Multimillionaire Steve Mnuchin Claims Unemployed Americans Are ‘Overpaid’

Treasury Secretary Steven Mnuchin, who is a multimillionaire, complained that Americans receiving unemployment benefits during the ongoing recession are “overpaid.”

“We want to fix the issue where in some cases people are overpaid,” Mnuchin told ABC News‘ This Week on August 2. Mnuchin made the comment while complaining about the  $600-a-week unemployment benefit that many Americans are currently receiving.

Despite the pressures of the economic retraction caused by the rampant spread of COVID-19, several Republicans have complained without evidence that the meager benefit is enticing people to stay on unemployment.

Steven Mnuchin being sworn in as Treasury Secretary
Steven Mnuchin being sworn in as Treasury Secretary

Mnuchin’s objections are even more striking when put in the context of his own massive wealth.

According to Forbes, Mnuchin has a net worth of at least $400 million. Mnuchin comes from a background in high finance at Goldman Sachs and later used his company to produce several movies, including American Sniper, Avatar, and Suicide Squad.

Mnuchin is one of several multi-millionaires that have been long-term fixtures in Donald Trump’s Cabinet.

His wife, Louise Linton, was involved in a controversy early in the Trump administration in 2017 when she used her Instagram account to attack a mother of three for having less money than she and Mnuchin.

“Have you given more to the economy than me and my husband? Either as an individual earner in taxes OR in self sacrifice to your country?” Linton wrote.

Mnuchin also came under fire for a trip that year in which he and Linton flew at government expense to Fort Knox on a schedule which conveniently allowed them to view a solar eclipse.


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