During a campaign rally in Iowa on Wednesday night, President Trump made a stunning admission about not hiring poor people.
Trump traveled to Iowa to do a “victory lap” rally celebrating Republicans’ narrow special election victory in a deep-red Congressional district in Georgia. However, Trump as president has very different rhetoric about Goldman Sachs than he did while on the campaign trail.
During his speech to voters in the pivotal first-in-the-nation caucus state, Trump touted his hires of wealthy Goldman Sachs executives, saying he didn’t want poor people in jobs responsible for the U.S. economy. The remarks are particularly crass given Cedar Rapids, Iowa’s 2011-2015 per capita income coming in at less than $30,000 per year, according to the U.S. Census Bureau.
“That’s the kind of thinking we want, really,” Trump said, after referring to his decision to appoint billionaire Wilbur Ross as Secretary of Commerce and former Goldman Sachs president Gary Cohn as chief economic advisor. “And you get the president, this is the president of Goldman Sachs. Smart… He went from massive paydays to peanuts.”
“I love all people. Rich or poor. But in those particular positions, I just don’t want a poor person,” Trump added.
Here's the video.
Trump on wealthy cabinet picks: "In those particular positions, I just don't want a poor person." https://t.co/AwPPgYPkUZ
— Kyle Griffin (@kylegriffin1) June 22, 2017
President Trump’s admission that he doesn’t want poor people in economic advisory roles and praising of “smart” Goldman Sachs executives is a complete 180 from his populist campaign rhetoric. In one of his final ads of the 2016 presidential campaign, Trump is heard denouncing the political establishment while video plays of Goldman Sachs CEO Lloyd Blankfein speaking at the Clinton Global Initiative.
“It is a global power structure that is responsible for the economic decisions that have robbed our working class, stripped our country of its wealth, and put that money into the pockets of a handful of large corporations and political entities,” Trump said in the ad.
Aside from Gary Cohn, four notable Goldman Sachs executives that have joined the Trump administration include Treasury Secretary Steven Mnuchin, who was a partner at the firm, as well as former Goldman Sachs managing director James Donovan as Deputy Treasury Secretary. Dina Powell, who was Goldman’s former head of impact investing, is a senior White House counsel for economic initiatives. Chief White House strategist Steve Bannon is also a former Goldman Sachs executive.
Jamie Green is a contributor to the Resistance Report covering the Trump administration, and lives in Ann Arbor, Michigan.