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Last Post 21 Dec 2016 02:30 PM by  Lloyd Grubb
Billionaires should run the country best
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Lloyd Grubb
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21 Dec 2016 02:18 PM
    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."

    "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.

    What do you think about this governing experiment?
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    Lloyd Grubb
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    21 Dec 2016 02:30 PM
    This should be the most pre-successfull cabinet ever assembled

    Here's a look at how some of the wealthiest appointees so far stack up, according to data and estimates by the Washington Post, Forbes, The Guardian, and OpenSecrets.org:

    $5.3 billion - Todd Ricketts - Deputy Secretary of Commerce
    Co-owner of Chicago Cubs. Billionaire father founded the Ameritrade discount brokerage services.

    $5.1 billion - Betsy DeVos - Secretary of Education
    Daughter-in-law of co-founder of Amway, a multi-level-marketing company later renamed "Quixtar." Brother founded Blackwater. Fierce faith-based proponent of school voucher programs.

    $2.9 billion - Wilbur Ross - Secretary of Commerce
    Dubbed the "king of bankruptcy." Restructured failed companies in steel, coal, and telecommunications using leveraged buyouts.

    $1.16 billion (with husband) - Linda McMahon, head of Small Business Administration
    Co-founder of the pro-wrestling company World Wrestling Entertainment (WWE), which she owns with her husband, Vince McMahon. His net worth is estimated to be $1.16 billion, according to Forbes. The magazine reported that Linda McMahon owns $84 million in the company's stock. She previously attempted to enter politics when she ran for the U.S. Senate in Connecticut in 2010 and 2012, pouring close to $100 million into the campaigns.

    $46 million - Steven Mnuchin - Secretary of the Treasury
    Worked 17 years at Goldman Sachs. Started his own hedge fund and invested in at least two Donald Trump projects. Turned around failed home lender IndyMac and renamed it OneWest. Company was involved in string of lawsuits over questionable foreclosure practices. In one controversy the bank foreclosed on a senior who accidentally underpaid by 27 cents.

    $26 million - Ben Carson - Secretary of Housing and Urban Development
    A former Republican presidential candidate and neurosurgeon with revenue from best-selling books, paid speeches and board positions. During his campaign said social safety net and welfare programs create dependency among poor.

    $16.9 million - Elaine Chao - Transportation Secretary
    Former member of both Bush administrations. Daughter of a shipping magnate. Married to Senate Majority Leader Mitch McConnell.

    $13.6 million - Tom Price - Secretary of Health and Human Services
    An orthopedic surgeon with medical industry companies in his stock portfolio. He wants to repeal Obamacare and replace it with tax credits and health savings accounts.

    $15.8 million - Jeff Sessions - Attorney General
    Republican Senator from Alabama. Noted advocate for reducing legal immigration. Supported Bush tax cuts, opposed 2009 stimulus and Obamacare. Top contributors are in legal, health, real estate and utilities, especially a gas and electric company and a coal-mining firm.


    Trump's  cabinet picks list from NBC News
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