Mr. Mnuchin has some explaining to do with regard to the Indy Mac transaction, and why that should not be considered crony capitalist abuse," added Boronow, referring to a subprime mortgage lender that Mnuchin bought and sold while a government agency covered its losses.
"I wish Trump had selected someone else for Treasury, but these matters will be aired and resolved in the confirmation process."
Boronow also told CP that he felt being successful in life should not disqualify a person from holding a position in a presidential cabinet.
"There might be a concern that very wealthy people can become out of touch with real world issues, but I don't see that as a problem in these instances," said Boronow.
"We need to keep a free and vigilant press to monitor the actions of all aspects of government, to protect the public's interest. We have been missing that ingredient of good government for the last eight years, as the press chose to become the government's PR department."
Jerry Bowyer, senior fellow in Business Economics at The Center for Cultural Leadership and president of Bowyer Research, told CP that the debate over whether it is a good thing to have several billionaires in a presidential cabinet is based in "class warfare rhetoric" that is "deeply troubling from a Biblical point of view."
"According to the Bible we are not to judge people's character by their class. No one should be placed on the ethical suspects list just because they are wealthy. Of course, that applies to the poor as well, but our modern politics has been more about playing to the crowd against the wealthy," said Bowyer.
"For that reason I am pleased that Mr. Trump has resisted the political spirit of the age by unashamedly nominating accomplished people and not worrying about whether envy or class animosity will be stirred up against them."
Bowyer also told CP that of the current roster of nominees for cabinet positions he had worked alongside Wilbur Ross, the nominee to head the Commerce Department, and found him "extremely capable."
"I was working as a privatization czar for Allegheny County, overseeing an airport privatization effort. Ross was one of the bidders on the project and we approved his bid," continued Bowyer.
"I would say that probably his best and highest use in this administration would be working in infrastructure privatization. Our transportation system and other infrastructure could use billions in investment, and I'd rather see private expertise and capital tapped for that purpose than run our infrastructure upgrade through our current dysfunctional system."
