The wife of Treasury Secretary Steven Mnuchin deserved to get eviscerated for bragging about her fabulous lifestyle ... according to her.

You'll recall Louise Linton last month posted this photo on Instagram and littered it with hashtags of a bunch of high-end merch -- "#rolandmouret pants #tomford sunnies #hermesscarf #valentinorockstudheels #valentino" ... essentially telling people who don't dress like her are pathetic losers.

Louise's now taking it all back -- from the initial post to how she handled the backlash from furious taxpayers. She told Washington Life, "I want to say I concede completely to the comments of my critics. My post itself and the following response were indefensible. Period. I don't have any excuses, nor do I feel any self-pity for the backlash I experienced."

Louise went on to say, "I sincerely take ownership of my mistake. It's clear that I was the one who was truly out of touch and my response was reactionary and condescending."