Wage Against The Machine(Peter Schiff is in it)

[aGameOfThrones]

http://www.thedailyshow.com/watch/tue-january-28-2014/wage-against-the-machine

[Matt Collins]

mmmm I love my idiotic propaganda in the evenings...

[Legend1104]

Note to self: Never go on one of those Daily Show hit piece segments. No matter what you say, they can edit it enough and set you up enough to make you look like an idiot no matter who you are. I bet that guy with the bachelors degree had it in like art or something and probably can't hold a job or has no real skills.

[Kodaddy]

That was disgusting...

[Travlyr]

Peter Schiff should not allow himself to be interviewed by people who are completely ignorant on economics. This 'hit' job by Jon Stewart tells me that Peter Schiff's message is a real threat to the status-quo.

[phill4paul]

"We cannot survive on the bare minimum."

And when the "bare minimum" becomes $15 an hour what then?

Yeah, Schiff should have known better.

[sluggo]

Schiff said they interviewed him for three hours, and they edited it down to make him look like an ass.

[phill4paul]

Schiff said they interviewed him for three hours, and they edited it down to make him look like an ass.

I've never seen one report by that woman that hasn't made the interviewee look like an ass. She's a comedian not a journalist and this is what she does. If I saw her coming I'd head the other way.

[Travlyr]

I've never seen one report by that woman that hasn't made the interviewee look like an ass. She's a comedian not a journalist and this is what she does. If I saw her coming I'd head the other way.

Yeah, but it is Jon Stewart's "The Daily Show" that performed the hit job. It is one thing if it is comedy with disclaimers and all in good fun. However, it is unethical to take people out-of-context to degrade them. It is downright dishonest. I'll never trust Jon Stewart again.

[EBounding]

Schiff said they interviewed him for three hours, and they edited it down to make him look like an ass.

Wow, why'd he agree to waste his time with this? Hasn't he seen what they do to people in those interviews? :confused:

[Matt Collins]

Jon Stewart is one of the greatest propagandists of all times!


The court jester can hide behind the audience laughter while saying things that no one else could say or do. Sadly, what I learned while working on the Ron Paul 2012 Presidential Campaign's media staff was that the entire mainstream media very closely follows Stewart's show every day. He literally shapes the news in the US.

This specific segment of the show involves free market investor and talk show host Peter Schiff (https://www.facebook.com/PeterSchiff) and makes an emotional, irrational argument against economic understanding of human action. It encourages economic ignorance and making policy based upon emotionalism (not to mention Keynesism)

[aGameOfThrones]

Some people are mad on his facebook page because he said "mentally retarded".

Disabled workers paid just pennies an hour – and it's legal

One of the nation's best-known charities is paying disabled workers as little as 22 cents an hour, thanks to a 75-year-old legal loophole that critics say needs to be closed.

Goodwill Industries, a multibillion-dollar company whose executives make six-figure salaries, is among the nonprofit groups permitted to pay thousands of disabled workers far less than minimum wage because of a federal law known as Section 14 (c). Labor Department records show that some Goodwill workers in Pennsylvania earned wages as low as 22, 38 and 41 cents per hour in 2009.

"If they really do pay the CEO of Goodwill three-quarters of a million dollars, they certainly can pay me more than they're paying," said Harold Leigland, who is legally blind and hangs clothes at a Goodwill in Great Falls, Montana for less than minimum wage.

"It's a question of civil rights," added his wife, Sheila, blind from birth, who quit her job at the same Goodwill store when her already low wage was cut further. "I feel like a second-class citizen. And I hate it."

Section 14 (c) of the Fair Labor Standards Act, which was passed in 1938, allows employers to obtain special minimum wage certificates from the Department of Labor. The certificates give employers the right to pay disabled workers according to their abilities, with no bottom limit to the wage. (http://investigations.nbcnews.com/_news/2013/06/25/19062348-disabled-workers-paid-just-pennies-an-hour-and-its-legal?lite)

[Travlyr]

Some people are mad on his facebook page because he said "mentally retarded".

Disabled workers paid just pennies an hour – and it's legal

One of the nation's best-known charities is paying disabled workers as little as 22 cents an hour, thanks to a 75-year-old legal loophole that critics say needs to be closed.

Goodwill Industries, a multibillion-dollar company whose executives make six-figure salaries, is among the nonprofit groups permitted to pay thousands of disabled workers far less than minimum wage because of a federal law known as Section 14 (c). Labor Department records show that some Goodwill workers in Pennsylvania earned wages as low as 22, 38 and 41 cents per hour in 2009.

"If they really do pay the CEO of Goodwill three-quarters of a million dollars, they certainly can pay me more than they're paying," said Harold Leigland, who is legally blind and hangs clothes at a Goodwill in Great Falls, Montana for less than minimum wage.

"It's a question of civil rights," added his wife, Sheila, blind from birth, who quit her job at the same Goodwill store when her already low wage was cut further. "I feel like a second-class citizen. And I hate it."

Section 14 (c) of the Fair Labor Standards Act, which was passed in 1938, allows employers to obtain special minimum wage certificates from the Department of Labor. The certificates give employers the right to pay disabled workers according to their abilities, with no bottom limit to the wage. (http://investigations.nbcnews.com/_news/2013/06/25/19062348-disabled-workers-paid-just-pennies-an-hour-and-its-legal?lite)

Ah Ha. Peter Schiff was right again!

[KingNothing]

Peter Schiff should not allow himself to be interviewed by people who are completely ignorant on economics. This 'hit' job by Jon Stewart tells me that Peter Schiff's message is a real threat to the status-quo.

It shouldn't tell you that. It may be a threat, but the proof of that is absolutely not found in this interview. Typically they set-up morons and bigots, so that they will look like morons and bigots. Schiff looked like neither, in spite of their best attempts.

[TheBlackPeterSchiff]

This entire minimum wage hike campaign is just political shenanigans.

If you look at the numbers, per the Bureau of Labor and Job statistics, only 3.8 million (about 5%) of workers are making the federal minimum wage, half of which are ages 16-24. If they do raise the minimum wage a few bucks, it will be done incrementally over the course of a few years, and the hike will only affect a very small percentage of workers. The negative effects to businesses, particular large ones will be minimual because (a) most are already paying their workers above min. wage and (b) they have economy of scale on their side. Of course smalls businesses and low skilled people will hurt, but the govt doesnt give 2 shits about them. The economy is phony enough that raising it will have almost no ill effect. And there is no way to track the jobs that ARE NOT created anyway. So they'll be able to say "See that, you greedy capitalists, the economy didnt impode like you said!"

It's a debate where we are automatically set up the lose. Obviously we win the argument on moral/economic grounds, but from a public perception stand point, we lose. They'll paint anyone who opposes min. wage law as greed, insensative scrooges.

If you are trying to market ideas, I'd just avoid the debate, or stick to the belief that individuals should be free to price their own labor. But if you get sucked into saying that the minimum wage will ruin the economy then you'll lose.

[ClydeCoulter]

Who or what is Schiff looking at during the interview. It's over the top of the person that "seems" to be sitting in front of him.

[buck000]

One answer he gave that looked really bad was where he said that fast food workers are usually teenagers.

Of course, TDS had anecdotes that disproved that.

The thing is, my own personal experience is that a lot of folks working in fast food are a lot older than 19...

Is Schiff making his own assumptions here, or are there good statistics that show minimum wage workers being in one age group or another?

I seem to recall seeing that the teenage unemployment rate was very high, supporting the notion that older employees are taking the entry-level jobs that used to go to the teens.

What Schiff says generally resonates with me, but this comment was weird, and he was certainly made to look the fool toward the end. The early part was good, though, where he asked Samantha Bee if she was willing to pay more for her burgers, and she "answered" obtusely.

[gwax23]

Fuck jon stewart and amanda bee. Let them have their 15 hour minimum wage and all those poor can then complain that there lack of a wage isnt livable.

And I doubt that 48 year old guy had a bachelors. He could barely speak. A bachelors in what?

[Travlyr]

Fuck jon stewart and amanda bee. Let them have their 15 hour minimum wage and all those poor can then complain that there lack of a wage isnt livable.

And I doubt that 48 year old guy had a bachelors. He could barely speak. A bachelors in what?

I think he meant to say he IS a bachelor.

[nbruno322]

Here is an Austrian economist debunking the Australia minimum wage myth.

http://www.internationalman.com/78-global-perspectives/1039-the-minimum-wage-and-unemployment-in-australia

[TheBlackPeterSchiff]

One answer he gave that looked really bad was where he said that fast food workers are usually teenagers.

Of course, TDS had anecdotes that disproved that.

The thing is, my own personal experience is that a lot of folks working in fast food are a lot older than 19...

Is Schiff making his own assumptions here, or are there good statistics that show minimum wage workers being in one age group or another?

I seem to recall seeing that the teenage unemployment rate was very high, supporting the notion that older employees are taking the entry-level jobs that used to go to the teens.

What Schiff says generally resonates with me, but this comment was weird, and he was certainly made to look the fool toward the end. The early part was good, though, where he asked Samantha Bee if she was willing to pay more for her burgers, and she "answered" obtusely.


If you go the BLS.gov website, you can see the stats. 5% of the workforce is making the minimum wage or below (below meaning waiters for example), of that 5% half of them are 16-24. Roughly 2 million workers are adults making minimum wage or lower. Yep...that minimum wage law sure will change the world :rolleyes:

[LibertyEagle]

One answer he gave that looked really bad was where he said that fast food workers are usually teenagers.

Of course, TDS had anecdotes that disproved that.

The thing is, my own personal experience is that a lot of folks working in fast food are a lot older than 19...

Is Schiff making his own assumptions here, or are there good statistics that show minimum wage workers being in one age group or another?

I seem to recall seeing that the teenage unemployment rate was very high, supporting the notion that older employees are taking the entry-level jobs that used to go to the teens.

What Schiff says generally resonates with me, but this comment was weird, and he was certainly made to look the fool toward the end. The early part was good, though, where he asked Samantha Bee if she was willing to pay more for her burgers, and she "answered" obtusely.

He's talking about how it used to be. It did used to be that kids were the ones who had the burger flipping jobs. But, that was before NAFTA, etc., that led to whole industries being shipped overseas.

[gwax23]

I think he meant to say he IS a bachelor.

Probably. A few other things like that supposed expert who was clearly lying about the statistics.

Its very hard to quantify the amount of people who never had the chance to get a job because of the minimum wage. Its easier to show people who lost it.

Another thing they do is aggregate. Minimum wage workers, work in specific fields and industries. So if you look at the fields and industries where minimum wage workers dominate then thats where you would see unemployment and rising prices. Instead they aggregate the economy as a whole and use jobs created in other industries to offset the jobs lost in the minimum wage one.

Further they dont point out that make 7.25 while get skills on the job experience is better than making nothing and learning nothing.

Further she almost gave an argument for not raising the minimum wage in that the increased cost of labor would be put on consumers leading to rising prices which then negate the added purchasing power of the artificially increased wages. Thats why we have this debate every few years to raise the minimum (mostly the fed monetary policy though)

He could of made a good point about why a 2 dollar wage wouldnt even exist in todays market due to inflation.

He didnt mention only 5% work for minimum many of whom might work in states with higher than the federal, and may even work for tips which mean they are making a lot more than it seems. If they are taken out of the picture people making only 7.25 are even a smaller % of the work force and a greater % of them are young and lacking in experience.

Anyway Jon Stewart is an ass and so are his minions. They are propagandists pure and simple.

[bunklocoempire]

Great comedy reveals real truth. I stopped watching DS and Colbert when it became apparent to me that they were settling for revealing a fairy tale time and time again.

Lame.

[gwax23]

Anyone know the viewership of Stewart and colbert? is it still high?

[Occam's Banana]

Bob Murphy @ Mises Canada: http://mises.ca/posts/blog/peter-schiff-talks-minimum-wages-on-the-daily-show/

Peter Schiff Talks Minimum Wages on the Daily Show
Robert P. Murphy (30 January 2014)

As many Austro-libertarians by now have seen, Peter Schiff was recently the subject of ridicule on The Daily Show. As you can see in the linked video (http://www.thedailyshow.com/watch/tue-january-28-2014/wage-against-the-machine), Samantha Bee’s bit portrays Schiff as a heartless, ignorant buffoon, whose opposition to the minimum wage is baseless.

In this post I want to make a few points about this episode, especially because some of the commentary from free-market fans seems a little off to me:

more at link: http://mises.ca/posts/blog/peter-schiff-talks-minimum-wages-on-the-daily-show/