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23 Jun 2017

Trump doesn't want poor person running the US economy

US President Donald Trump said he wouldn't want to give a Cabinet position related to economic policy to a poor person.

He said he loves all people but that rich people are better at handling money and would do better to steer the US economy.

Trump's Cabinet is filled with a number of billionaires, making it one of the wealthiest in US history.

In context

Trump's responds to criticism over billionaire cabinet
Trump picks billionaires for key economic positions


Trump picks billionaires for key economic positions

Trump's statement came in response to criticism over his cabinet picks, many of whom have complex financial holdings raising questions of potential conflict of interest.

Trump has named billionaires Wilbur Ross and Todd Ricketts as commerce secretary and deputy commerce secretary, respectively.

He appointed billionaire Betsy Davos as his education secretary and former Goldman Sachs executive Steven Mnuchin as treasury secretary.

Trump says 'makes sense' to have rich people run economy

"I love all people, rich or poor. But in those particular positions, I just don't want a poor person," Trump said. "Does that make sense? Does that make sense? If you insist, I'll do it. But I like it better this way, right?"

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Trump previously criticized Goldman Sachs, then picked its president

Trump has selected former Goldman Sachs President Gary Cohn as chief economic advisor.

"When you get the president of Goldman Sachs, smart," Trump said. "Having him represent us, he went from massive paydays to peanuts."

"Cohn walked away from Goldman with roughly $285 million," according to CNN.

During his election campaign, Trump had frequently slammed Goldman Sachs for having too much influence in politics.

Democratic senator hits out at Trump over 'rich people' logic

"Being rich doesn't mean that you have wisdom. It doesn't mean that you have compassion. It doesn't mean you understand the lives that most Americans are living," said Democratic Senator Ed Markey.

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