Political: Heather Cox Richardson, November 25, 2024 Part 2

During the campaign, Trump promised to fight for ordinary Americans, but many of Trump’s picks to fill offices in his administration are notable for their extreme wealth. His pick for treasury secretary is billionaire Scott Bessent, a hedge fund executive who invested money for philanthropist George Soros for more than ten years. To head the Commerce Department, Trump has tapped billionaire Howard Lutnick, the chief executive officer of financial giant Cantor Fitzgerald.

Trump’s choice for education secretary, Linda McMahon, and his choice for Interior Secretary, North Dakota governor Doug Burgum, are both billionaires. And then there are the two men Trump tapped for his Department of Government Efficiency. Former pharmaceutical executive Vivek Ramaswamy is worth around a billion dollars, but Elon Musk is usually at the top of the list of the richest people in the world. He’s worth about $332.6 billion. Trump is expected to tap donor Kelly Loeffler, who is married to billionaire Jeff Sprecher, the chair of the New York Stock Exchange, as Secretary of Agriculture.

Laura Mannweiler of U.S. News and World Report today estimated the worth of Trump’s current roster of appointees to be at least $344.4 billion, more than the gross domestic product of 169 countries. That number does not include Bessent, whose net worth is hard to find. In comparison, Mannweiler notes, the total net worth of the officials in Biden’s Cabinet was about $118 million.

Economist Robert Reich noted yesterday that the wealth of America’s 815 billionaires grew by nearly $280 billion after Trump’s reelection, and the president-elect is promising to extend the 2017 tax cuts that are set to expire in 2025. Now, after all their complaints about the budget deficits under Biden as he invested in the country, Republicans are, according to Andrew Duehren of the New York Times, considering rejiggering the government’s accounting so that extending the tax cuts, which will create about $4 trillion in deficits, shows up as not costing anything.

Deregulation, too, is on the agenda. It’s a cause close to the heart of Elon Musk, who frequently complains that unnecessary regulations are making it impossible for visionary entrepreneurs to develop the technological sector as quickly and efficiently as they could otherwise.
In the Wall Street Journal yesterday, Susan Pulliam, Emily Glazer, and Becky Peterson noted that although Musk says his goal is to “protect life on Earth,” his companies “show a pattern of breaking environmental rules again and again.” The authors report that Tesla’s facility in Fremont, California, has received “more warnings for violations of air pollution rules over the past five years than almost any other company’s plant in California,” 112 of them. Federal regulators recently fined SpaceX for dumping about 262,000 gallons of wastewater into protected wetlands in Texas. Tesla, too, has dumped contaminated water into public sewer systems.

One staffer for environmental compliance told the Environmental Protection Agency that ““Tesla repeatedly asked me to lie to the government so that they could operate without paying for proper environmental controls.”

People who have worked with Musk “for years” told Pulliam, Glazer, and Peterson that they expect Musk will try to cut environmental regulations, especially the ones that affect his companies. After Trump announced that he was creating DOGE and putting Musk in charge of it, Musk posted: “We finally have a mandate to delete the mountain of choking regulations that do not serve the greater good.”
Musk’s companies have brought in at least $15.4 billion in federal contracts over the past decade, and his companies have been targeted in at least 20 government investigations recently. Eric Lipton, David A. Fahrenthold, Aaron Krolik, and Kristen Grind of the New York Times note that Trump’s victory and his appointment of Musk to an oversight role in the government “essentially give the world’s richest man and a major government contractor the power to regulate the regulators who hold sway over his companies, amounting to a potentially enormous conflict of interest.”

Today, Sara Murray, Kristen Holmes, and Kate Sullivan of CNN reported that Trump’s lawyers have conducted an investigation into whether top Trump advisor Boris Epshteyn has been selling access to Trump. Payments for his promotion of candidates for administration positions or access to administration officials were as much as $100,000 a month. The lawyers recommended that the Trump team should jettison Epshteyn, but it has apparently decided not to.

“I am honored to work for President Trump and with his team,” Epshteyn said in a statement to CNN. “These fake claims are false and defamatory and will not distract us from Making America Great Again.”

Today, special prosecutor Jack Smith moved to drop both federal cases against Trump: the federal election case for his attempt to overturn the results of the 2020 presidential election, and the case concerning Trump’s retention of highly classified documents after he left office in 2021. Trump had said he would break the usual norms around special counsels when he returns to office—Biden retained the special counsel investigating his son, Hunter—and fire Smith.

But Smith pointed to the position of the Department of Justice that a sitting president cannot be prosecuted as a reason for the cases’ dismissal. “This outcome is not based on the merits or strength of the case against the defendant,” he wrote. “The Government’s position on the merits of the defendant’s prosecution has not changed.” Smith left open the possibility that the charges could be brought again in the future after Trump leaves office.

Trump’s approach to the cases was to delay and delay and delay in hopes voters would return him to the White House, and it appears his strategy worked. As democracy lawyer Marc Elias wrote: “Justice delayed was justice denied.”
Jean

 

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Here's why Substack's scam worked so well

Substack is not a safe place to build your community — The CMJ Group by Carrie Melissa Jones

Substack Is a Scam in the Same Way That All Media Is

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