Peter Schiff on his run for Senate & the evils of minimum wage laws

Schiff says that they'll change the web site to accept donations, for now all we can do is add our addresses to his mailing list.

"The contrast between insouciant America and serious China today is instructive. China is protectionist; America free trade. China is nationalist; America globalist. China’s economy is export-driven; America’s base is consumption. China saves; America spends. China uses its foreign exchange to lock up overseas resources; America uses foreign aid for humanitarian assistance to failed states. Behaving like ruthlessly purposeful 19th-century Americans, China grows as America shrinks."

http://www.takimag.com/ar...

You might be incorrect in that assumption. Lets say you are a landlord but your pool of prospective tenants cannot afford your rent - you will lower it until someone rents it.

i was thinking the same thing - but then i read Schiff's article "Minimum Wage, Maximum Stupidity" and he does a great clearing it up:

"...many low-skilled jobs that used to be the first rung on the employment ladder have been priced out of the market. Can you remember the last time an usher showed you to your seat in a dark movie theater? When was the last time someone other than the cashier not only bagged your groceries, but also loaded them into your car? By the way, it won’t be long before the cashiers themselves are priced out of the market, replaced by automated scanners, leaving you to bag your purchases with no help whatsoever.

The disappearance of these jobs has broader economic and societal consequences. First jobs are a means to improve skills so that low skilled workers can offer greater productivity to current or future employers. As their skills grow, so does their ability to earn higher wages. However, remove the bottom rung from the employment ladder and many never have a chance to climb it."

he continues,

"..Supporters of the minimum wage argue that it is impossible to support a family on the minimum wage. While that is true, it is completely irrelevant, as minimum wage jobs are not designed to support families. In fact, many people earning the minimum wage are themselves supported by their parents.

The way it is supposed to work is that people do not choose to start families until they can earn enough to support them. Lower wage jobs enable workers to eventually acquire the skills necessary to earn wages high enough to support a family. Does anyone really think a kid with a paper route should earn a wage high enough to support a family?"

while i agree 100% with Schiff on this; i think to give the incentive for young chillren to work and grow their skills, there must be a gold standard. i mean i would definitely encourage my (future) kid to work a low-wage job if he was getting paid in gold instead of these Federal Reserve Notes... they're shit :(

we got this...

that the money come from within the districts. Money alone does not mean a win. Money from within a district means votes. More important than money is doing something to spread the word in the districts. Money helps do that, but so does time spent in some mailing or calling project.

You might be right but why is Kentucky the cheaper race? Connecticut is smaller in land and population than Kentucky. Connecticut is a more expensive state to live but it has fewer TV stations, radio stations and newspapers.

Ron Paul's Convention Speech

When is the first money bomb good for everyone??

has such an impact today is because he consistently and persistently told the absolute truth in a clear way understandable to the average person. The media blackout hurt us; most people couldn't hear the message. But those that did slowly grew into a force for freedom, with many working every spare moment to spread the message through the grassroots.

Freedom candidates are now getting some press because the ground has been prepared already by Paul and supporters; and because sound money forecasts are looking more believable due to the Bush/Obama failures.

Not just in our country, but the whole world now has access to the ideas of freedom, presented clearly, honestly, with specifics by Paul, the Austrians, etc. Using dishonest, evasive, pandering tactics as the fascists do would destroy us.

We have the moral high ground, believability, and common sense. If we gain mainstream momentum it will be due to our credibility and appeal to the practical and idealistic together.

His father's 16 year sentence for income tax evasion???

Sheldon Waxman
sheldonw72@gmail.com
www.independentcontractor...

Well if a business opens up that pays their servers less than $15/hr- food will be cheaper and that business would win out. Has this never happened in switzerland?

You're wrong. A business cannot overpay its workers for long periods of time. A bunch of workers can't be paid $100 an hour for producing $10 an hour average of revenue. A private business would go bankrupt (run out of money) very quickly doing that. And if you think executives overpaying themselves at the expense of their workers' wages is problem, I gaurantee you that a business which has that will lose marketshare to a business that doesn't, because the business that doesn't will be able to offer lower prices or buy more workers/equipment. Look at all the companies that WOULD have gone bankrupt from overpaying their employees and themselves the past year. The market would have flushed them out, but the government seized money from productive individuals to keep them afloat longer.

"People paying workers less than what they need to eat is the problem."

If the worker feels they are not getting paid enough then they can inquire about a raise or move on to another job.Keeping wages low isn't a good way to keep workers that excel in their job,thus you have a revolving door of constantly new employees,slow production and unhappy workers.If this company could somehow make an agreement with the government to keep competition or other businesses from establishing in this area,than they have a monopoly over the people,unless those people relocate.The problem here is the government showing favoritism to the detriment of the people in the area.

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"...we are face to face with the problem whether ours is a government under a written constitution and the laws made pursuant thereto, or whether it is a government by ambitious and usurping men.'" -- F.Pierce

See The Virtue of Greed by Walter Williams.

So are what you call "illegal" workers! They allow a business owner to pay less in salaries, making their business more profitable.

No- the problem is the purchasing power of the currency, that's why people can't afford to eat on a few dollars. People pay workers whatever they agree to work for- illegal workers don't "artifically" keep pay low, where'd you come up with that?

Administrators and management types get paid for a reason- just because you think they don't do work that's important doesn't make it true. If a company is seriously paying a lot of money to management types that don't do any work- they will go under, simply put. Outside of government intervention of course.

That's not a good reason to oppose immigration. If people want to work for lower wages, they should be allowed to. The problem with immigration is the ones that want to come here for free socialist stuff, not the ones who come here to work.

Tracy