Last Monday, during his company’s quarterly earnings conference call, Steve Wynn, CEO of Wynn Resorts, said what a lot of people in the business community have been thinking for the last two-plus years.
“I’m afraid to do anything in the current political environment in the United States,” he said. “Those of us who have business opportunities and the capital to do it are going to sit in fear of the president.”
He didn’t stop there. “I’m saying it bluntly,” he continued. “This administration is the greatest wet blanket to business and progress and job creation in my lifetime.”
And with that, Steve Wynn became the voice of the business community’s frustration under Obama’s anti-capitalist regime.
Yesterday Home Depot founder Bernie Marcus echoed Wynn, telling IBD that the government is the biggest impediment to job growth in the country.
"Having built a small business into a big one," said Marcus "I can tell you that today the impediments that the government imposes are impossible to deal with. Home Depot would never have succeeded if we'd tried to start it today. Every day you see rules and regulations from a group of Washington bureaucrats who know nothing about running a business. And I mean every day. It's become stifling."
As someone who runs several small businesses, I’m well aware of the scorched-earth policy that my fellow Chicagoan has adopted. His dogmatic embrace of over-regulation, over-taxation and wealth redistribution has not only made me rethink the way I run my companies, it’s proved beyond the shadow of a doubt that he’s a socialist prosperity killer of historic proportions.
But when Steve Wynn, the sitting CEO of one of the most successful corporations in the country, makes statements like these, it brings the discussion to a whole new level. It tells me that when it comes to job creation—the single most important driver of economic growth—there’s an even bigger disconnect between the business community and Washington than even the most optimistic among us may have imagined.
And Steve Wynn is a guy who knows a thing or two about creating jobs. It’s estimated that, either directly or indirectly, Wynn is responsible for the creation of 150,000 jobs in Las Vegas alone. Think about how many families and children and lives those jobs support. Even if you’re not a fan of gambling, you have to at least give the man credit for doing his part to grow the economy.
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance: William's Edge Webinar for January 30th, 2014 | John Ransom
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for January 28th 2014 | John Ransom
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for January 26th, 2014 | John Ransom