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Thread: Steve Wynn on Obama at yesterday's Shareholder Meeting

  1. #41
    [QUOTE=bitonti;4065389]it doesn't even kick in until 2014 or something. How is it killing jobs in 2011?[/QUOTE]

    Well if I was thinking of opening a business as entrepreneurs do, and it was going to be a hospitality business like a hotel or restaurant, before you open you run a business plan. So when we calculate employment expense we would need to add in the obamacare expenses to the equasion. Now on a small scale in a 75 employee restaurant we know that at minimum we need to add an extra 2000 per employee per year to pay the obamacare fee and send those workers to the public system. Thats $150,000 per year minimum. Thats after we deal with all the additional expenses from the EPA and all the other regulations on the books. Now if an entrepreneuer was going to invest say 5 million to open this business which may return 10% on capital after expenses $500,000 before Obamacare. Barely enough return to risk the 5 mill. Now simply add in the obamacare cost for $150,000 per year. That takes us down to $350,000 on 5Mill. 7.5% ROI. That would be below the threshold of safety and thus we would walk from the deal.

    This was a small sample of how business growth works. If the risk reward scenario is not favorable it is better to do nothing. In the scenario above 75 people didnt get a job because government regulation made the investment too risky. Government is a major cause of stangant growth. It had been brought on by both partys but as usual the Democrats are the major offender.

    I would never open a factory or manufacturing process in a state where i was under threat of unionization. It is simply not worth it. Thats why Texas has been prospering during this recession. The business friendly environment there allows for risk reward scenarios that make sense to entrepreneurs.

  2. #42
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    [QUOTE=chiefst2000;4065385]The credit card nonesense. .[/QUOTE]

    lol

    Yeah. So dumb that people should be able to understand the 75 page legalese papers they send to you every month that are worded in a way to confuse people and purposely try to rip them off.

  3. #43
    [QUOTE=chiefst2000;4065391]Well if I was thinking of opening a business as entrepreneurs do, and it was going to be a hospitality business like a hotel or restaurant, before you open you run a business plan. So when we calculate employment expense we would need to add in the obamacare expenses to the equasion. Now on a small scale in a 75 employee restaurant we know that at minimum we need to add an extra 2000 per employee per year to pay the obamacare fee and send those workers to the public system. Thats $150,000 per year minimum. Thats after we deal with all the additional expenses from the EPA and all the other regulations on the books. Now if an entrepreneuer was going to invest say 5 million to open this business which may return 10% on capital after expenses $500,000 before Obamacare. Barely enough return to risk the 5 mill. Now simply add in the obamacare cost for $150,000 per year. That takes us down to $350,000 on 5Mill. 7.5% ROI. That would be below the threshold of safety and thus we would walk from the deal.

    This was a small sample of how business growth works. If the risk reward scenario is not favorable it is better to do nothing. In the scenario above 75 people didnt get a job because government regulation made the investment too risky. Government is a major cause of stangant growth. It had been brought on by both partys but as usual the Democrats are the major offender.

    I would never open a factory or manufacturing process in a state where i was under threat of unionization. It is simply not worth it. Thats why Texas has been prospering during this recession. The business friendly environment there allows for risk reward scenarios that make sense to entrepreneurs.[/QUOTE]

    the Republicans like to use the phrase "job creators" as a euphemism for "the rich"

    Obama has extended their tax cuts, introduced new ones, and yet they don't create jobs.

    I think people create jobs when there is money to be made. Good jobs, the type of money where paying for an employee's healthcare isn't a huge deal.

    If raising taxes kills minimum wage jobs in chiefs bar and grill, big whoop. I don't think it will but even if it does who cares?

  4. #44
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    [QUOTE=bitonti;4065538]the Republicans like to use the phrase "job creators" as a euphemism for "the rich"

    Obama has extended their tax cuts, introduced new ones, and yet they don't create jobs.

    I think people create jobs when there is money to be made. Good jobs, the type of money where paying for an employee's healthcare isn't a huge deal.

    If raising taxes kills minimum wage jobs in chiefs bar and grill, big whoop. I don't think it will but even if it does who cares?[/QUOTE]

    BIT....

    I am fine with Clinton era tax rates. Do you really think that will change anything?

    This is the equivalent of you making 100K a year and spending 200K a year every year for 10 years and the tax increase is like a pay increase to
    125K a year.
    Last edited by southparkcpa; 07-22-2011 at 08:55 AM.

  5. #45
    [QUOTE=southparkcpa;4065559]BIT....

    I am fine with Clinton era tax rates. Do you really think that will change anything?

    This is the equivalent of you making 100K a year and spending 200K a year every year for 20 10 years and the tax increase is like a pay increase to
    125K a year.[/QUOTE]

    The Democrats will never bring back Clinton era tax rates it raises taxes on the middle class substantially.

  6. #46
    [QUOTE=southparkcpa;4065559]BIT....

    I am fine with Clinton era tax rates. Do you really think that will change anything?

    This is the equivalent of you making 100K a year and spending 200K a year every year for 20 10 years and the tax increase is like a pay increase to
    125K a year.[/QUOTE]

    I know it wasn't you who said it, but during the GW years just about every business/GOP guy stated having debt is a good thing.

  7. #47
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    [QUOTE=bitonti;4065538]the Republicans like to use the phrase "job creators" as a euphemism for "the rich"

    Obama has extended their tax cuts, introduced new ones, and yet they don't create jobs.

    I think people create jobs when there is money to be made. Good jobs, the type of money where paying for an employee's healthcare isn't a huge deal.

    If raising taxes kills minimum wage jobs in chiefs bar and grill, big whoop. I don't think it will but even if it does who cares?[/QUOTE]

    Can I give you a little advice? Stay out of threads in which you clearly have zero knowledge on the topic. You'll be way better off.

    Not only have you exhibited a lack of fundamental understanding of business, but with this post, it is clear you can't delineate between personal income tax and corporate taxes and regulation.

    Instead, try to bring something other than constant apologies and deflections away from the obvious failures of this miserably dumb **** you call a president.
    Last edited by JetPotato; 07-22-2011 at 08:49 AM.

  8. #48
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    [QUOTE=Winstonbiggs;4065579]The Democrats will never bring back Clinton era tax rates it raises taxes on the middle class substantially.[/QUOTE]

    Crazy....

    I did a tax return for a married couple, 95K in gross income. 2 kids a house etc...

    NET federal tax liability was less than $3,500. THAT is a part of the problem. We have too many paying too little.

  9. #49
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    [QUOTE=cr726;4065580]I know it wasn't you who said it, but during the GW years just about every business/GOP guy stated having debt is a good thing.[/QUOTE]

    In its fundamental sense...debt is meant to finance long term assets. i.e your mortgage to your house, car loan to your car etc... when debt is used to finance operations then trouble abounds.


    This is the equivalent of a working family borrowing 100K, unsecured, to pay for a vacation for their neighbors who work at $9 jobs and pretty much each weekend always have a 24 pack, cell phones and color TV to watch their weekend porn.

  10. #50
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    [QUOTE=southparkcpa;4065609]... pay for a vacation for their neighbors who work at $9 jobs and pretty much each weekend always have a 24 pack, cell phones and color TV to watch their weekend porn.[/QUOTE]

    So...you want to put Keystone Light, Cricket Wireless and Vizio out of business? For shame, CPA...for shame... :P

  11. #51
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    [QUOTE=PlumberKhan;4065615]So...you want to put Keystone Light, Cricket Wireless and Vizio out of business? For shame, CPA...for shame... :P[/QUOTE]

    You forgot to mention Youporn.....;)

  12. #52
    [QUOTE=bitonti;4065538]the Republicans like to use the phrase "job creators" as a euphemism for "the rich"

    Obama has extended their tax cuts, introduced new ones, and yet they don't create jobs.

    I think people create jobs when there is money to be made. Good jobs, the type of money where paying for an employee's healthcare isn't a huge deal.

    If raising taxes kills minimum wage jobs in chiefs bar and grill, big whoop. I don't think it will but even if it does who cares?[/QUOTE]

    The problem here inst the income tax bracket. It is government regulation and punishing mandates for business owners. That's what kills the job creation. Here is how the cycle continues. The only way to get out of the mess we have made is to grow the economy and the tax base. Taxes have been at 18% of GDP for most of the past century. No matter where the brackets were set and what the government has done they have stayed consistently at that level. Today the code is as progresive as it has ever been. The bottom 50% Americans dont pay any taxes. Thats Progressive! The top 10% pays almost 80% of the tax burden. Again that's quite progressive. Our current tax rates are fine. We need to grow the economy. It is about jobs. The ebst way to stimulate job growth is to create an environment friendly to business.

    Texas has created more new jobs in the past four years than the rest of the country combined. It is because their government has made a real and concerted effort to create a business friendly environment. I read something yesterday that is a great example. Texas passed a tort reform law that forces people that file frivolous nuisance law suits against small businesses to pay the defendants legal fees if the suit is determined to be frivolous. Small business live in fear of these types of suits in which legal fees alone can put you out of business. This is common sense. It does not apply to injury cases or serious suits. It just goes to frivolous suits. The law is fantastic and every state should pass similar legislation. This is a small example.

  13. #53
    [QUOTE=cr726;4065580]I know it wasn't you who said it, but during the GW years just about every business/GOP guy stated having debt is a good thing.[/QUOTE]

    I didn't say that. I doubt anyone did. As a matter of fact the main criticism of Bush's presidency was his spending addiction. Conservative talk radio harped on this all the time. We were promised smaller government and we got the opposite.

  14. #54
    [QUOTE=chiefst2000;4065651]
    Texas has created more new jobs in the past four years than the rest of the country combined. It is because their government has made a real and concerted effort to create a business friendly environment.[/QUOTE]

    ya know who else has a business friendly environment? Arizona. yet they don't have texas jobs for 2 reasons:

    1) Texas found new massive natural gas fields and new ways to extract from old oil and gas (fracking)

    2) Texas has way more REGULATION about mortgages, you couldn't get approved without 20% down and credit scores. so there was no foreclosure bust in Texas.

    let's not pretend it was their "right to work" policies that help Texas or their great GOP governor. It was actually their resources and their regulation.

  15. #55
    [QUOTE=JetPotato;4065597]Can I give you a little advice? Stay out of threads in which you clearly have zero knowledge on the topic. You'll be way better off.

    Not only have you exhibited a lack of fundamental understanding of business, but with this post, it is clear you can't delineate between personal income tax and corporate taxes and regulation.

    Instead, try to bring something other than constant apologies and deflections away from the obvious failures of this miserably dumb **** you call a president.[/QUOTE]

    I love the "Can I give you a little advice" posts. Just put me on ignore buddy. We will all be happier.

  16. #56
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    [QUOTE=chiefst2000;4065657]I didn't say that. I doubt anyone did. As a matter of fact the main criticism of Bush's presidency was his spending addiction. Conservative talk radio harped on this all the time. We were promised smaller government and we got the opposite.[/QUOTE]


    BUSH was a friggin disaster. I think we'd have done better under GORE and that's saying a lot.

    BTW.........

    In all due respect ...you need to change your Avatar. The gay son form Braveheart??? Really???;)

  17. #57
    [QUOTE=bitonti;4065682]ya know who else has a business friendly environment? Arizona. yet they don't have texas jobs for 2 reasons:

    1) Texas found new massive natural gas fields and new ways to extract from old oil and gas (fracking)

    2) Texas has way more REGULATION about mortgages, you couldn't get approved without 20% down and credit scores. so there was no foreclosure bust in Texas.

    let's not pretend it was their "right to work" policies that help Texas or their great GOP governor. It was actually their resources and their regulation.[/QUOTE]

    It was government regulation that forced banks and mainly FNM and FRE to accept no down payment loans. Texas simply passed a law that negated it for their state. you are looking at the situation backwards. New York also found massive gas fields and so far we have no fracking drilling here and no fracking jobs. The only way we will grow the fracking economy is to fracking elliminate all the fracking regulations that these clueless fracking politicians pass. The fracking government gets in the way of growth at every fracking turn.

  18. #58
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    [QUOTE=southparkcpa;4065703]BUSH was a friggin disaster. I think we'd have done better under GORE and that's saying a lot.[/QUOTE]

    Holy frijole.

    That [B]IS[/B] saying a lot.....

  19. #59
    [QUOTE=chiefst2000;4065704]The only way we will grow the fracking economy is to fracking elliminate all the fracking regulations that these clueless fracking politicians pass. .[/QUOTE]


    Clean drinking water > economic growth.

    also feel the same about the air. humans can't live for very long without air or water. Money is far down the list of essentials.

  20. #60
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    [QUOTE=bitonti;4065716]Clean drinking water > economic growth.

    also feel the same about the air. humans can't live for very long without air or water. Money is far down the list of essentials.[/QUOTE]

    Tell that to the public employee unions.:rolleyes:

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