Steve Wynn Rant from Q2 Conference call (WYNN)
Originally from Zerohedge, thought i would pass this on to my readers. As i am agreeance with Mr. Wynn.
Mr. Wynn – “ I am watching my employees standard of living drop off because of deficits. I think that the American public is beginning to make the connection between deficits and their own loss of the standard of living….
“Rich people are now being defined by the administration as people who make a million dollars. Well, most of the businesses in America, other than giant corporations, are paying taxes under chapter S, partnerships or individual proprietorships. So somebody shows that they make $3 million or $2 million this year and they pay personal taxes on that money. They subtract their cost of living and then what’s left, and that does not show that probably 25 or 30% of their profits are tied up in accounts receivable or inventory, stuff that they can’t spend or get their hands on, but to support their business and their employment, and then they take whatever is left, these so-called millionaires, and they open up another shop or another office and that, that is the only known engine of growth of the United States of America, and we have an administration that is fanning the fires that this is somehow undeserved, profligate millionaires, and it is worse than hypocrisy. It is totally dishonest.”