A friend posted concern that most of Trump’s nominees are very wealthy people from banking and Wall Street. Trump argues these are the people who understand the system and know how to fix it. I don’t have a problem with that. A guy who runs a 300 acre corn and bean farm probably doesn’t have what it takes to rewrite and correct the US income tax code.
But I do question whether the Wall Street insider who has the knowledge will also have the desire. It smacks of putting the mouse in charge of protecting the cheese.
What bothers me so far about Trump’s picks is that they have shown almost no interest in the average person. For example, Trump’s nomination for treasury secretary, Steve Mnuchin, foreclosed on 36,000 homes during the recession and ended up earning a profit of $200 million of the backs of the people whose homes he had taken. Both he and Trump explain it away as just being good business. Neither would be my candidate for future sainthood.
However, there are compassionate billionaires in America. People who have built financial empires but played fair while not forgetting their debts to the common well-being of the nation. Warren Buffett may not be the perfect example but he is an example. Since he was a teenager he has never failed to pay and reveal his income taxes.
There are also armies of well-educated, experienced, professionals, who are not among the one-percent, to take up the task of reforming our economic system and creating easier and fairer tax laws. Why aren’t we turning to those individuals rather than the very people who bought the economy to its knees while adding millions and billions to their own portfolios?
I recently read an article about Trump working out a deal with Carrier to keep 1000 jobs here in Indiana and not moving them to Mexico. The line of the story that impressed me the most mentioned the pressure from Wall Street and banks placed on American manufacturers to maximize profits. One of the easiest ways to do that is to move to countries with lower wage rates. That tells me that the big banks and investment houses can’t be trusted with the working man’s best interest. If you spend part of your campaign condemning anything and anyone Goldman-Sachs, it sorta stinks when you then hire a bunch of people from Goldman-Sachs to be the nation’s cheese guards.
As a footnote, take a look at what’s happened to the value of Goldman-Sach’s stocks since Trump began to appoint former G-S employees to cabinet positions. As one newspaper put it, there’s been a “massive” rise in value.