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A Further Perspective
Steve Wynn Is Right
Too much government is killing the economy.
Among the long string of bad economic news from the last few years, there is something to celebrate: The political consensus in Washington that government could keep on growing at no cost to the growing economy has finally broken down. The size and scope of government is now the defining issue of our time. It is a welcome debate. However, it has centered on spending, which is only part of what government does. Regulation and tax policy are equally important.
Legendary entrepreneur Steve Wynn (who usually supports Democrats) put it bluntly a few days ago, when he said: “[T]his 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 three hours giving you examples of all of us in this marketplace that are frightened to death about all the new regulations, our health care costs escalate, regulations coming from left and right… And it makes you slow down and not invest your money.”
Wynn is right. If we want Americans to get back to work, we must tackle overweening government now. A recent survey by the U.S. Chamber of Commerce found that 64 percent of small businesses will not hire anyone in the next year. The reasons given all concern government: taxation, regulation, and the threat of new legislation.
A sterling example of Wynn’s point is the Dodd-Frank law that was supposed to solve the problems that led to the 2008 financial collapse. It empowered regulators to decide which firms are “systemically important” — too big to fail, in other words. Enshrining this concept into law will only make huge financial losses more likely, as firms deemed too big to fail will have an incentive to take more risks, in the knowledge that the government will bail them out when they get into trouble.
That is bad enough. Even worse is not knowing which firms are “systemically important.” Yet the Obama administration has yet to make that determination, which means that many large financial companies don’t know whether they will be covered, and so don’t know whether they will have to raise capital or reduce their leverage. That means that industries that rely on these companies for funding do not know what their cost of capital will be. As journalist Robert Tracinski points out, this is “the most basic piece of information in a functioning economy.” The only thing worse than bad rules is not knowing what the rules are.
Uncertainty is not the only way in which government drags down the economy. It also imposes crushing regulations. The cost of complying with regulations comes to over $10,000 per employee for small businesses and is continually rising — it’s already up from $7,600 in 2008. At a time when companies are reeling from the recession, it is remarkable that the Obama administration has not taken steps to reduce this burden substantially — offering instead only token efforts that do not even scratch the surface of the problem.
We have dug ourselves into a mighty hole. In the 1990s, federal spending increased by $300 billion. In the 2000s, it increased by over $1 trillion. Since 1995, federal bureaucrats have issued over 60,000 new regulations, all of which carry the force of law. The tax code is now 2.1 million words long. Ample evidence shows that this growth in government hinders growth and fosters unemployment.
Yet we can climb out of it, and we don’t need to reinvent the wheel to do so. The laboratories of democracy that are the states offer some possible solutions. In Wisconsin, Governor Scott Walker’s labor and fiscal reforms have reduced the power and reach of the state government. As a result, the Badger State added 9,500 net jobs in June — over half of the nation’s total of 18,000 net new jobs that month.
This shows that by shrinking the state, we can spark recovery. As I point out in my new book, Stealing You Blind, there are several ways to do this. For example, reduce the number of federal agencies and re-charter those that remain to better define their mission, reform public sector compensation and work rules, radically simplify the tax code, end labor union privileges, and above all institute genuine regulatory reform.
The current debate over the debt ceiling offers an opportunity to do all of this. It doesn’t all have to be done by August 2, but all these proposals should form part of the debate. If policy makers fail to seriously consider these solutions, they will just be kicking the can down the road. Reining in an overgrown and ever-expanding government — in all its forms — is the only route to long-term prosperity and national solvency. The time for action is now.
About the Author
Iain Murray heads the Center for Economic Freedom at the Competitive Enterprise Institute and is the author of Stealing You Blind: How Government Fatcats Are Getting Rich Off of You.
Letter to the Editor View all comments (126) | Leave a comment
More Articles by Iain Murray
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Gary B| 7.29.11 @ 6:30AM
“The laboratories of democracy that are the states offer some possible solutions. In Wisconsin, Governor Scott Walker… added 9,500 net jobs in June -- over half of the nation's total of 18,000 net new jobs that month.”
Yup... the states are leading us out of this mess. The turnaround in Wisconsin happened virtually overnight. This has been underreported, as is the usual case for conservative victories.
Mike D.| 7.29.11 @ 9:20AM
I said this before, the states will turn this around and throw back the Federal tyranny. If they don't then its over.
Gary B| 7.29.11 @ 9:28AM
Take a look at Oklahoma. If what I've read is true, they make Texas look like a liberal jamboree. It looks like they're "correcting" political correctness big time. I guess it's true... Oklahoma is OK.
CrackerHound| 7.29.11 @ 1:11PM
Wanna know why Texas is so windy?
Because Oklahoma sucks so much....
just kidding...Oklahoma is great.
Their music scene rivals Texas.
Al Adab| 7.29.11 @ 3:38PM
Ken would likely get upset if we started referring to Texas as Baja Oklahoma.
Gary B| 7.29.11 @ 4:27PM
So would I.
mames| 7.29.11 @ 12:34PM
And Wynn is part of problem for supporting his crony dems, The Nevada Mafia, all these years. screw Wynn even though this stopped clock was right - I guess he could be becoming an adult and understanding how the real world works and will begin to support the Tea Party , NOT Go get another face lift you phony bastard.
Darin| 7.29.11 @ 6:50AM
This excellent quote applies to leaders as well as governments.
"Don't tell people how to do things. Tell them what to do and let them surprise you with their results."
- General George S. Patton
Occam's Tool| 7.29.11 @ 2:07PM
Absolutely correct, Patton was. Obama is the biggest idiot on foreign and domestic policy that I have seen in any US President in my lifetime, with the possible exception of the Georgia Joke.
Al Adab| 7.29.11 @ 3:39PM
Nope, you got it right the first time. No exception.
skip| 7.29.11 @ 10:21PM
Speaking of jokes, what's the difference between the president and his party's symbol?
One is a gigantic eared braying jackass, and the other is a donkey.
irish19| 7.30.11 @ 12:53PM
OT, somewhere Jimmy is smiling, secure in the knowledge that he will no longer be remembered as the worst president in history.
Brian Mc| 7.29.11 @ 6:53AM
If this formula proposed in the body of your article is not implemented quickly, not even God can continue to bless us.
A truly sobering moment for all the bureaucrats would be the elimination of the 16th and 17th amendments to the Constitution. The popularity contest of the Senatorial body has made it a laughingstock and the abhorent relationship to communism of the so-called income tax system have brought about this debacle, it has only taken a hundred years; we truly will needs God's blessing if we are to reverse the damage in less time.
Have you considered| 7.29.11 @ 8:05AM
Briam Mc, you are exactly correct.
It may already be too late. When the whims of the electorate swing violently, like in 2008, it can leave no confidence in long term planning. I would not invest in physical plant here in this country at this point.
The Constitution was put in place to Constrain the federal government's powers, but that august document is no longer in effect in this country, hence the total uncertainty.
Pecos Pete| 7.29.11 @ 8:26AM
I agree with Brian about the 16th Amendment. Abolish the income tax and deprive Congress of money.
However, Congress will find other methods for stealing money, for redistributing your money to those in need. There can be no rational end to the debt crises ... Congress will continue to spend your money regardless of debt ceilings and other machinations.
The USA is bankrupt. Unfunded liabilities in excess of $100 trillion make the current debt fight silly. Congress will never reduce their demand to spend more.
Hyper-inflation is their only answer.
Buy a farm/ranch in rural America. Get out of urban cities before the collapse.
Brian Mc| 7.29.11 @ 8:54AM
The roving bands of marauders will make the Depression Era pale in comparison. A lone family on a farm will not stand a chance. They will require a fort along the lines of those built by Simon Kenton and Daniel Boone to fend off attacks by the desperate masses. And since I can't afford a farm...
Ret. Marine| 7.29.11 @ 9:22AM
" a lone family on a farm will not stand a chance" ooooh yea of little faith in the fly-over Country Patriots. Do you want to come on down to my farm and see if my hogs are as hungry as the losers will be soon, want to take a chance? I would not recommend it if I were you, or anyone for that matter. We already have our militia's up and running for about two years now. If anyone is that stupid to try and make a run on us hicks, go for it, I dare any comers. Don't claim I did not warn you.
Brian Mc| 7.29.11 @ 1:42PM
R.M.
You missed my point. A 'family' on its own, miles from the next neigbor here in Iowa would be hard pressed to defend itself 24-7. Hence, the remark I made concerning the fortresses of old. These havens were the rule at the turn of the eighteenth century against marauding Shawnee. Many families never quite made it to the forts mentioned due to distance and ambush.
Edward Johnson| 7.29.11 @ 11:14PM
There are no more "lone families on a farm". Only an asshole who has never been to a farm would write something as stupid as that. Go back to the 1950s where you and you ideology belong.
Edward Johnson| 7.29.11 @ 11:15PM
Where? Where is the land (or money) to buy a farm in rural America? too late, D-Bag. When the Revolution comes, you will be the first against the wall.
A. C. Santore| 7.29.11 @ 12:00PM
Sadly, Brian, the so-called "Senate" has now moved from the Laughingstock to the Weepingstock of our government.
I dread what will follow Weepingstock if we don't fix it in 2012. Perhaps it's unfixable. Or worse.
bennyhavens| 7.29.11 @ 7:39AM
Steve Wynn, another rich democrat. He voted for the idiot. Did he not hear his campaign speeches? Now he is worried that he will lose millions. And he is not the only one. Trump, Gates and Spielberg are a few more. They all have their high priced lawyers and accountants to hide their money from the socialist government they promote and defend.
David W| 7.29.11 @ 9:01AM
Wynn is a jackwagon. He supported Obama, even though it was perfectly clear what Obama wanted. And Wynn wasn't smart enough? Or was the "democrat" baton stuck too far up his rearend for his brain to determine how bad Obama would be for business. I would wish Wynn and the others a nasty bankruptcy, though they wouldn't suffer - their employees would.
Old Soldier | 7.29.11 @ 9:09AM
My thoughts exactly. He couldn't extrapolate the impact of Democrat policies? What an ass.
Gary B| 7.29.11 @ 9:35AM
Wynn can't be stupid so he must have supported the Democrats in expectation of crony benefits. Apparently, all he got was Obama bad mouthing Las Vegas. Remember that?
Everyone here is correct. You can't vote for a blatant socialist then complain about socialism. So, yea, Wynn is a jackwagon.
Martin Owens| 7.29.11 @ 10:05AM
Oh, he knew what was gonna happen all right....
It's just that he was betting it'd happen to somebody else. Businesses who play ball with socialism, whether they know it or not, are in the same position as Odysseus in the Cyclops's cave: " I like you, boy... so I'm gonna eat you last".
mames| 7.29.11 @ 12:36PM
amen Wynn is a phony face lifted a hole and do not forget there are still millions who consider owning a casino as moral as owning a whore house
tsd| 7.29.11 @ 7:45AM
I don't care much for Steve Wynn, but if he talks bad about Mr. Prez it's fine by me. It seems his grasp of the obvious is overwhelming...now lets do something past all the talking.
Ted| 7.29.11 @ 3:43PM
Honestly, I don't care what Mr. Wynn has to say now. He's a big Democrat and raised money for them. He's part of the problem.
I will give the President this. He never hid his political proclivities and desires. He never highlighted them or really ran on them in his campaign, but he didn't hide them either.
So people like Wynn or Gene Simmons (God bless his misguided heart) don't get any sympathy from me when they SUDDENLY REALIZE how incompetent our President is and how bankrupt his fiscal, economic, and foreign policies are.
If they had done their homework, they would have seen the writing on the wall before the election. They either didn't do their homework to discover the facts on our President's policy positions because they were lazy or they willfully chose not to care or see the facts on his policy positions.
Too little too late from Mr. Wynn.
Occam's Tool| 7.29.11 @ 7:40PM
Wynn is reaping what he has sown. Asshole.
SUBVET| 8.4.11 @ 3:59PM
Wynn and the rest of the lib's seen to think when all this collapses they are exempt from what they are trying to do. Are they just stupid or do they think "they" don't eat their own.
Louis Jenkins| 7.29.11 @ 8:12AM
"[T]his administration is the greatest wet blanket to business, and progress and job creation in my lifetime."
Well, you voted for Obama. Didn't you read between the lines Mr. Wynn? It is absolutely amazing that these people are now singing the blues since Obama laid down the law. I could understand that Obama was a thief, a man who wouldn't live up to his words. An economic whiz kid? Forget it. If someone as deft as myself could understand Obama was not what he claimed, how come you couldn't Mr. Wynn? Until Obama is swept out of the White House, every web and cog of deception, then you, and America, Mr. Wynn, are doomed to reap what is sown.
Redstateboy| 7.29.11 @ 8:40AM
Right on Louis..!! As for me?? Hussein lost me at Rev. Wright.
Mimi| 7.29.11 @ 9:18AM
For me it was the COLD, ICY decision to allow live aborted babies to die...on the table!
The other, was the letter to ODINGO in Kenya concerning using Alinsky methods .
Throwing "GRANDMA" under the bus didn't help.
Just didn't seem like you could TRUST the guy!
I don't know where everyone else was and why they didn't see ahead enough....I hope by now a lesson was learned ! All candidates need to be vetted with a fine tooth comb!! We can't ever go thru this again!!!!
Gary B| 7.29.11 @ 9:42AM
He was black with a Muslim name. That's all the guilt-ridden, empty-headed liberals cared about. I mean this guy was made to order. How better to show the world how diversified and fair we were than to elect Obama.
The proof? Who else but a community-organizing, anti-Christian, race-bating, black candidate could have defeated the Clinton machine and swept Hillary aside?
Edward Johnson| 7.29.11 @ 11:13PM
OHHHHHHHHHH! A "black with a Muslim name"! I can smell the fear, you dick. White Folks have run this country into the ground over the last 200 years. Give some one else a chance. or, you could continue to read Jason Mattera, who is frightened that the Presidents' dick is bigger than his. Typical no-analysis bull shit. Impress me with some facts, dickweed. "Anti-Christian" is not a fact, it is an opinion. I would expect nothing less from the likes of you. Here is a fact: Eric Cantor voted in favor of raising the debt ceiling in 2004. Mitch McConnell asked for "unanimous consent" for that action. What is different now? Oh, the Democrat in the White House. Both parties are ruled by Ideologues; follow one down the rat hole, you no-account twit. Think for yourself, schmuck!
Al Adab| 7.30.11 @ 12:37AM
Dear Mr. Johnson:
Excuse me. You might be surprised where you could find Conservatives.
Spartanfan| 7.30.11 @ 1:15AM
You can't smell fear through the computer...
Gary B| 7.30.11 @ 11:19AM
You mean the keen analysis and razor-sharp logic hopeless liberals and squishy independents used when they voted in the "first black president?"
And, by the way, I'm not a Republican ideologue; I'm a conservative ideologue. As we've all witnessed the past few days, there's a world of difference.
And, finally, what name do you prefer I call you?
NJK| 7.31.11 @ 3:33PM
Edward Johnson,
The Founding Fathers were white and out of about 55 of them, 52 were orthodox Christians. It wasn't whites who destroyed this country, it was people who got one more vote than the other guy, and suddenly thought they were smart enough to run banking, car companies, health care, drilling for oil, coal mining, etc. They have seized our God given natural resources, (they belong to the people) the government doesn't own them, have actually laid claim on the air we breath and think they can tax us on it. Taxing the air we breath and the coal that is used for electricity to fire up your computer I might add, is killing America. This last part is Obama and his communist ilk.
Gary B| 7.29.11 @ 9:43AM
One more thing... Did you ever in a thousand years ever think Hillary would actually look good?
Michael L. Hauschild| 7.29.11 @ 11:01AM
No, and I still don't.
LiveFreeOrDie| 7.29.11 @ 2:28PM
Me neither, but you do have a point. Hillary looks like a moderate compared to the O.
Gary B| 7.29.11 @ 4:29PM
And she was born here...
Occam's Tool| 7.29.11 @ 7:40PM
Hussein lost me when he ran against Alan Keyes.
madison mike| 7.29.11 @ 8:12AM
Oooops! the comment about Wisconsin generating half of the jobs is in error. Texas had over 30,000 by itself. It is just that some states had positive gains, others were negative so the grand total was about twice Wisconsin's number but less than Texas.
Indiana Alex| 7.29.11 @ 8:18AM
Yes, the regulations are definately hurting business, with the worst part being that the laws are so vague they mostly lend power to regulatory bodies to make up the rules as they go.
Tax policy may be even worse. There is no way to know what tax rates will be for whom and on what even two years out. There is thus no way to calculate return on investment or return on capital.
Mimi| 7.29.11 @ 9:23AM
Does anybody wonder if the Dem's can even write these bills? Is that why Harry doesn't really have a bill and wants to spin off on Boehner's bill?
Gary B| 7.29.11 @ 9:46AM
Lobbyists conspire with congressional staff members to write bills, while their bosses are clinking glasses and high-fiving each other at cocktail parties.
Pelligrino| 7.29.11 @ 4:35PM
And going to book signing parties, perhaps a-n-o-t-h-e-r fundraiser in Georgetown. Or waiting in line to be powdered for facial make-up, set in the green room, and then on TV cameras telling us how hard they're working for the nation.
The sum total of 90% of what any politician knows about an issue is on a 3 x 5 card typed up by a staffer (the "talking points").
Gary B| 7.30.11 @ 11:20AM
Exactly.
Ore Gone| 7.29.11 @ 2:33PM
They can't seem to put together a budget but look how easily they came up with a healthcare bill. It shows that the Big O was put into office for one reason and that was to pass the Healthcare legislation. Since then it has just been crippling regulations from his gang of anarchists.
Gary B| 7.29.11 @ 4:31PM
It's like when child playing in the other room suddely get quiet. You know something bad is about to happen.
WRTolkas| 7.29.11 @ 8:21AM
Reduce the number of government agencies and redefine their mission? I'm afraid I'll see this only after the first armed rebellion marches on the Mall.
Redstateboy| 7.29.11 @ 8:24AM
THIS is the kind of written piece in TAS that Liberal trolls who visit TAS like: purpleguy, RCV, alan brooks - etc. will avoid like the plague and why?!? Because it's the Truth! It's all right there for anyone who has half a brain car see clearly.
The Hussein administration, the 4 long years of total House control by Nazi Pelosi and Harry-the-war-is-lost-Reid (and control of all 3 branches for 2+ years) have wrecked the US Economy.
Mimi| 7.29.11 @ 9:25AM
The TRUTH never hampered these trolls....They just sleep late!!!
Gary B| 7.29.11 @ 9:47AM
That's funny, Mimi.
A. C. Santore| 7.29.11 @ 12:06PM
. . . and wrecking the U.S. economy was goal number one all along.
Next up is wrecking Constitutional democracy. Remember, he is tempted to assume the dictatorship [in name as well as in deed] to rapturous cheers from his base.
Grzmlyk| 7.29.11 @ 2:59PM
"Right there for anyone who has half a brain to see clearly?"
Redstateboy, I'm surprised at you: Purpleguy, RCV, Alan Brooks - and demented Melvin below - don't have half a brain among them. They have to share the faint fumes that are emitted by the mainstream media.
But according to Purpleguy on another post today, Steve Wynn is just wrong. See, PurpleGuy, an eternal college student and/or government handout recipient who's never run anything but his mouth, knows how business works. Wynn is a troglodyte moron, a slave to the real world of cause and effect. He can't possibly be as smart about the way the world works as the enchanted troll Purpleguy - who, after all, has clicked his heels three times and told himself over and over again that, being a wizard, he need not sully the blank slate of his mind with anything like real-world experience or an understanding of human nature.
And, of course, Paul Krugman, who has ventured out of the ivory tower of Princeton exactly twice in the last 30 years, once to collect his Nobel Booby prize and the other time to see if he could get a discount on one of Spitzer's previously-driven hookers, knows how businesses are run. See, he has these big books by Keynes to prove he knows how the world works. He just hasn't found the right incantation yet, or perhaps the right ratio of eye of newt to hair of toad.
Those trolls do not live in reality, and for too long, America's wealth has coddled their flabby, useless asses. I, for one, believe all of these parasitic fools should be forced (a word they love, after all) to live exclusively by the sweat of their own damned brows - to have to run small businesses in order to live.
That would thin the herd.
The Libertarian Menace| 7.30.11 @ 12:03PM
Keep it here, Grz, and in the words of one Graeme Edge, "keep on thinking free!"
Tina B| 7.31.11 @ 8:47AM
G:
You are so funny and so cool.
Sincerely,
An Admirer.
Melvin| 7.29.11 @ 8:25AM
Steve Wynn is full of crap just like our government is. The very laws and regulations that been passed and signed into law, is the very same mechanism that has made Steve Wynn billions, upon billions of dollars by moving a large part of his gaming business to China most notably Macau.
Mr. Wynn also noted, "The government is predictable. Our employees are eminently trainable. They're anxious to please. They have a fabulous attitude, whether they're local Macau people, mainland Chinese people, folks from the Philippines, they're just wonderful and all of that's come together to help us deliver the kind of product that we've always been delivering." Absolutely when these employees are getting paid .85 cents an hour.
Steve Wynn's admiration for Communist States goes further, "it's just so easy, after all, to be straightforward when you have totalitarian political control -- no annoying independent unions or opposition parties that need to be "wrangled." The Chinese Communist Party would know exactly what to do with the Tea Party.
I suppose if a person had the power to dig into Steve's tax bill, we would probably find out that his corporation is allot like General Electric that paid nothing in income tax.
If I could tell Steve Wynn something it would be, "Hey Steve you don't want employees, you want slaves provided by a straight forward totalitarian Communist Regime. I guess Barrack Obama was asking for a cut that was larger than you wanted to ante up."
Indiana Alex| 7.29.11 @ 8:58AM
So are you suggesting that he look for Americans that want to work at a resort in China?
Seriously, are you suggesting that American businesses should not open gambling resorts in other countries?
Or are you just using the "attack personally anyone who says anything bad about democrats" defense?
Melvin| 7.29.11 @ 9:46AM
I guess I should be relieved that you didn't tag me with, "Your nothing but a hater."
Let me put it this way. I don't have blind trust to the government no matter what political party is sitting on the throne, and I don't put blind trust in Companies like GE and Steve Wynn's Corporation who have benefited from Crony Capitalism, and weasel out of paying taxes.
GE ,didn't pay one cent in income taxes, I paid over three thousand. Is it me or doesn't something seem quite right here.
Occam's Tool| 7.29.11 @ 7:42PM
No, it is sick when GE pays less in taxes than Melvin, much less a much lower amount of its earnings than Exxon, simply because it is favored by The One. That's crap. Melvin is, as usual, correct.
wukong| 7.29.11 @ 9:39AM
Melvin put down the crack pipe. You're arguing a logic similar to, "The Colonel is shutting down the KFC store in Spartanburg and moving it to Xian."
Melvin| 7.29.11 @ 9:50AM
For starters I wouldn't eat at KFC in XIAN, just like I wouldn't eat the fish Tilapia that is farm raised in Chinese ponds in China with raw sewage.
Darrell Judd| 7.29.11 @ 8:55AM
Having a president that is basically a socialist academic is very bad. But the outrage of capitalists is a bit much to take. They have been allowed to leverage globalism against the national tax, labor, environmental laws, and strategic interest of their country while lining their pockets for 20 years. Except I keep having to remind myself, a capitalist doesn't have a country.
So, in the end, we are stuck with our government and politicians as the only group that can even pretend to act in the interest of the nation. Be afraid.
wukong| 7.29.11 @ 9:46AM
Would you explain to me how a capitalist acting in a rational business manner is acting in bad faith by, "leverage globalism against the national tax, labor, environmental laws, and strategic interest of their country while lining their pockets for 20 years."
Must we all follow the mob as it robs our neighbors and feel a smug morality as "everyone else is doing it."
Darrell Judd| 7.29.11 @ 10:39AM
He is not acting in bad faith, his faith may or may not be in the strategic interest of the U.S. In the age of globalism it has been undoubtedly not in the interest of the U.S.
Only a nation can have a strategy. Markets cannot.
Occam's Tool| 7.29.11 @ 7:44PM
It is a problem when the Capitalism is not Laissez-faire but Crony, wukong.
I grew up in Chicago. Politics there is a more closely watched Spectator Sport than the 5 Major Sport teams (for the record: Bulls, Bears, BlackHawks, Cubs, Sox).
irish19| 7.30.11 @ 1:05PM
I'm not sure you can classify the Cubbies as a major sports team given their performance of late. And I'm a Cubs fan BTW. I hate and detest everything about the Schlox.
Melvin| 7.29.11 @ 9:53AM
I suppose your trying to tell us, that the Communist Chinese Government is playing by the same set of Capitalistic rules that other Nation's play by?
Then if that is the case Senator Harry Reid and his culture of corruption has a large tract of ocean front property to sell you in Nevada.
Drunken Sailor| 7.29.11 @ 11:32AM
Actually no, the do not play by the same rules. They play by "State Capitalism"
" State capitalism has also come to refer to an economic system where the means of production are privately owned and the state exerts considerable control over the allocation of credit and investment. State capitalism is a term that is also used (sometimes interchangeably with state monopoly capitalism) to describe a system where the state is intervening in the markets to protect and advance the interests of Big Business."
We are more of a Laissez Faire Capitalism (or at least we were) We are fighting our goverments attempt to become a State Capitalism style. The democrats and President Obama in particular would rather see "State Capitalism". They just will not admit it as they prefer to keep the masses fooled.
Bill Hussein O'Stalin| 7.29.11 @ 10:36AM
And in the midst of all this the Republicans are still on board for the Interior Department continuing to add species to the endangered species list. Species have been going extinct for millions of years. Somehow we in our wisdom will stop it:
http://www.huffingtonpost.com/.....11290.html
In a rare defeat for Republican leadership, the House has backed a Democratic proposal allowing the Interior Department to continue adding new species to the Endangered Species Act.
A spending bill backed by GOP leaders would have only allowed species to be removed from the endangered list, rather than added. Republicans said the current program encourages lawsuits from advocacy groups that seek to have species listed as threatened or endangered, costing the government tens of millions of dollars.
Thirty-seven Republicans joined 187 Democrats Wednesday to reject the GOP. Rep. Norm Dicks of Washington state, who sponsored the amendment, called the GOP bill an overreach motivated by ideology, not deficit reduction. He said the measure had little chance of approval in the Democratic-controlled Senate.
Karl Jay| 7.31.11 @ 11:39AM
This kind of amazing behavior by the liberal academics...don't they know that extinction, by any means, is just another part of the evolutionary system? It's like humans are and aren't part of the ecologic mechanism...and if they think they understand the system, well, the thought just makes me laugh.
Chef Schnauzer| 7.29.11 @ 10:42AM
When President Reagan (God Bless) used to walk to the helicopter cupping his ear shrugging I'd smile.... playing a polite game with the press - the current crop really can't hear us - STOP SPENDING MY MONEY - stop with all the pointless useless government employees - stop with the phony task forses, blue ribbon panels, STOP PI%%ING AWAY MY MONEY, MY LABOR, MY FUTURE YOU SCUM.
davelnaf| 7.29.11 @ 10:49AM
The truth is the Federal government is an employer of people most likely to vote Democrat. So, we won’t see any reduction in the size of government until the dems are voted out next year, and even then the melting witch screams from the left might unnerve the Republican majority and the Republican in the White House. But these reductions have to happen; we will be buried by this government if they don’t.
Al Adab| 7.29.11 @ 11:09AM
Why do people and businesses keep moving to low tax, low regulation states over the rust belt and California? Simple, "Too much government".
Now we find the federal government suing companies (Boeing) for wanting to locate a plant in an unfavored (non-union) state. There is a word for a system in which business depends on government favor for its success. Some like GE seem to like that system and reward the governing power through campaign donations. Others find themselves on the wrong end of lawsuits for not follwing the government lead. Which system should we prefer?
Drunken Sailor| 7.29.11 @ 11:35AM
Al,
I agree (see my post above) companies like GE would prefer "State Capitalism". Why do you think so many of them and our politicians look to China for answers? They see a style of Capitalism that gives them more power.
cowgirl| 7.29.11 @ 12:36PM
California is the Stupid State - that is why people are leaving in droves.
Al Adab| 7.29.11 @ 2:23PM
Cowgirl:
You got that right. Business is fleeing also.
Gary B| 7.29.11 @ 4:33PM
California is my favorite foreign country.
Al Adab| 7.29.11 @ 5:15PM
Personally Gary, I look forward to soon emigrating to the Republic of Texas.
Occam's Tool| 7.29.11 @ 7:45PM
While I think the world of Ken, Al, Houston's traffic sucks and the humidity is horrible. Try DFW or El Paso.
Al Adab| 7.30.11 @ 12:34AM
No argument about Houston. Central hill country. Abilene, southest past lake Brownwood and into Brady, Eden and the hills north of San Antonio. Places like Fredricksburg.
Gary B| 7.30.11 @ 11:22AM
Al Adab,
That's what I did a year ago.
CrackerHound| 7.29.11 @ 1:36PM
I am one of those the media and many Americans are labeling as "too extreme". I am the Tea Party, and yes we are extreme....we are Thomas Paine radical.
It is times like these that call for radicalism. Regardless of the date on the calender, if we do not make real and deep cuts now, while the door is open during these debates, It WILL all come crashing down soon. Bohners bill does not have spending cuts. We all know it is illusory.
The argument that NOT passing something will cause the US to default on debt or receive a reduced credit rating is irrelevent. WE ARE THERE NOW! Here is our chance to turn it around.
The status quo is over. The only question now is which direction are we going to take....Freedom crushing, economy killing socialism or free from tyranny, pro-growth democracy? We are setting an example for the next generation. Which path will THEY be led to follow?
Read the Constitution....this is NOT how it is supposed to be!
Edward Johnson| 7.29.11 @ 9:42PM
I have read the Constitution, and it mentions nothing about money. Also, please learn how to spell "calendar". I suggest you actually read the document that you cream you jens over. You may learn something. Glenn Beck and his mindless drones have no conception of what it takes to save this country. I have no love for President Obama, but I have nothing but Hatred ad Bile for the likes of you. Wake up and smell what you are knee-deep in, idiot. When we default, don't come crying to me. I'll put a bullet in your brainpan.
DaveD| 7.30.11 @ 1:47PM
When you critic another's spelling you really should take pains to ensure yours is correct -- "cream your jens." - what a hoot!
Rob| 7.29.11 @ 2:20PM
Here is a proposed constitutional amendment that could address the problem of over-regulation: "Any provision of law or regulation of the United States may be repealed by the several States, and such repeal shall be effective when the legislatures of two-thirds of the several States approve resolutions for this purpose that particularly describe the same provision or provisions of law or regulation to be repealed."
Read more: http://trib.com/news/state-and.....z1TWHqhcsj
Naturalborn Texicanette| 7.29.11 @ 2:25PM
I have been waiting for an article like this!
Government needs to be downsized. We don't need our elected representatives to live in Washington D.C year round. They get bored and that means coming up with more ways to spend my money for me!!!! (when they aren't jetting around in Air Force 2 having a drinking party for their extended families, or going on their 6th vacation in the last 6 months!!!)
Why?
Because then they have time on their hands...time to think up stupid, inane, useless laws that only tighten the belt of socialism around the peoples' collective necks. More "creative" issues to extract more of the income we of the commoners class WORK so hard to earn, just so some liberal can take it away and share our earnings, or "help" us spend our earnings "wisely" because they are smarter and more compassionate than we are, and we are too dumb to know it!!!
TERM LIMITS.
DOWNSIZE.
GET REAL.
The working class is always expected to be realistic...it's time for our government to do the same. They are breaking us!!
Then where are they going to get the money for their massive spending programs.........?
Not from me. I'll be on public assistance......
P.S. Hillary looks worn out. Guess it's hard work to cover the b*tt of an incompetent boss.....
Stirling| 7.29.11 @ 2:26PM
do you not mean "pro-growth Republicanism?" I believe that Democracy is not really in the individual's interest... I don't mind being corrected in this, if I am incorrect...
Solo| 7.29.11 @ 2:28PM
Wynn was "riding the Tiger". He fell off and is now being eaten. I feel bad for his employees...unless, of course, they voluntarily voted to become unionized. If so...they can eat crap and die for all I care!
The country's total un-funded liabilities (Federal, State and Local) is in excess of $130 Trillion.
There are only 310 Million of us alive in this country.
Do the math...and prepare accordingly.
But know this: We're screwed and there is no way back this side of total economic collapse!
Edward Johnson| 7.29.11 @ 11:05PM
Ahhh, another "Union members can eat crap and die for all I care" person. The next time your entitled ass leaves work at 5 pm instead of 11 , thank a Union. If you are at work until 11 pm, I feel sorry for you, stooge. That is not being a capitalist, it is being a slave to capitalists. Steve Wynn would be proud to have you on staff, another Zombie that gleefully thinks in favor of His Royal Rich Large Cockness than yourself. Make sure you get your head in front of the shotgun when the time comes.
axbucxdu| 7.30.11 @ 11:43PM
Thank unions, slave to capitalists, and heads in front of shotguns. Well, well, what have heeya, is one them there 'mercan commies, like fer real, like.
So we can expect you and I suppose your fellow ilk to dispense this lead wisdom? Not likely, bud, but do keep threatening as it inflates your head making it a simpler target to hit at standoff. Shotguns? What a stooge.
Mimi| 7.31.11 @ 11:48AM
Heh Ed....You oughta try running your own business....Sometimes you work 24 hours a day...round the clock! when you get a moments rest your mind is working.
All of us who has, knows what I'm talking about! God Bless those who risked all to open their own business. It really is freedom and liberty in action....nothing like it, the WORK is freely chosen...you are working for yourselve!
Ore Gone| 7.29.11 @ 2:46PM
Why can't we turn DC into a museum and make Congress and the Senate confer remotely. Make them stay in their states and deal with the people they represent everyday instead of hiding in DC. That would make it harder to lobby if they were not located in one central place and keep the mischief to a minimum. No arm twisting by the president while they fly around in Air Farce one.
Al Adab| 7.29.11 @ 4:15PM
Conduct all sessions and committee hearings via Skype? Not bad.
I always thought maybe we should use some abandoned Army or Air Force base, put them up in the barracks, eat in the mess hall and see how efficient they get. Bet it would work.
Pelligrino| 7.29.11 @ 4:52PM
With 5:45 (that's a.m.) wakeup call for PT. No, not "Personal Time," Physical Training!
With the hardest DI's in the armed forces dogging and kicking/berating their behinds --- behinds that are rather flabby, just like their brains.
Good ideas, Ore Gone and AA.
Al Adab| 7.29.11 @ 5:44PM
The DI's could keep the lobbyists and hand-out seekers out of town.
Edward Johnson| 7.29.11 @ 11:02PM
Dumb. Not Just Idiotic, but Dumb. Even as a joke, this is mind numbing in its stupidity.
Trisha| 7.29.11 @ 7:23PM
I can't thank Mr. Wynn enough for calling out this President for who he his. By comparison, Mr. Wynn is a time tested, accomplished Businessman. As for this President, he thinks the American taxpayer is here to fund his gambling addiction....for unchallenged power.....Vote this man out...vote in the person who can win, no matter what!
Edward Johnson| 7.29.11 @ 9:38PM
"TIme Tested Businessman" indeed. When did that qualify anyone for making any sort of statement about governance? Product of the private Manlius School whose father was a "Bingo Parlor" entrepenuer. What a MAN!!!!!!! Living on what his Father did, like most "entrepenuers" in this economy. To have money in this country, Toots, you have to be born with it. If you don't think so, you are sadly mistaken or married to cash.
Trisha| 7.30.11 @ 9:29AM
Well Toots, I realize that you are unaware of the fact ( check it for yourself ), that the majority of wealth in this country is self created. Of the multi millions or billions owned only about 2% are inherited. Look at Buffet, Steve Jobs, Bill Gates, etc, etc,. As for me all you need to know is , I paid my own college costs, worked all my life, am where I am because of my efforts and hard work. Unfortunately, you toots, sound like a loser who needs to blame everyone else.
Edward Johnson| 7.29.11 @ 9:33PM
You sir, are a douchebag. Steve Wynn is a copraorate stooge, much like yourself. How much as Steve Wynn benefited from government programs in Nevada? This article features nothing new and much mental mastrurbation. I expected nothing less from the likes of you. Not that you will ever change how you think.
valwayne| 7.29.11 @ 9:50PM
Obama is the greatest failure we have ever had in the White House. Today's economic news shows that his extreme left wing policies have totally and completely failed! UNEMPLOYMENT is 9.2% and going higher. After trillions and trillions in wasted borrowing and spending Obama has only succeeded in killing our economy, and saddling us with nation destroying levels of debt. Lets just pray we can survive Obama and Harry Reid in the Senate until 2012! We desperately need some hope and change! Not the Obama lie!
Edward Johnson| 7.29.11 @ 11:00PM
Really? The "greatest Failure in the White House"? I have two names for you
1. Carter
2. Buchanan
3. You are a Fucking Idiot of the First Order. Read a Book, Moron. "Trillions and Trillions" of wasted money indeed. Your party (The Republicans) did not waste dollar one of that cash. Wake up and smell what you shovel, you blindly obedient fool. "Saddling us with nation destroying levels of debt". GW Bush had nothing to do with that, did he? Haters hate. players play. if you wanna rock the boat, you better have the strength to keep it afloat. You and you ilk do not. Think for youself, schmuck!
Al Adab| 7.30.11 @ 12:40AM
Perhaps. However sir, your language does your argument a great disservice. Please show a little civility if you don't mind.
irish19| 7.30.11 @ 1:12PM
Good luck with that. EJ sounds like someone unhappy with zero because he's not far enough to the left. His comments about when the Revolution comes make me chuckle.
Tina B| 7.31.11 @ 9:11AM
Thank you, Al Adab.
Spoken like the gentleman you are.
Rick| 7.29.11 @ 10:08PM
Your a rasist!
Gary B| 7.30.11 @ 11:29AM
Obama and his ilk have been calling me (us) a racist since he took office. Since he can't back up his Marxism with any credibility, he, like you, resorts to name calling.
Remember, he is the one we've all been waiting for. You know, the one who flipped off Hillary on national television. Wasn't that cute? That class act turned out to be a preview of antics to come.
POST American| 7.29.11 @ 11:33PM
----'80's Show' DIS-traction ALERT!----
Meanwhile, speaking of 'sources' of our
economic, moral and political downfall
CHECK OUT the State Department
memo 200 from 1975.
Then US Ambassador to RED China, Bush Sr.
lays out the KEY agenda to the RED Chinese regime.
----RESLOVED----
RED China to be 'brought up and brought in'
as the new industrial base of the world, and to
be placed at the very top of the New World
Order pyramid.
The US to be sold out and brought down to
third world status via deindustrialization and
a 'service' economy.
ALL this contingent on the already awesomely
genocidal RED Chinese regime implementing
aggressive EUGENICS programs and selective
extermination of elements of its own population.
----JUST a little '70's Show' TREASON op
fun you might have missed----
gary siebel| 7.30.11 @ 12:35AM
You should be more careful who you quote. Mr Wynn is on record as saying he wishes his company was based in China! Perhaps he prefers corrupt Chinese style over- regulation that depends on bribery rather than votes, meaning he can always get around them.
Perhaps you have heard of Las Vegas? It and Miami are the epicenters of the housing collapse. What has Wynn done for Vegas? Essentially nothing. At least nothing out of the ordinary for Strip moguls. He makes most of his money out of Macau these days. In fact, if you bother to read the fine print, which seems doubtful, you would note Strip profits pivot heavily on baccarat, a game the Asians love to play.
Wynn doesn't really care about America -- he only cares about profits. Perhaps you imagine the two are one and the same?
Trisha| 7.30.11 @ 9:37AM
Mr. Siebel,
I believe that Obama himself also made the comment it would be easier being President of China....what does that tell you?. As for Wynn, i think the spirit of his comment was the business enviornment has become very oppressive here...maybe you didn't recognize the irony & sarcasm.
Michael Mercier| 7.30.11 @ 12:43AM
There are more of "them" than "us".
It is essentially over at this point. We just need for the recognition of this reality to become apparent to all .
Then the inner city riots start. Where it goes from there is anyone's guess.
Godspeed to all...
Shanghai Dan | 7.30.11 @ 2:15AM
Seems many are taking Wynn to task for voting and supporting President Obama in 2008 - I think we're looking at a new conservative here, and he should be welcomed into our ranks. He's now faced the reality of what he voted for - and he doesn't like it.
Welcome, Steve, to the Right!
Speedypete| 7.30.11 @ 8:36AM
I like to respond with real life government stupidity experience. Take a subdivision association where the IRS wants to audit a paltry $2,500/year in dues. Take another subdivision with $60,000/year in dues and it takes 6 hours/week of Quicken to keep up with the IRS reporting. The IRS points out that the forms are only required every 2 years but the books must be kept meticulously. What kind of jackasses would allow this. Yes, Mr. Wynn is right, they are killing the economy and those of that do the work are really tired of it.
St. Thor| 7.30.11 @ 9:49AM
Steve Wynn is welcome to the fight, but his support of Harry Reid is despicable and contrary to what he claims he wants.
Gary B| 7.30.11 @ 11:32AM
All correct. Regardless of his current or past motivation, I'm glad he spoke the truth out loud because the media picked it up.
Bernfp| 7.30.11 @ 6:01PM
RUST - Regulation, Uncertainty, Spending, Taxes. All championed by the master job killer, Barack H. Obama. Long may he reign as the worst US President ever - and may that term start ASAP.
POST American| 7.30.11 @ 9:53PM
"Understand, this money system of
unaccountable, banking, rabid compound
interest (ie USURY) is the central CON.
Not until we challenge, dismantle, prosecute
and change this awful, immoral and pervasive
'money system' --will anything change.
IN FACT it's right on schedule to get much,
much, much worse. We're to be destroyed."
-ALAN WATT
(deadly online coverage)
----------------ANY QUESTIONS?-------------------
martin j smith| 7.31.11 @ 8:10AM
Crony capitalists must decide what side they are on--as long as they curry favor with ANY government their words are hollow. I am not particularly wealth--except in love and that is pricelss. But in terms of the idea of class warfare--the average Socialist really is being taken to the cleaners by the LEFT propaganda. As for people like Wynn--if he supported Obama then fine let him rail but it is a bit late. Ok good at least his type has woken up- but I DO NOT HAVE TRUST FOR CRONY CAPITALISTS AT ALL AND IN A WAY THEY GET WHAT THEY DESERVE.
Richard Baker| 8.1.11 @ 5:50PM
Grew up in Northern Virginia and when people come within the Beltway their reason and logic magically disappear. Only in DC could Baseline Budgeting be taken seriously, as an example. Another example, remember when Bob Dole ran for President? He went to Russell, Kansas, his hometown, to announce his candidacy. However, Bob Dole lives in the Watergate and Russell is and never will again be his home. Why? Because DC is where the action is and he's just another political junkie. I voted for him but realized that he was no longer a Kansan.
Erik Osbun| 8.4.11 @ 5:34PM
When Wynn talks about the administration, he should realize that he's talking about a Communist cell.