Steve Wynn on Health Care

" You know billionaire business and Steve -- made his fortune to provisional loyalty. But make no right beds and not mincing words the legendary Las Vegas thing. Has the Obama administration that gambled away an opportunity to really fix the economy and focusing too much on health care reform. Instead of creating jobs right now now you know about a legendary background but I think it was his performance on FOX News Sunday. It created a cult following for this -- all over again Steve Wynn the chairman and CEO Wynn Resorts joins me right now seem very good to have you thanks for coming. And -- lose is really getting ridiculous but hey I'm saying that I'm talking about everybody what will watch in this desire does working. And man on man the reaction. Over the top it was just over the -- what you were saying is look I know a thing or two about. How to run a business and how to deal with the insurance I've dealt with it from -- 20000 plus workers -- families right. We self that your what did you make of that and what the government is trying to do now and what the process started --"

" Well first of all. One of the things we have politicized now with the Obama administration. One of the most critically important parts of our social structure the care and care in the attention -- plea to each other in medical and medical services. One of the things it's never been brought up as I happen to know about our doctors. About what's going on the cost of malpractice. Is one of the main contributing factors but worse than the plaintiffs' bar. And the malpractice lawsuits that are ridiculous. Is the fact that most of the doctors if they don't quit their practice. Are going and and using an enormous amount of tests to cover their -- where does your insurance carrier says so that are unnecessary. These are powerful forces at work. And raising the cost of medical attention in America this administration because the plaintiffs' lawyers are big democratic supporters incidentally. And don't get me wrong it's fun to be on fox. But I vote Democrat and I vote Republican I go both ways and depending on the candidate -- been supporting Harry Reid most of my life. The fact of the matter is we've politicize this none of the real issues are being addressed here's a vote you talk to as senator congressman today. Here's a vote where the government of the United States. This tinkering. In a punitive way. Without even reading the bill or knowing what the bill is how absurd and ridiculous is this. And here's the president United States and his chief of staff Rahm Rahm Emanuel. Twisting every arm doing every trick in the book. To make sure that what the president wants the president gets no matter what that well he's going to get it either -- yet so what. I know he has. I know -- but what's emerged with this. This process is at its punitive whether it's cap and trade or their -- medicine. If you don't do what they want in society you get punished. This is not progress as I understand it. And in the meantime this is the equivalent of a guy -- hemorrhaging going in the emergency room. And getting a -- cosmetic surgery we should be worrying about putting people back to work. But getting people jobs so we can have a positive feeling about tomorrow so they can afford to go to the doctor. And this idea that the government will punish you if you don't do exactly what they want and that the government knows best what to do. I mean what could be more graphic. Then the things that we're seeing today. Were bills are being voted upon that are profoundly important in immensely complicated and they don't even exist when the voters taken. If this is good government -- I'm Mary Poppins. You don't appear in our province of that's 1600. Workers you have however they -- right now. Well half of -- a union the culinary bartenders union with which we have had a wonderful relationship for forty years never had a grievance in forty years and we -- very good friends of ours the other half for insured by us. In our own company and so how would this so that we -- Well it be nice if we had a bill to fully understand it but my guess is everybody is going to pay more all the small businesses all the big businesses. It'll put more of a squeeze on the bottom line. More of a squeeze on the financial stability of the American business economy. More loss of jobs this this administration. Without any experience. Is doing more damage. Then it is easy to assess at the moment but I tell you that I am sure we're moving in the wrong direction. And I say that is half the Democrats have a Republican. What we're seeing now just doesn't make sense the priorities have all been inverted. We are worried about I mean the environment I spent four years in the towel regional planning authority one of the most. Active and complicated environmental protection agencies in America protecting Lake Tahoe and I can tell you it's not a -- subject. But we've got things like cap and trade in play here everybody is doing sound bites and no one knows what the heck they're talking about. I mean we've we've got senators and and congressmen of both sides of the aisle on television. Admitting that not only have not read the bill assuming they could read. But they -- there and that's been written there has been one written that they can read. And yet we are rushing headlong to change some of the fundamental structures American well."

" Done -- like -- it's it's happening and whether we like it or not it is going to have the deed is done as I said. But but -- ask you you raise the issue -- we could have better you spent that 900 billion you know trying to. Sued to get jobs and they've fortified million of of them. We didn't do that you're you're you're talking to me from a region that's been hit harder than most I think the unemployment rate in Las Vegas is an axis of 13%."

" On like senator. Like governor -- home in Michigan and in Nevada these these states that have very lopsided single industry economies right you know they. Cars and and tourism. The cars got themselves and their own pickle with the help of the United Auto Workers. The industries that that the Las Vegas tourism industry. Has had its own problems because of what's going on and America but we got a little knowledge. In the negative direction the president. I made it clear that if you went to Las Vegas you were profligate."

" went to Disney World and maybe a little bit brighter went to visit or maybe it would have been more as once so dependent. How's it going there now you keep hearing reports that things are getting a little better -- little stable now you're resorts -- books and what what's happening."

" Well what we're we're we're occupied on weekends and you know it because but the rates are much lower but what's missing. Is the low to mid week convention and meeting business and the president and the economy have scared a lot of that off we don't we don't see that coming back at the moment. And that's how long is that the hello is the moment apartment."

" Good question -- I'm afraid that I can't answer that question intelligently. Interest on. The rich the super rich who want to show off their wealth and and and venison and and you certainly had certain venues for them to do just that include your latest result. What they do. I was let you know I don't know represented in new York and they're not doing as much as it -- actually. Trying to hide their wealth."

" What what's going on. Las Vegas is really a giant world class middle class destination resort the amount of super rich people would come here gamble very high. Gets publicity but it in terms the amount of people that are here it's tiny and very fractional. Las Vegas backbone of its business is the convention. Middle America commercial business whether it's midweek or weekends. Most of the very wealthy people have a way. Of regulating their income and such a wave when taxes are high they pay less. They they can duck. They can postpone income. They can live -- principle. When the government starts to overtaxed the economy as there in the process of doing. This is invariably the brunt of it the pain of it. -- felt by the very people that these politicians claim to be serving. The working middle class because their dollars plummet in value UC. -- that inflation and the devaluation of the dollars making everybody's buying power that voted for Barack Obama go through the floor. But it is not a continuation of a process that was already. -- in full strain. You me talking -- from the Bush Administration. Well surely because the war in Iraq. Cost a lot of money and we ran deficits. But what we're seeing now this is something else. The kind of money that's being spent and the amount of taxes that are that are that are directly and indirectly being proposed are huge. The at the ceiling on the Social Security payments is coming off my children for example. I'm an unsympathetic person and that's right. But. I'm all I'm over 65 I guess 25000 maximum payment from Social Security but I pay ninety. Happy to do it. On the citizen what the -- But now I'm going to pay more and more and more but that that's what this is this is okay. To each according to his. From each according to his ability to each according to his need you recall that that is the that's the war cry of socialism and communism. We're seeing old we're seeing socialism -- here at the moment."

" You do know he's okay if it worked yeah I'd be okay if it worked Wilson never works right. Let you have done your very best to avoid the kind of layoffs that are very rampant not only your industry but across the board. I think even including half. Billion dollar bond offering ostensibly is to to to keep people employed. But there isn't a point and overturned -- are you. Close to that or would you have to do the unthinkable and do mass layoffs."

" Well you know that we're now in the position of complete unpredictability would the Obama administration so. And congress I don't know what will happen I have a sense. That if once the public gets the drift. And understands exactly what's afoot here and these bills pass. That there's going to be a very painful mid term election for the Democrats. It's too bad because some of the damage won't be easy to -- I'm afraid. Weather will have lay offs or not that's less thing in the world. That I want to do have avoided it for forty years you my biggest asset or my employees. And I'll do anything to protect them as long as I can. I think we have quite a well a pretty a pretty good capacity protect our employees I don't want any of the feel insecure."

" Well you know it definitely looked after Mike -- and it's I didn't that's what's gonna come right now try to your big very big offering their last week. Now concerns that China is cracking down on gambling or might entertain -- I believe it's the only region where China allows it. Are you wearing."

" Not at all it's a pleasure to do business in China the government is much more evenhanded. Much more considered. Much more gentle than it is here. I've been there for seven years and it's been a dream to be in Macau. And to watch the central government interaction with the government of Macau and see how they proceed. It's very thoughtful. And it's intelligent. I feel much more secure in China as a businessman that I do with a moment in the United States of America is that simple. Yes sir I'm afraid to say it is so. Steve -- a real pleasure talking to thank you very very much nice talking the email Steve -- Amanda Winn resorts CEO."