| ► Author Peter Schiff: Today’s “Rodney Dangerfield” Award Winner |
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Author Peter Schiff: Today’s “Rodney Dangerfield” Award Winner  Congratulations to….
Author Peter Schiff
Today’s “Rodney Dangerfield” Award Winner
In a recent appearance on Fox News’ so-called Fox & Friends, hosted by co-host Brian Kilmeade, Peter Schiff was questioned about the minimum wage. As we speak (ca. Sept 2011) the federal minimum wage is a whopping $7.25 an hour.
When asked by Kilmeade how to encourage job growth, Schiff laughingly said:
“Well, one of the most anti-poor people rules is t he minimum wage. It keeps people poor. What the minimum wages does is says t hat if a person that has very little skills, and generally they’re young or they’re poor, you can’t hire them unless they can produce $7.25 worth of value, but it s not just that . It also has to compensate you [employer] for all the mandatory benefits and taxes and risks associated with hiring people.”
“And people that have no skills, its not just worth it to hire them … maybe $3 or $4 an hour, if that’s what they’re worth.”
Someone earning $3 an hour would take home about $100 a week. I’m sure many, many multi-millionaire/billionaire businessmen would be more than happy to pay $3 an hour. This would mean they could eliminate the cost of purchasing multi-million dollar manufacturing robots. Farmers wouldn’t have to spend millions on automatic picking machines, right?
However, this will only work if we totally eliminate all social programs (food stamps, Medicare, subsidized housing) that are paid by taxing millionaire “job creators” and that are aimed at helping these worthless folks.
Maybe standup comedian Peter Schiff will further his standup routine by arguing that all safety-net programs for the poor be tot ally eliminated. After all, if they’d be willing to work for $3 an hour, they wouldn’t be poor anymore, right?
Congrats Pet e; keep up the good work! We should let everyone know of your amazing record as a Accomplished Standup Comedian; you are far too humble.
The Dawg~
Folsom, California
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