Skip to comments.Steve Wynn: China is Stable, America is Not!
Posted on 06/27/2010 2:00:30 PM PDT by ezfindit
In a recent interview, Steve Wynn, the successful American casino resort and real-estate developer, made some shocking observations about the unstable and aggressively anti-business atmosphere in America perpetuated by our own government. In his interview with CNBC, Steve expressed the nightmarish situation that US companies face due to the arbitrary, punitive, and misguided manner in which legislators in Washington, DC continue to endlessly tax and regulate businesses in America, while our economy continues to suffer and deteriorate.
In a criticism clearly directed at President Obama and the Democrats, Mr. Wynn focused on the key reason why America is now less stable and less business-friendly than even China: our own incompetent government in Washington! He explained how China now offers more political stability, more opportunities, and much more business-friendly environment than the United States: "Macau has been steady. The shocking, unexpected government is the one in Washington." (see video and actual transcript on the site)
(Excerpt) Read more at conservativedatingsite.com ...
What can you expect of a government that is hell bent on destroying the country?
The Obamanination administration and the DemonRATs are more communist than the Communists!
America is entering into a “lost decade”. Barry O and his insane clown posse are killing economic growth for the foreseeable future. Personally I will be investing overseas as much as possible.
Never fear, China’s a house of cards too. America has no monopoly on the inept.
When I make this same point in posts, I am castigated by some Freepers. Of course, I am not a major CEO with direct knowledge of both regulatory environments. I do not have any measure of economic freedom to make an objective comparison. However, I look at the growth in both countries. I see the US languishing in economic malaise while China continues to grow. Of course, China has many problems with property right protections. China does not seem to be at war with capitalists. Although I am not ingrained with Chinese politics, I have never heard of the Chinese equivalent of the Lily Ledbetter law, the Davis Bacon Act, card check, unfunded liabilities for Medicare, Social Security, and federal pensions, the Equal Pay Act, the new Consumer Products Safety Act (with incredible levels of lead testing requirements), Fair Labor Relations Act, third party lawsuits by environmentalists, outrageous punitive damages, ... I realize that China has a labor arbitrage advantage. However, we should be lowering government imposed employment and production costs, streamlining regulations, and simplifying taxation. We are headed in the opposite direction.
“Lily Ledbetter law, the Davis Bacon Act, card check, unfunded liabilities for Medicare, Social Security, and federal pensions, the Equal Pay Act, the new Consumer Products Safety Act (with incredible levels of lead testing requirements), Fair Labor Relations Act, third party lawsuits by environmentalists, outrageous punitive damages, ...”
And AA, companies being forced to pay race pimps money to avoid being called racists, stuff like that too.
I don’t know who has castigated you in the past, but I’ll sing your praises!
Your post regarding the business climate in China vis-a-vis the United States is spot on. You get an A+ from me!
While the rest of the world runs away from socialism, Barry and his merry bunch of democrats are rushing head first to embrace it. Utter insanity.
I LOVE THIS GUY..!!!!!
Did you see the INTENSITY he finished with?
“When I make this same point in posts, I am castigated by some Freepers.”
There are some folks who get their kicks from being argumentative. They’re best ignored.
Part of why FR is great because it is such a free-for-all. The best ideas are fire tested in the crucible.
Your basic theory is sound in my view. While we might not like it, there are other places in the world that are more friendly to business than the U.S.
Judge Feldman in New Orleans agreed with Wynn when he ruled that the Obama regime’s conduct is “arbitrary and capricious”.
[See Hornbeck Offshore Services LLC v. Salazar, 2:10-cv-01663, U.S. District Court, Eastern District of Louisiana (New Orleans)]
bump for later
I spend a lot of time with small businessmen and thier comments are they do not know what will be said or done tomorrow. And by tomorrow, I mean the 28th of June. We do not know what these creeps will do.
Have to agree. Holding China as a shining example is total folly.
In another 30 years or so reigning Our Great Leader or Great Committee will institute an American Great Leap Forward in an effort to forcibly re-industrialize America.
” When I make this same point in posts, I am castigated by some Freepers.”
Yes, you have been, by a bunch of “wannabe” mavens. I have read many of your posts, and with a few minor exceptions, you shine in every one of them.
I have done business all over the UK, and Asia, so I can tell you that Steve Wynn is telling the gospel truth. I was living and doing business in Kuala Lumpur in 2002, when I read in the New Straights Times that Steve was the first American to be granted a gaming lic. in Macau. I knew he would shine there. Now he will relocate there too. (The 22% tax cap doesn’t hurt, either)
America is committing financial suicide right before my eyes. At age 56, I don’t even know my own country anymore.