Steve Wynn Lambasts Obama

Real estate investor Steve Wynn was on CNBC this morning and he slammed Obamanomics. Here is a summary:

"To the extent that we run these deficits and the government spends over $1 trillion it doesn't have, the principal people that are going to be whacked by that are people who work for a living."

"The notion that you can overtax people who have money has been proven wrong over and over and over..."

Wynn then had a pertinent quote from de Tocqueville:

"'The American system of democracy will prosper until that moment when the government realizes it can bribe the electorate with its own money.' That moment has come."