The most interesting tidbit regarding the news about Steve Wynn sexual harassment accusations is the $7,500,000 payment to one of Wynn’s accusers. He is denying the rape/sexual harassment charges but not the pay out. I am assuming the payout then is real. He wanted to avoid the embarrassment of go through the criminal justice system, so, having an extra 7.5 million dollars to throw around, he bought the woman off.

I would invite Senator Grassley, who thinks the rich should get more tax breaks than the poor because the poor will only spend it on alcohol and women and not invest in making their businesses more competitive, to ponder this awful transaction. This money isn’t going to be job creating or investing in some grand entrepreneurial scheme; it is going to a victim of a crime, perhaps a felony, and to her lawyers. We could have distributed $100,000 to the worst welfare cheats in each of the 50 states and then put in another $100,000 to the worst welfare cheats in the 25 largest cities in the country and gotten more income generating dollars for the economy.

Let’s also face it. It probably isn’t good for Steve Wynn. When a person has that much loose change, he suffers under the illusion that he can get away with anything because he can buy off anyone. As we now know, that can get rich people like Steve Wynn and Harvey Weinstein into some very big and embarrassing trouble. If only Steve and Harvey had had less mad money, they might have found it in their best interests to behave and spent what money they had more intelligently.

I do think Senator Grassley is on to something however. It was only after reviewing my previous blog regarding the rich and taxes that I realized that Senator Grassley was correct that any extra money a man has seems to be spent on women and alcohol. Although he was only applying his rule to the poor, I propose it has a more universal application. I offer proof that the rich too spend their extra money on alcohol and women:

The amount Bill Koch paid for fake vintage wine. 400,000
The amount Bill Koch spent investigating fake wine. 35,000,000
The amount Steve Wynn paid to silence his victim 7,500,000