Steve Forbes Boosts Mississippi College Scholarships

America's complicated tax code needs an overhaul and the federal government should put a halt to binge spending, businessman Steve Forbes says.

And who could argue with the observations of the astute editor-in-chief of "Forbes" magazine who visited Mississippi College on Monday.

The Princeton graduate also weighed in on the nation's troubled economy as the keynote speaker at the university's annual scholarship dinner.

Before about 500 MC supporters at Anderson Hall, Forbes closed the evening on an upbeat note.

Despite an upheaval in Washington in the midst of two shaky economic years, "we have the power to turn it around," Forbes concluded. "We've done it over 200 years."

As guests dined on steak, shrimp and sweet potatoes, the 62-year-old New Jersey native spent much of the night serving up his views on the nation's stressed financial scene. 

"We will get 3 to 4 percent growth this year," Forbes predicted. "We are in somewhat of a recovery. This year will be far better than last year."

Taking questions from MC School of Business Dean Marcelo Eduardo, Forbes also offered his take on timely topics like the public anger over executive pay, especially big bonuses for leaders on Wall Street.

MC audiences were delighted with his fact-filled speech as the university's third annual scholarship dinner was winding down at the B.C. Rogers Student Center.

Forbes "gave us a lot of food for thought," said Don Phillips, an MC trustee and businessman who served on the event committee.

The visit by the former Republican presidential candidate was a big plus in other ways. Part of the Christian university's $80 million "Growing the Vision" campaign, the event produced a record $312,500 for scholarships. "That is amazing," Phillips said.

Forbes joined a powerful one-two punch of MC speakers since 2008. Former U.S. Senate Majority Leader Bob Dole and ex-White House Deputy Chief of Staff Karl Rove were the previous two scholarship speakers and the two spring events generated more than $422,000.

"It's very good to have him (Forbes)," said Lt. Gov. Phil Bryant, who introduced the speaker. "I was encouraged to hear what I thought to be simple things on the free market economy," added the MC graduate who teaches political science classes part-time at his alma mater. "This gentleman is a great American."

The evening attracted other notable guests including Mississippi Agriculture Commissioner Lester Spell, Mississippi Supreme Court Justices William Waller and Randy Pierce, Hinds Community College President Clyde Muse and Blue Mountain College President Bettye Coward.

Forbes also touched on many of the same economic messages during a visit before a packed lecture hall of students, faculty and alumni at the MC School of Business.

He called for an end to the nation's enormous tax code with its fast-rising total of more than 9.5 million words. It's even complicated to figure out, he says, for scores of America's tax experts. The Declaration of Independence, by comparison, is only 1,300 words, he noted.

The president and chief executive officer of "Forbes," the guest speaker was also asked to size up the best advice he was given and pass it along.

"Be prepared for setbacks," Forbes said to his audience at Self Hall. "Life will throw you curve balls, but don't let the event destroy you."

A tireless advocate for the flat tax as a presidential candidate in 1996 and 2000, Forbes kept preaching that message during his Mississippi College appearance.

The reform of America's healthcare system also got the attention of the frequent contributor to Fox News and "Wall Street Journal" columnist. "There's no reason why the government has to take over healthcare," he said.

In a Tuesday story in the "Clarion-Ledger" by business reporter LaRaye Brown, Forbes was asked to size up the 2012 presidential prospects. "Sort of like the prom, I'm looking at everybody," he said. 

Forbes also told Mississippi's largest newspaper he would support Gov. Haley Barbour if the Mississippian runs for president. He praised the Republican's leadership during Hurricane Katrina and around Washington over the years.



PHOTO: Steve Forbes