Donald Trump says he doesn't want a 'poor person' handling economy
Donald Trump has said he doesn’t want “a poor person” to hold economic roles in his administration as he used an Iowa rally to defend his decision to appoint the wealthy to his cabinet.
The US president told a crowd on Wednesday night: “Somebody said why did you appoint a rich person to be in charge of the economy? No it’s true. And Wilbur’s [commerce secretary Wilbur Ross] a very rich person in charge of commerce. I said: ‘Because that’s the kind of thinking we want.’”
The president explained that Ross and his economic adviser Gary Cohn “had to give up a lot to take these jobs” and that Cohn in particular, a former president of Goldman Sachs, “went from massive pay days to peanuts”.
Trump added: “And I love all people, rich or poor, but in those particular positions I just don’t want a poor person. Does that make sense?”Among the "poor" people who have held Ross' job are Kellogg's CEO Carlos Gutierrez; oil executives Donald Ross and Robert Mosbacher; steel company owners William Verity and Robert Lamont; Scovill CEO Malcolm Baldridge; South Carolina mill owner Fred Dent; Accounting Hall of Fame Member and Watergate felon Maurice Stans; Lehman Bros and Blackstone Group chairman Peter Peterson; Hudson Motors founder Roy Chapin; Watergate hero Elliott Richardson; and President Herbert Hoover.