Legendary investor and billionaire Wilbur Ross of WL Ross and Company discusses what is needed to boost the U.S. economy from the Republican National Convention in Tampa, Fla. He also commented on the Democratic party's stance on taxing the one percenters.
-- Democrat's idea of taxing the rich is silly. It's saying that if you get rid of the employer it will be good for the employees.
-- Uncertainty is keeping wealthy people from spending as well as businesses from investing. Businesses can deal with good news, they can adjust to bad news but they can't do much if they don't know where the dice will roll.
-- Uncertainty related to health care, taxes, regulations (financial industry, oil and natural gas industry).
-- How to boost confidence: People need to have confidence in the government and administration, which is not the case right now, so in order to boost confidence remove regulation. Regulations are handicapping businesses and the hurting economy.
Here is the video:
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