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Steve Wynn Rants About Obama, Claims President Plans on ‘Redistribution’

Posted: July 20, 2011

Casino magnate Steve Wynn has gone on a strange rant decrying President Barack Obama’s “weird political philosophies,” complaining of a fear of “redistribution” among the uber-wealthy of America- or, as Republicans call them, job-creators.

Wynn- who is among the group of Americans enjoying the lowest effective tax rates at their income bracket since Eisenhower was in office- says that despite the fact that the recession is essentially over for the upper classes, the super rich just don’t feel like making jobs. Wynn whined:

“Everybody complains about how much money is on the side in America. You bet.

And until we change the tempo and the conversation from Washington, it’s not going to change. And those of us who have business opportunities and the capital to do it are going to sit in fear of the president.”

Fear of what, you might ask? Socialism, of course. Wynn huffs:

“And a lot of people don’t want to say that. They’ll say, ‘oh God, don’t be attacking Obama.’ Well, this is Obama’s deal, and it’s Obama that’s responsible for this fear in America… The guy keeps making speeches about redistribution, and maybe we ought to do something to businesses that don’t invest or holding too much money. We haven’t heard that kind of talk except from pure socialists.”

Wynn then inexplicably complains:

Everybody’s afraid of the government, and there’s no need to soft peddling it, it’s the truth. It is the truth. And that’s true of Democratic businessman and Republican businessman, and I am a Democratic businessman and I support Harry Reid. I support Democrats and Republicans… And I’m telling you that the business community in this company is frightened to death of the weird political philosophy of the president of the United States. And until he’s gone, everybody’s going to be sitting on their thumbs.

Of course, for those of you who are not in the top 1% in the US, Wynn’s rant may seem like a last desperate plea to insist the tax burden be shoved off on the middle and lower classes even as the uber-wealthy rake in record profits- but fail to create the jobs promised by the lower rates of taxation for the very rich. One astute CNN commenter points out:

According to Forbes, last year Steve Wynn was worth $2.3 billion, up from $1.5 billion the previous year. What on earth does he want from Obama? A taxpayer funded bailout? Besides, his business is gambling; not exactly an R-and-D driven enterprise. He sounds like a bit of a false authority to me.

So, are you with Steve Wynn or Mike in Minneapolis here? And has the President ever said anything about “redistribution” or is that shorthand for “paying your fair share?”



Comments


78 Archived Responses to “ Steve Wynn Rants About Obama, Claims President Plans on ‘Redistribution’ ”

  1. Anonymous
    Jul 20, 2011

    Yes, and he keeps building and opening new hotels hiring 1000's of people for each one. Probably much more effective use of tax money that the Feds and Obama would think of.

  2. Wynn had a 50% increase in his net worth during one of the worst recessions ever…most Americans didn't fare as well. GMAFB!

  3. Cindy Schumacher
    Jul 20, 2011

    Yea, much better for them to be sitting at home getting a check for doing nothing.

  4. Obama, divider in chief.

  5. Ed Chapman
    Jul 20, 2011

    Cryboy just spent $18 million on 4 vases, and he's whining.He's right here in town….he can come over and KMA….what a total jerk. The REAL problem is that there are a lot of business execs who cannot stand the idea of an African-American in the White House. Get used to it whiner boy… Get a life.

  6. I'm a middle class republican, I just want the rich to pay their share, my word, they don't want to pay ANY. middle class is going to be a dinosaur. soon will be only two classes rich and working poor.

  7. Steve Wynn is just demonstrating he's one of the smartest men in the buiissness. I am totally impressed that Steve.
    knows what's going on & "ain't going to take it no more". I have heard Socialist rumours for years about Obama.
    I have to admit I need a few more examples (of classic redistribution) of exactly what Steve sees to be totally enlightened, but I believe he sees (it). I underrstand that the NWO (Illuminatti) are planning the largest Socialist move.
    there could possibbly be (scope of which makes the USSR inconsequential) I understand the methods they (Illuminatti).
    get people to believe they are going one way when they are going another (Heglian techniqies) Note I need a spelling check on this word Heglian (its a technique the NWO uses to shock test society to see what it will accept, it tells them how far they can go before people snap. To be continued……

  8. I think what he really fears is a re-redistribution. Feudalism makes it triumphant comeback! Hurrah for our masters! (Not a Jen post, her husbands).

  9. Anonymous
    Jul 20, 2011

    Unlike the socialist parasites who lust after the wealth of the others, Wynn actually PRODUCES something that people want, along with thousands of jobs in the process. Want more money? Then get off your dead rear ends and EARN it. But if you have no skills, no education, no drive, no ambition, and no work ethic, do not expect those of us who do strive to better ourselves to pay for your lifestyle. News flash – NOBODY, including Steve Wynn, owes you squat.

  10. Boo Hoo! Cry me a river. Paying your fair share really gets these Republicans fired up.

  11. Obama will go down in history as the worst President ever! He is a divisive, job killing, liar. His nonsense about "the rich must pay their fair share" is ridiculous – between federal & state taxes, the "rich" pay over 50% of their income in taxes! If the communists, I mean "democrats" keep raising the tax rates, the result will be that the so called "rich" will not work as much, won't start new jobs, and the unemployment rate, as a direct result of this mis-guided rhetoric, will continue to increase.

  12. I too believe our president is the problem. He doesn't have a problem with spending the taxpayers money on his and his wife's jet setting. If he had not become president they would be going through forclosure. They were upside down on their house in Chicago. We need either flat tax or a fair tax. No loop holes.

  13. Mark McCallister
    Jul 20, 2011

    H called it right, if you don't know about the redistibution of wealth from the mouth of Obama you and your so called astute cnn guy aren't paying attention, because a citizen speaks their mind and calls it like they see it, you libs go nuts that is what is wrong today, we can't handle the truth, freedom of speech is only ok if you agree with democrats if not watch out and by the way lets flush the US down the economiic sewer while were at it!

  14. Anonymous
    Jul 20, 2011

    P.S. – The "Inquisitor" is aptly named – the entire article is peppered with leftist envy of those who actually make the country work. Steve Wynn does more for more people than all of the government welfare social workers do combined. And he does it with his OWN money, not the taxpayers.

  15. Dave Pavlatos
    Jul 20, 2011

    MINE MINE MINE MINE……Typical.

  16. Get rid of the majority of taxes on everyone! It is why we had a revolutioary war against the king of england! Peole like obama do not work and suck up to tax money because they would be failures in any other legitimate profession!

  17. What pecentage is a "fair share"?

  18. Anonymous
    Jul 20, 2011

    "or, as Republicans call them, job-creators."

    Oh, I'm sorry. I didn't realize that it was actually the poor who created jobs. It always seemed like my various jobs were coming from people with money. If I ever find myself out of work again, I'll be sure to ask that panhandler for a job.

  19. I totally agree. Steve Wynn PAY YOUR TAXES, STOP WHINNING. Why make the poor and middle class pay for your taxes

  20. LOL! It sure does Jeff. Any way of thinking other than theirs they call socialism too!

  21. Anonymous
    Jul 20, 2011

    I thought you were smarter than that Mr. Wynn? Now that I know your a Harry Reid lover you suck!

  22. Anonymous
    Jul 20, 2011

    Not surprisingly, you managed to miss the point entirely. The fact that Wynn has the skill to increase his net worth in this environment suggests that he just might be someone with advice worth taking.

  23. And it severely undercuts his remarks in this very post. He wants the burden of tax to fall on the far less wealthy.

  24. @Chris, relative to the burden on average Americans?

  25. Anonymous
    Jul 20, 2011

    It's nice to know that the uber-rich that are sitting on trillions of dollars that could create jobs are sitting on theirs asses and holding the country's well being hostage.

  26. Ed Chapman
    Jul 20, 2011

    Just recalled, is this not the same oinker who took away tips from his dealer employees to redisribute the tips amongst the pit bosses? And he's whinging again? Betcha Obama himself will be running the auction next week to take away Encore from him. And Obama will have a truck there to carry away his commission on the auction sales.

  27. Except he said he and his ilk are refusing until they get their way in Washington. Threats and pressure, because he thinks he can.

  28. You have to love the Republicans, They are the maters of fear mongering, sound bites, and rebranding marketing. "job creators" is a total lie. During the big tax cuts of the Regan era for the wealthy….errr I mean for the job creators, these upper 2% didn't come through Americans. Now, during the Clinton era, there were more new millionaires created and the ones that already millionaires, became richer. This increase in the wealthy during that time was bigger than the 12 years of Regan/ Bush and the 8 years of Bush 2 combined. The only reason I can see why Wynn making such a rant is that over the past 30 years, Repbublicans are more willing to bend over and take it from the rich for their own personal gain than their political counter parts. Wynn is not pro-American, just like the party he finnacial supports and expects favors from. Good luck to us all.

  29. @Kim – what do you mean "relative to the burden of the average American". The highest income bracket pays a much higher percentage of their income in taxes, so they are already paying shouldering a larger tax burden, percentage-wise, than other income brackets. Everybody paying the same percentage regardless of income – that is the text-book definition of FAIR.

  30. Ed Chapman
    Jul 20, 2011

    You make assumptions that are not provable with facts.

  31. Anonymous
    Jul 20, 2011

    When Obama signed the extension of the Bush tax rates, he didn't wait one minute before stating his intent to increase taxes when this extension expires, two years from now. He can't wait!

    I own a small business with two locations. We spent the first quarter of this year weighing the costs and benefits of a third location (which would increase our work force by, you guessed it, 50%).

    If I did the proper research, chose a good location, hired good people, did a pile of hard work myself, borrowed six figures of capital, and successfully fought the foundering economy, I could pay off my loan and start earning more money in 2-3 years……just in time for this president to tax my ass off.

    No, thank you. I'll stick with what I've already built.

  32. I wish someone would tell me how much "their fare should be" Most wealthy Americans are already giving close to 50% or their income to either the state of federal government. Sooner of later there is going to be a breaking point and as far as I'm concerned anybody that is making a buck and giving 50 cents of it away IS PAYING THEIR FAR SHARE.

  33. Steve Wynn is crazy and a bully. Ask anyone, who has had to work directly with him! Pretty much anything he says should go in one ear and out the other. I am not a Obama fan nor am I a politician fan in general. If you think they have the normal person's well being in mind, you are fooling yourself. Both sides just play off the emotions of party members blaming the other side and we as the people it really effects just sit back and fight each other! Time to put your anger where it belongs. That would be at the politicians and corporations, who rape this country on the backs of hard working people! We are in for a harsh reality soon in this country, actually the whole world. We have allowed them to continue to extend credit on top of debt on top of debt. The house of cards is about to crumble. We need to take back our country from these crooks, who take and take and never give back. Politicians are in their back pockets and do what is best for them not the country. If they were serious, they would have actually done something not kick the can down the road hoping it does crash on their watch. If the tax breaks were so the "job creators" would create jobs, then were are they? They have been in effect since Bush and we continue to loose jobs in droves! It is just an excuse to give the rich more (ak politicians and their friends) money! We are Rome people! Look up your history and you will be petrified to see how much we have in common with the Roman Empire!

  34. Hey woman you and I could set and talk about this for a couple of days. Anyway didn't you vote for him, I just wonder how he got elected.

  35. Anonymous
    Jul 20, 2011

    A lot of people are bashing republicans about what Steve Wynn said… do you know that Steve is a Democrat? He has supported the party for years. Big supporter of Harry Reid. The article forgot to mention that. Steve is just saying what every (not based on party) business person is thinking. Put yourself in his shoes for a sec, and then tell me what you would do. Would you fight back, or rollover and wet on yourself?

  36. Uh Jeff-he's a life-long Democrat and a major donor to Harry Reid.

  37. Anonymous
    Jul 20, 2011

    Figures never lie . . . but liars always figure ;-) That's what you have with social redistribution. It will always be the top 20% do 80% of the work, or in this case "paying of taxes."

  38. Matthew J Lovoy
    Jul 20, 2011

    All I can say if obama gets relected again buy alot of gold you should of been doing it already it will go up to 3-4000

  39. Yes, yes, yes, on flat tax!

  40. Actually he's an independent and the article does mention that he votes for Republicans and Democrats. Wynn basically votes for whoever at any given time in his district will save him the most money. Which is what most people want from their reps :)

  41. MrMikes, the comment about Job Creators comes from the fact that while jobs are not being created anywhere near when we came out of even the depression and also past recessions CEO's have increased their salaries over the last two years by upwards of 60%. Republicans trying to get rid of the term "Big Cat CEO's" turned them into "Job Creators" but all they are doing is increasing their own pay even among massive layoffs.

  42. Re-distribution is exactly what the president (notice the lower case "P"?) is looking for. Why do we have to demonize business? That's what this country is built on. Lets look at the socialist countries around the world-England, Canada, France etc-ALL of their social programs are bankrupt! I never got a job from a poor man-did you KIM? Are you an equal part shareholder in the INQUISITR or did somebody with MONEY start it up? IS YOUR PAYCHECK DRAWN AGAINST YOUR PERSONAL ACCOUNT OR IS IT DRAWN FROM AN ACCOUNT THAT HAS SOMEBODY ELSES MONEY IN IT? Since the biggining of time the MORE you tax people the LESS taxes are collected. Jesus-TWIFOFI! How bout this-the next time you and your family have a nice dinner on the table-your next door neighbor comes in and wants to take half of it home.
    to feed his family-Does that work for you? Cunningham is a perfect example of a mindless, factless liberal. WOW-probably worked for the f'n post office all his life!

  43. Explain the massive layoffs in Vegas in terms of job creation? Even as his Wealth nearly doubled last year the WYNN resort in Vegas laid off 261 workers. Make an extra billion and fire 261 people?

  44. I WILL NEVER NEVER STAY AT THE WYNN AGAIN.

  45. Rick, He also laid off 261 workers at WYNN Resort in Vegas last year while his own wealth increased by over $1 billion. Makes me sick.

  46. The logical leaps in that comment are astounding, have you considering changing careers to become a tightrope walker? There is a big difference between expecting businesses and the ultra-wealthy to pull their weight and wanting to take half of someone's dinner. Let's just pull tax rates back to where they were under your God, Reagan? How about that?

    We're not talking about taxing corporations, we're talking about tax spending on businesses that pay it out to themselves in dividends. The big trick the corporatists have pulled off on guys like you is that it hurts businesses. It hurts giant megacorporations. And they've conned you into doing their bidding. I've actually only ever worked for hard-working small businessmen, never a giant corporation, thank God. And I see what they go through trying to compete in a marketplace that favors the massive and corrupt.

    We already have socialism in this country. Your tax dollars are allocated massively to provide welfare for farms, for McDonald's, for Walmart. Those are the welfare queens here.

  47. Anonymous
    Jul 20, 2011

    The rich can sit on their profits because taxes are so low. If you raise their taxes to 50 or 75 % they will invest them in job creation so that they do not have the money to be taxed. The higher the corporate tax the greater the pressure to spend it before it's taxed. Also realize the poor spend every penny they earn and 99% of it in this country making the money multiplier much higher. Tax cuts to the rich decrease incentive for job creation and this money is often saved or spent abroad All you righties need to realize that Wynn wants you to pay the taxes not him The rich own the Republicans and they both are the enemy of hard working people.

  48. Amy Cox
    Jul 20, 2011

    He doesn't "claim" that the president plans on redistribution, the president himself said that was his plan…

  49. Do you have a link or a story proving this or did you just hear Glenn Beck say it once?

  50. Bottom Line is this!! The Rich are getting richer. The poor are poorer. RICH = 10% of Population and 90% of the money.. Greed is what is happening!! People who truly want to help cant because everyone ants to get theirs and everyone else's too!

  51. Really? the housing market bubble burst long before Obama even ran for office! Obama was left to clean up the mess that was here before. The truth Hurts and No one wants to take responsibility!

  52. he's not wrong.

  53. CeaCea Golem
    Jul 20, 2011

    So…..what are you trying to say?

  54. Jessie Townsend
    Jul 20, 2011

    It's okay..Nobama will take care of 'em

  55. Jessie Townsend
    Jul 20, 2011

    You're talking about the big gov't, right?

  56. Jessie Townsend
    Jul 20, 2011

    Race, Schmace

  57. Jessie Townsend
    Jul 20, 2011

    Nobama and his fellow commies aka Acorn community organizer cohorts thought (and still mistakenly think, ANYONE who wants to be a homeowner, should be) THAT"S the bubble that burst! " Oh, dear, my mortgage payment went through the roof because of the ARM mortgage that I was forced to sign but DID NOT READ!" And," You have one, why can't I?" At 25 years old, my husband and I had enough sense to know that GOTCHA would be just waiting and we wouldn't touch that kind of mortgage with a 10 ft. pole!Some people couldn't afford a house, but the stupid bankers caved to the picketing commie terrorists and voila! here we are today. Research back further than this morning's so-called news reports on liberal news networks.

  58. Jessie Townsend
    Jul 20, 2011

    Love this comment..LOL!

  59. Big government like the war profiteering industry?

  60. Or… the financial lobbies put pressure on the gov't to relax laws, knowing the mortgages would fail and they'd be paid on both ends? Cha CHING!

  61. I found the comment you're referring to, and I'm surprised- well, not really- that people are reading "socialism" into it: ""But what’s happened is that we end up – we’ve cut taxes a lot for folks like me who make a lot more than 250. We haven’t given a break to folks who make less, and as a consequence, the average wage and income for ordinary folks, the vast majority of Americans, has actually gone down over the last eight years. So all I want to do is – I’ve got a tax cut. The only thing that changes, is I’m gonna cut taxes a little bit more for the folks who are most in need and for the 5% of the folks who are doing very well – even though they’ve been working hard and I appreciate that – I just want to make sure they’re paying a little bit more in order to pay for those other tax cuts. Now, I respect the disagreement. I just want you to be clear – it’s not that I want to punish your success – I just want to make sure that everybody who is behind you – that they’ve got a chance at success too.”

  62. Why shouldn't people want to own their own home? The Economic collapse was largely due to mortgage collapse from the Bush II ERA, Banks were signing off on mortgages left and right without actually doing background check on customer/buyers! Why GREED!! All before Obama and His commies even took office. Grow up and actually see for your self how this current govt is playing janitor, nurse and repairman all at the same time.

  63. I'm talking about Big business! They seem to have more power than our own government these days!

  64. The funny thing is that I believe this country may not be racist as much as it used to be, but it still has a huge bias and stereotype against minority cultures. The reason this is funny to me is because with all the bias, bigotry and stereotypes that still exist, the economy was so messed up that all the bigots, racist still voted Obama in Office. The color green is the only color now a days that matters.. if you don't have the green.. You AINT Sh#t!

  65. Anonymous
    Jul 20, 2011

    I guess you really don't understand this theroy, "The rich get richer, and the poor get poorer." Do you know why this statement is true? . . . Because the poor keep doing things that make them poor and the rich continue to do what makes them rich. If you want your situation to change, you need to change it! Not the government, not your boss, nobody!!! If you know what you are worth then go out and earn it and stop blaming others for where you are. Steve is a smart business man that built what he has from scratch. What have you done! It's easy to be a critic, but there has never been a statue errected for a critic. They are to busy picking apart everyone else's dream or plans . . . just saying

  66. So the middle class just magically disappeared on its own with no help from Republicans, no looting from the upper classes? It was just a mass amount of laziness?

  67. Jessie Townsend
    Jul 20, 2011

    And your problem with that is…….?

  68. Jessie Townsend
    Jul 20, 2011

    Kim…yes.

  69. This a Nation of the People for the People. Not a nation of the Corporations for Corporate Profitability.
    That is the problem. We are losing our asses to China who happen to be a communist country that has managed to merge with capitalism. We take of our own jobs we send overseas so the Fatcat Corps make more money.

  70. Jessie Townsend
    Jul 20, 2011

    I totally agree with your last sentence, so I guess at 68, I'm grown up

  71. Amy Cox
    Jul 21, 2011

    Actually My family doesn't make much money, so I really don't pay a lot of taxes. I don't like Glenn Beck. Success is what you make for yourself, not something syou TAKE from others.

  72. No one wants to take anything from anyone. We just can no longer afford tax spending on the ultra-rich. Bring em back to Nixon levels. Or Bush I levels.

  73. well .this was not written or posted by me… just sayin!