Out of Control Policy Blog

Steven Wynn Talks Jobs, Economy, and the Need to Reduce Government

Steve Wynn, CEO of Wynn Resorts, a global entertainment business empire, has an exclusive interview (with investor Ron Baron of Baron Capital) on CNBC (Oct 23 2009) where he talks about jobs, the economy, and the dangers of current economic policy that focuses on taxing the so-called rich.

The meat of the economic policy part of the interview starts at about the 4 min, 50 second mark. The "money" quote, in my opinion, is around the 11 minute mark where Steve Wynn says:

"Look the federal government's most powerful weapon is its tax policy, and the restraint of federal power is the most dynamic use of federal power."

In other words, cut taxes to spur innovation, job creation, and long-term economic growth.

The interview is an extraordinary (for mass market TV) 20 minutes, but it's loaded with insight into investment, capital formation, and the job creation side of the economy. (Look for his analogy to the Three Little Pigs early on around the 2 minute mark.)

Samuel Staley is Research Fellow

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Comments to "Steven Wynn Talks Jobs, Economy, and the Need to Reduce Government":

Erwin | October 27, 2009, 1:06am | #

Amidst of global crisis, some tax policies had been impose as a way to maximize their government revenue. I have nothing against this because the government are just aiming to acquire additional fund for them to carry the government projects. Anyway did you know that tennis players do have their tempers – Novak Djokovic chipped a court in Hong Kong with a tossed racket, Serena Williams had her bit, but then again, tennis pros make millions; so it isn't like they need credit cards for the fines.

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