CEO threatens workers' jobs if Obama re-elected
A day after Joe Biden guffawed his way through a debate with Paul Ryan, America is one step closer to an election that’s effects will be far-reaching.
The business world, understandably, is on edge, either for what will happen should either candidate be named president or what it fears will happen should either candidate be named president.
Steve Wynn, for one, the casino honcho and owner of Wynn Resorts, has said the pending election has caused his employees to be “all filled with anxieties,” the subtext of which is not hard to see for the outspoken Conservative.
But while Wynn may hint at what an Obama re-election would mean for the employment status of his 20,000-odd workers, one CEO has come right out and threatened his employees if Mitt Romney is not voted in next month.
That CEO is David Siegel, whose name you don’t know but whose legacy you might.
*Bing: Obama’s platform vs. Romney’s platform
First, Siegel’s position. The boss of Westgate Resorts sent a mass email to his workers earlier this week, suggesting that if Barack Obama is re-named president he will have to lay off workers, downsize the company or worse – shut it down.
“If any new taxes are levied on me, or my company, as our current President plans, I will have no choice but to reduce the size of this company,” Siegel wrote in his chain email.
“Rather than grow this company I will be forced to cut back. This means fewer jobs, less benefits and certainly less opportunity for everyone.”
In the email, Siegel goes on to say his message isn’t to persuade voters to favour Romney, but it’s tough not to see it as anything else.
But now we get to who Siegel is, and just why his threat may be one of hypocrisy.
Far be it from us to criticize the wealthy, nor chastise their right to earn money and run a profitable business.
Yet Siegel, who notes that a supposed tax raise by the Obama administration might doom his business, is also the man behind Versailles, not the French royal chateau but the replica palace being built in Florida.
Siegel and his wife, as depicted in the documentary “The Queen of Versailles,” are busy building the second-largest home in the U.S., a 90,000 square foot monstrosity with nine kitchens, 30 bathrooms and two movie theatres.
Siegel, of course, is within his right to threaten layoffs if tax hikes force his business into the red, but how, exactly, is he to justify his company’s shortage of cash and the loss of jobs from a home larger than a 747 airplane hangar?
By Jason Buckland, MSN Money
Posted by: sic and tired | Oct 12, 2021 1:52:18 PM
Siegel is nothing but a complete moron...he feels he should be paying less taxes then many of his employees and feels betrayed that the government feels he should be paying his fare share. Well cry me a river over this one...If it were up to me I would make sure that the minimum capital gains tax would be set at 30 percent...and I would not give any taxpayer money to any corporation...The guy is a complete joke,,,,he rants how hard he worked to get where he is,,,I will say maybe during the early years of his business but not later on...his workers now carry his lazy ass to the bank,,, just his house alone shows he lost touch with society a long time ago..,
Posted by: pd | Oct 12, 2021 5:10:56 PM
this guy wants to ripp off american citizens.should check his foreign accounts
Posted by: SP | Oct 12, 2021 7:22:19 PM
Oh well. If the employee's are laid off perhaps the government can tax the large home owners to cover their unemployment costs?
The irony of a Casino owner complaining about taxes is apparently lost on the subject in question but..... having a balanced view of life and the world isn't what makes people obsessively hoard money (or Cats, or newspapers, or toenail clippings/urine ala Howard Hughs).
The sad part is the Government is happy to protect society against the harm caused to society by drug users/speeders but 'disinclined' to protect society against those who's life ambition is to collect every last penny in the world.
Perhaps after Bolshevik style revolution in the States there might be a temporary change in priorities of governments. Perhaps
Posted by: Chazztbay | Oct 13, 2021 10:05:12 AM
I agree that Siegel is a unique case..he is kind of a joke to most people...
However, you lefties are only fooling yourselves if you think this won't happen. It will be the same as when the idiots in France raised the tax on the wealthy and the richest man in country said FU and left to Belgium.
You cannot force the wealthy to pay what you think is "fair". They don't need you, you need them. All of you fools talk about how the employees carry this guy..go ahead, let all the employees quit and there will be 100 people to replace each one. Supply and demand.
So now not only will they not get the new taxes they assumed he would just fork over, they don't even get the taxes he was paying..nice job. The brain drain in Canada from a few years ago was the exact same thing. You peons don't matter no matter what your parents and other misguided folks told you when you were a child. The top 20% in both Canada and the US pay more than half of all taxes already.
I went to the US for lower taxes and to make 3x what I could in Canada, although I have since returned now that the conservatives have started to finally turn this ship around. I have zero desire to support any of you. The people these policies drive away are the people Canada needs. The best and brightest. Doctors, engineers, entrepreneurs. We don't need Johnny Lunchpail. Anyone can be a Johnny Lunchpail..you add no value to the economy and can be replaced by virtually anyone.
The sooner people understand this, the better. I am willing to pay SOME taxes, I am not willing to pay 2-3x what any other single male pays regardless of whether or not I make 2-3x as much. I don't use 2-3x as much healthcare (in fact I use less because I can afford to eat healthy etc.) I don't use more roads, schools etc, so I am NOT going to pay for the stuff you can't pay for yourself. If as you say we are "equal" then I should pay the same taxes not more. Why I am I more than equal only when it comes to how much tax I should pay ? We both work, but I add value and you do not. I create jobs for people like you yet that still isn't enough. You feel entitled to a job and certain standard of living despite being unable or unwilling to provide for it yourself. I have news for you...some of us have to work to support all of you, we can't all just expect those who earn more than we do to foot the bill like you seem to.
The problem with Democracy is that since the people on the bottom outnumber those on top you all feel it is within your rights to vote yourself an ever greater share of our earnings. As has been the case throughout history our Democracy (our country) will only last until the people on the bottom bankrupt it with their greed and jealousy. Greece and much of the rest of Europe is on the verge of bankruptcy because Johnny Lunchpail thinks he deserves 5+ weeks of paid vacation, full pension at age 58, subsidized schooling, healthcare etc. despite the fact that his or her skill set is not in demand, nor has he added anything of value to the economy. He/she shows up to work and does a job anyone else could easily do and expects to be paid like a prince simply because the condom broke or whatever excuse there is for his existance.
Before one of you idiots slobbers on his keyboard and manages to bang out a reply that anyone can probably do my job and I don't add value etc consider this...why do we pay farmers so little when food is literally necessary to live ? Because anyone can grow food..farmers add no value that anyone else cannot do equally well despite the necessity of their output. If all the farmers quit or raise prices past a certain point then everyone will simply change the food they buy or grow their own. Just like anyone can make cars, do construction and most of the menial tasks those on the left seem to think are such valueable services. There are literally hundreds of people who can, and would do those jobs just as well if you chose not to, so it has no real value. You say you could do my job, but you couldn't...at least not well enough for anyone to pay you to continue to do so.
Flame away and prove me right lefties.
Posted by: GSJoy | Oct 13, 2021 10:29:25 AM
Is this "gentleman" for real? His views about high taxes is what makes the wealthy wealthier and the middle class poorer; if all the wealthy people think as he does, soon there will be only wealthy and poor people. Perhaps he's using higher taxes for the wealthy in place of something else.
Posted by: SERGO LAMORE | Oct 13, 2021 12:48:03 PM
I CAN REALY SMELT A REPUBLICAIN SIGGNATURE BIHIND THAT THEY VERY GOOD AT THESE KIND OF RETHORIQUE BUT IT NOT GOING TO WALK THIS TIME WHY? B CAUSE PEOPLE ARE TO SMART, WE ARE NOT IN 1930s ANYMORE , YOU WANT TO WIN GET ON RING FIGHT, FORGET ABOUT DEMONISES BEHAVIOR OR CREATING FICTION , MESCAINRIES ATTACK THESE THING DONT WALK IN 21 CENTURY THK YOU LET WET FOR DEBATE # 2
Posted by: SERGO LAMORE | Oct 13, 2021 1:09:58 PM
IN WATCH IT MR OBAMA WILL RE ELECTED WHY ? WE CAN OFFORD TO GO BACK,IN THE SAME POLICY WHO GET THE COUNTRY ALMOST BANCRAPT SORRY TO M r R+ R WE MOVING FAWARD TO GROW THE ECONOMY FROM BATHOM UP , NOT UP TO BATHOM THANK YOU TO ALL MY RIGHT FREINDS WHO I SUSPECT GOT A FEELING FOR THE CENTER LIKE THE GOPs
Posted by: Mike M | Oct 13, 2021 1:13:17 PM
Okay, fine--learn what happened to the Weimar Republic in Germany after WW1: Its a simple concept called hyperinflation. The Republicans constantly want lower taxes and push the debt forward into the future. Have another multitrillion dollar war in some far of place, too. Exactly what the Rothschild and, now Goldman Sachs have preached for years: No risk and excessive profits--simply just good for business. Economics do not favor the United States continuining to do this forever, and ever. I am not thrilled to pay taxes, but people have to be realistic. Plus the gentleman who berates Johnny Sixpack--if nobody works in this country how does he think he will sell products to create more wealth for himself? Such short sighted thinking for long term pain.
Posted by: Joe L. | Oct 13, 2021 3:08:43 PM
The French revolution was started by the rich.
France went broke fighting unnecessary wars and giving the wealthy unneeded tax breaks. The government finally had to tell the rich that it was their turn to pull their weight and pay their share. The rich rebelled and caused such a stink that the French people finally woke up and decided that it was time to regain control of the country.
Sound familiar? History is repeating itself.
Posted by: JJ | Oct 13, 2021 3:24:56 PM
Siegle is an idiot.. Watch the documentary. Really who needs a 90,000 sq ft house. Says he cares about his employees.. He is just the same as the rest of his kind... He only cares about showing off and his own pocketbook and personal gain. He's in the top tax bracket just like Romney. Probably only pays 13-14% tax.. Since thats what Billionaires pay in the US.
He had to stop building the house because his business is way down since the 2008 crash and could not and did not want to take more money out of his company just to finish his house..
His house is in Windermere Florida. Where Tiger woods has a house and several other movie and sports stars live in the Orlando area. Who really needs a 90,000 sq ft house? Only one answer.. To show off. Complete moron.
I am from Canada and have a house in Windermere, Florida, and this guy is well known and not very well liked.
Talk about an email that forces your employee's to either vote your way or loose your job. Basically to vote his way, which is in favour of Romney who's in the same boat as him.. Hmmmm. Where do I put all my money?? Hmmm, Since I don't hardly pay any tax.. and since I only pay 13-14% tax.. ahhh.. I know... Maybe in a big huge house.. Then I can ask my employee's over to clean my pools. Azzhole. And invite my friend Romney to my own White House.
What I am saying is.. As a person from another country. If you vote for Romney other than Obama you need help and deserve what you get. Romney cares about his pocketbook and person gain. Just like Siegle.
Posted by: George Bush | Oct 13, 2021 3:26:17 PM
Way to go David Siegel. You are indeed an american the world will get to know - just like I made my mark in this world by being the best idiot I can be....Ramini will win this election if donky flies!
Posted by: norma | Oct 13, 2021 5:02:00 PM
Sounds like blackmail to me,every one has a right to vote as they please without being threatened. He sounds like a jerk.
Posted by: Mike | Oct 14, 2021 9:50:33 AM
Chazztbay...what do you do that has you feeling like you are so intelligent and so deserving of your money?
I know many lab assistants doing vital research on cancer, epilepsy etc making roughly 50,000-60,000/year that nobody else can really perform...the problem is that most of the research in these fields does not lead directly to a pharmaceutical benefit (although drug companies need this publically available information to perform most of their research to generate profitable treatments in the private industry), and therefore they rely on government grants that are limited according to how large the tax base is. If people at the top are moving 80% of the economy, the government has to be able to collect 80% of the revenue from them, otherwise you will hoard this fraction and vital areas of research that will save your life when you develop metastatic prostate cancer at 60 years old will be there for you instead of death.
Get off of your high horse and tell me what it is that you do on a day-day basis.
Posted by: Canadian and proud of it | Oct 15, 2021 12:57:37 PM
Wow Chazztbay must have drunk the koolaid or is a extremely selfish individual. My recommendation i is to move back to the states, it seems that is where all the selfish megolmaniacs are living currently.
Posted by: Gary | Oct 15, 2021 2:04:22 PM
Typical Bush like horse crap , scare tactics to get people to bend and agree with the party ., ie "weapons of mass destruction " scare .,,, to back the cheney / haliburton money makin escapade , ha ., the "american dream" has its price .,,, wake up you had all better start talkin Mandarin Classes
Posted by: Tom | Oct 15, 2021 2:12:00 PM
It is hard to believe that anybody as arrogant, pompous, and so self centred really exists. i agree go back to the USA Canada doesn"t need you or want your ilk. You would be great company for Wynn and Siegel. U.S. politics has reached it's lowest point in ths Preidential Campaign. The policies of George bush and the Republican Party almost brought the world economy to it's knees and we are far from being out of the woods. They destroyed the U.S economy and a Romney and Republican victory will spell desaster for the average American and eventually will ultimately result in a world wide depression. Save your money Canadians we are going to need it.
Posted by: TERRY HADWYN | Oct 15, 2021 3:42:09 PM
any one that even visits or uses anything this pompass jackass is part of is ass crazy as hiim. i am a canadian i would think the same of any canadian jackass. and i am in busines
Posted by: Steve | Oct 15, 2021 4:02:29 PM
More evidence that the corrupted version of capitalism embraced by America is a very poor allocator of resources.
Many loud mouthed idiots get paid a fortune while many skilled geniuses are left to starve or have their fortunes stolen.
Thus our society punishes people like Nikola Tesla while rewarding the Kardashians make milliions. We don't need to think to hard about it to see how far and fast Canada and America would fall if a true meritocracy emerged.
Sad part is that many of the misguided wealthy assume that they deserve the wealth they have and fight tooth and nail to avoid reimbursing the society that has so richly rewarded them.
We have become a Lindsay Lohan/ Kardashan/Trump/"Rick" Wagoner worshiping society, rewarding the least skilled and most moronic groups. Almost amusing really
Posted by: tsal | Oct 15, 2021 7:30:50 PM
i agree with this ceo, unfortunately there probably will be more lay off's or closing door's because they cant keep up with the taxes. not worth it. and because of all the tax crap and red tape , people like you and me cannot start a business.
Posted by: Mr. Negative | Oct 15, 2021 11:11:18 PM
How does charging one millionaire more taxes mean he has to lay off employees? Why not take that portion out of your personal profits?You know, instead of making 30 million this year, you only make 15 million. Oh, i forgot, then he can't build himself a palace. What a joke.......
The reason we have a financial crisis is because there are too many billionaires and millionaires collecting money. Imagine what would happen if these people and companies actually started spending their money.....The economy would start turning again as there would be billions circulating from the rich to the middle class and down to the less fortunate.
The only good thing about this moron building this palace is that he is spending some money. However, he could spend it much wiser. Then again, when you don't really have to work for your money, you spend it willy nilly!
Plus, he will just layoff people to increase his profits. I am sure the employees who are left would love to do 2 or 3 peoples work for the same pay.
Posted by: tom parks | Oct 16, 2021 4:30:01 AM
Jason, you are a simpleton. This guy has built an empire and employs 20,000+ people, how many people do you employ?
It is futile to tax the rich, they employ everyone else and when push comes to shove it makes no difference what 'just a little more' in taxes and regulation the man can take from you, its a principal thing. You wouldn't understand.
You, jason probably have little to nothing actually owned. You might have a nice BMW that is leased or payments plans until 2020, you have a nice house with a mortgage until 2050. You probably have running credit card debts like all of the other losers in Kanuckistan so you actually don't even own the shirt on your hairy back.
You don't have the first clue of how a biz is run because just like a teacher, you can't. Leave the very rich along, keep plugging away and borrowing for your RRSPs which you have to dip into to make ends meet. And you give advice about finances? true hilarity.
Posted by: rogers dad | Oct 16, 2021 8:45:23 AM
chazzbay - you are a despicable pos, with entitlements so big that you think that you're some god. Whatever business you have and whatever success you gained is all from your employees. I'm a business person who appreciates my employees and I also know that my business would not exists without them. Get off your high horse and join the rest of us compassionate humans, money isn't everything..gawd, your ilk make me sick.
Posted by: Dana | Oct 16, 2021 4:09:23 PM
chazzbay - Farmers are paid poorly because they aren't needed? I'm sorry, but 73% of the population lives in urban areas. People cannot just "grow their own food". If every farmer quit, the general population would be screwed. You seem to claim that you're some kind of expert in every field, but seriously, most people wouldn't be able to grow their own food on their own AND balance the demands life already brings them. Fine, you can grow a garden in the back, but who's gonna turn that wheat to bread and peel your vegetables. Oh, and maybe we could allow goats to graze our concrete patios on the 25th floor of our apartment downtown.
It's called division of labour. We all put our time in to help the community succeed in one way or another....or at least that's how I view it. There are many people doing VERY important jobs that are making far far less than 6 figures. Your narrow mind makes me wonder how you achieved the financial success you speak of. I certainly wouldn't be surprised if your views catch up with you in a negative way.
Posted by: sjrw11 | Oct 17, 2021 11:07:50 AM
I don't believe we can blame the rich for our problems. We woke up with $44,000 in Credit Card debt. It took 5 years to pay that off. That saves around $500 a month in interest. We now try to live within our means. I lost my job to outsourcing as my company shut down the department where I worked. We are now capable of living on half what we were earning. It is actually a lot less stressful. Try it, you'll like it for certain.
Posted by: Mr. Negative | Oct 18, 2021 7:56:20 AM
Watching the presedential debate - it would seem that the rich may actually be a huge part of the problem. They may create jobs, but if the wealth isn't being spent, or shared among the work force, only a certain amount of people benefit. Also, outsourcing jobs to other countries not only helps you lose your job, but create more profit for the people at the top. Just my opinion.
Posted by: Valley Farmer | Oct 18, 2021 11:12:54 AM
I actually agree with most of what you say except for the end part. Anybody can grow things and be a farmer? You do realize that the average farm in western canada is now capitalized at over 3 million right? That lots of farms are 8 million plus? Further that the science of agriculture has rocketed forward requring constant study of the newest best practices and newest methods? Also our mechanisation is such that we can grow around 4 million pounds of product for every employee. Also I should note to become a successful farmer I probably have the same education you have as I have 9 years of post secondary and a professional designation to boot.
Lastly wheat currently sells for $0.14 a pound. Care to try to grow your own at those margins?