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?”