First it was Steve Wynn, head of the famed Wynn resort empire, speaking out against Obama. Now its Bernie Marcus, co-founder of The Home Depot.
In an interview with Investor’s Business Daily (IBD), Marcus blasted Obama and his policies, saying “even brain-dead economists understand that when you raise taxes, you cost jobs.”
That’s some tough talk. But really, it’s only the beginning:
IBD: President Obama has promised to streamline and eliminate regulations. What’s your take?
Marcus: His speeches are wonderful. His output is absolutely, incredibly bad. As he speaks about cutting out regulations, they are now producing thousands of pages of new ones. With just ObamaCare by itself, you have a 2,000 page bill that’s probably going end up being 150,000 pages of regulations.
It gets even more direct:
IBD: If you could sit down with Obama and talk to him about job creation, what would you say?
Marcus: I’m not sure Obama would understand anything that I’d say, because he’s never really worked a day outside the political or legal area. He doesn’t know how to make a payroll, he doesn’t understand the problems businesses face. I would try to explain that the plight of the businessman is very reactive to Washington. As Washington piles on regulations and mandates, the impact is tremendous. I don’t think he’s a bad guy. I just think he has no knowledge of this.
Those are some harsh words. And as we get further into this administration, it’s becoming all too common. However, Marcus’s biggest revelation may not be about Obama’s policies, but more about his administration’s alleged thuggery. According to him, CEOs are scared to speak out for fear of retaliation:
IBD: Why don’t more businesses speak out?
Marcus: They are frightened to death — frightened that they will have the IRS or SEC on them. In my 50 years in business, I have never seen executives of major companies who were more intimidated by an administration.
“Out of the mouths of babes,” the Bible says. Nowadays, it’s out of the mouths of business leaders.