It seems appropriate that in the same week that Atlas Shrugged premiered at the movies, Westgate Resorts CEO David Siegel sent a letter to his 6,500 employees warning them that the burden of taxes and the constant demonization of successful businessmen is reaching the point where he may decide it is no longer worth it to continue the hard work that he put in, building his company from the ground up over the past 42 years.
Siegel recounted the years of sacrifice, long hours, and hard work that went into making his business a success. Now he finds himself attacked for that success and is being crushed under a growing burden of taxes and regulation. “State taxes, federal taxes, property taxes, sales and use taxes, payroll taxes, workers compensation taxes, and unemployment taxes” take half of everything he earns. And President Obama is threatening to impose even higher taxes on him and his business. If that happens, Siegel warns, “I will have no choice but to reduce the size of this company. Rather than grow this company, I will be forced to cut back. That means fewer jobs, less benefits, and certainly less opportunity for everyone.”
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