Tuesday, October 13, 2009
Wynning Proposition
| I have never been a fan of Steve Wynn, CEO of Wynn Resorts Las Vegas, but during a recent interview he hit the nail on the head in describing the incorrect focus of the government in regards to actually 'stimulating' the economy: "I think that the priorities of the administration should have been more directly focused on job creation. From the day of the inauguration forward, the priority should have been job creation. And the most powerful weapon and the tool that the government has for that is its tax policy. If the government had used its power to restrain its tax collection they would have given everybody who runs small businesses, large businesses, a chance to hire more people and that could have been done an entirely different way. With eight or $900 billion we could have created four or five million jobs, which would have made a big difference." "I'm saying that the source of government revenue, the source of well-being in this country is employment. That allows companies to pay taxes, employees to pay taxes. That's the source here and it's gotten out of focus." "Government has never increased the standard of living of one single human being in civilization's history. For some reason that simple truth has evaded everybody. The only thing that creates an increased standard of living is giving someone a job, the demand for their labor -- whether it's you and I, Chris, or anybody else. The people that are paying the price for this juggernaut of federal spending are the middle class and the working class of America." "And soaring rhetoric and great speeches with or without a teleprompter aren't going to change the truth, and the truth is: The biggest enemy, the biggest obstacle that working middle-class America has is government spending." How true will that last quote ring in the near future. With unemployment continuing to rise, revenue continuing to fall and the government continuing to spend, print and borrow at a record pace, there will be only 1 way out. A tax increase for each and every American. Can the middle class afford a tax increase in current conditions? I don't think so. How strange that in these economic times a man who employs 20,000 people in a state with the second worst unemployment rate, and who self-insures 150,000 employees family members, is the only one that seems to get it. But of course when 'saving' jobs is your priority, you probably didn't get it fromthe start. |
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