Democratic Steve Wynn: Obama Admin Greatest 'Wet Blanket' To Business, Progress And Job Creation

The other day I published comments from a small business owner who explained how the Obama administration tax increase proposals would cause suffering and perhaps financial ruin for small business owners.

Today we see the POV of a huge business owner, who explains how damaging Barack Obama's administration has been to business, progress and job creation.

H/T to Business Insider for linking to Seeking Alpha who provides a transcript of a quarterly conference call where Steve Wynn, the CEO of casino company Wynn Resorts, lays into the Obama administration and pulls no punches.

For the record... Wynn calls himself a "Democratic" businessman.

I believe in Las Vegas. I think its best days are ahead of it. But I'm afraid to do anything in the current political environment in the United States. You watch television and see what's going on on this debt ceiling issue. And what I consider to be a total lack of leadership from the President and nothing's going to get fixed until the President himself steps up and wrangles both parties in Congress. But everybody is so political, so focused on holding their job for the next year that the discussion in Washington is nauseating.

And I'm saying it bluntly, that this administration is the greatest wet blanket to business, and progress and job creation in my lifetime. And I can prove it and I could spend the next 3 hours giving you examples of all of us in this market place that are frightened to death about all the new regulations, our healthcare costs escalate, regulations coming from left and right. A President that seems, that keeps using that word redistribution. Well, my customers and the companies that provide the vitality for the hospitality and restaurant industry, in the United States of America, they are frightened of this administration.And it makes you slow down and not invest your money. 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. And a lot of people don't want to say that. They'll say, 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, their holding too much money. We haven't heard that kind of talk except from pure socialists. Everybody's afraid of the government and there's no need 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.

It doesn't get any more blunt than that.

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About Time A Democrat Notices Wealth And Value Creation Are Important

A must-read Washington Post op-ed piece written by a Democrat that calls himself "undeniably liberal on social issues," yet writes about the importance of wealth and value creation and how damaging some of the Democrat's signature pieces are to our country and our economy.

To understand my motivation, pick up the November issue of Washingtonian magazine. The annual Salary Survey notes on Page 81 that top trade association leaders (industry lobbyists) make multimillion-dollar salaries to "keep tabs on what the federal government was doing or might do."

These outsize earnings are symptomatic of a disease that is slowly killing the American economy. We are creating so much regulation - over tax policy, health care, financial activity - that smart people have figured out that they can get rich faster and more easily by manipulating rules on behalf of existing corporations than by creating net new activity and wealth. Gamesmanship pays better than entrepreneurship.

When you lose your entrepreneurs, you lose all the way around and finally a Democrat that isn't willing to spew the party line but instead is willing to stand up and point out the flaw in what Americans have been told by Obama, Reid and Pelosi.

From an entrepreneur's perspective, we need a national campaign to create transparency in our legislation and a national moratorium on the creation of commissions, regulators and czars. It is time for Congress to do the hard job of saying what lawmakers mean in clear and easy-to-understand language.

It is also fair to hold our leaders to a standard of transparency. We should reject bills that are thousands of pages or that delegate vast authority to unelected regulators.

Make sure you read the entire piece.

Kudos Mr. Panner.

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