Politics

Trump’s Cabinet Nominees Have More Money Than One-Third of Americans Combined

Donald Trump Presidential cabinet nominees have a combined wealth of $14 billion.

Vic Bishop, Staff
Waking Times Media

Donald Trump has plans to fill his presidential cabinet with some very wealthy people – wealthy to the tune of $14 billion in combined capital. Is such an affluent cabinet capable of understanding the needs of American households?

The combined wealth of individuals who have been nominated by Trump for cabinet positions amounts to a staggering $14 billion, reports NBC News. Compared to President George W. Bush’s White House cabinet, Trump’s prospective cabinet members are 30 times richer.

To put this in perspective, qz.com estimated that the prospective cabinet’s collective wealth exceeds that of the combined 43 million of the least wealthy Americans, or one third of U.S. households. This estimate was based on the 2013 Survey of Consumer Finances and was adjusted for inflation and growth in American households.

Many believe that with such a growing income disparity between U.S. government and the public, government officials and politicians are unlikely to share the priorities of the American public. Recent Princeton research published by the American Political Science Association stated:

Multivariate analysis indicates that economic elites and organized groups representing business interests have substantial independent impacts on U.S. government policy, while average citizens and mass-based interest groups have little or no independent influence. (Source)

Below are four of the wealthiest of Trump’s Presidential cabinet nominees. Do you think these people and other millionaires in government share the average American experience?

$5.3 billion – Todd Ricketts – Deputy Secretary of Commerce – Ricketts is the co-owner of the Chicago Cubs. Also, his father founded the Ameritrade brokerage service.

$5.1 billion – Betsy DeVos – Secretary of Education – DeVox has family ties to multi-level-marketing company called Quixtar, originally Amway, and American private military company Blackwater, also known as ACADEMI (which is best known for its involvement in the Iraq war).

$2.9 billion- Wilbur Ross – Secretary of Commerce – Ross is known for bailing out and restricting companies across many industries, including steel, coal and telecommunications.

$1.16 billion – Linda McMahon – Head of Small Business Administration – McMahon is the co-founder and major stakeholder of the company World Wrestling Entertainment (WWE).

About the Author

Vic Bishop is a staff writer for WakingTimes.com and OffgridOutpost.com Survival Tips blog. He is an observer of people, animals, nature, and he loves to ponder the connection and relationship between them all. He is a believer in always striving to becoming self-sufficient and free from the matrix.

Sources:

Wealth data and estimates by the Washington Post, Forbes, The Guardian, and OpenSecrets.org. http://www.nbcnews.com/business/economy/trump-s-cabinet-picks-have-combined-wealth-11b-how-did-n692681

http://qz.com/862412/trumps-16-cabinet-level-picks-have-more-money-than-a-third-of-american-households-combined/

http://www.cbsnews.com/news/why-is-congress-a-millionaires-club/

Image credit: http://qz.com/841441/all-of-trumps-cabinet-nominations-and-appointments/


This article (Trump’s Cabinet Nominees Have More Money Than One-Third of Americans Combined) was originally created and published by Waking Times Media  and is published here under a Creative Commons license with attribution to Vic Bishop and WakingTimesMedia.com. It may be re-posted freely with proper attribution, author bio, and this copyright statement.

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