David Siegel, the timeshare and resort mogul who owns the Westgate Park City Resort and Spa in Park City, has told his employees that if President Barack Obama is re-elected and raises his taxes he will have to lay off employees and maybe even shut down his sprawling Florida-based empire that includes resorts in at least eight other states.
"If any new taxes are levied on me, or my company, as our current President plans, I will have no choice but to reduce the size of this company," Siegel wrote earlier this week to his 7,000 employees.
"Rather than grow this company I will be forced to cut back. ... My motivation to work and to provide jobs will be destroyed, and with it, so will your opportunities. If that happens, you can find me in the Caribbean sitting on the beach, under a palm tree, retired and with no employees to worry about," Siegel said in his 1,600-plus-word letter.