Anyone looking to start a business under current political and economic conditions needs "a lot of courage," casino owner Steve Wynn told CNBC Friday.
Uncertainty over tax structure, health care and job market stability is heightening tensions and making it difficult for entrepreneurship, the owner of Wynn Resorts [WYNN 113.39 0.93 (+0.83%) ] and critic of President Obama said in an interview.
"That can probably explain to you why I've become so concerned about what's happening in Washington, because it's affecting the living standards of my employees," he said. "They're all filled with anxieties these days."
He specifically cited Washington battles over getting the debt and deficit under control, along with the possibility of "tax increases and increases in the cost of doing business that are totally unnecessary and irrelevant."
"They're noticing in their homes...that their paychecks are shrinking in real time because of government irresponsibility and the management of this deficit," Wynn added. "It's killing the living standard of my employees, and that immediately affects their attitude at work."
Wynn caused a stir earlier this week when he said, "I'll be damned if I want to have (Obama) lecture me about small business and jobs."
He told CNBC that administration plans to reform health care and spur job creation have done the opposite and are examples of "outrageously bad government by any standard."
Conversely, he said if Republican Mitt Romney wins "you should go long on the stock market."