A Libertarian vision for America – ‘This CEO Wants To Pay ‘Mentally Retarded’ People $2 Per Hour’
‘Peter Schiff, who is CEO of Euro Pacific Capital, and who also hosts a radio show where he shares his libertarian ideas on finance and the economy, has a history of attacking those who support raising the minimum wage’.
‘He starts out with the time honored conservative argument that raising the minimum wage will “destroy jobs.”
‘Then it gets bizarre’.
“Why have one job for $15 an hour, when you could have two jobs, for $7.50 an hour?” Schiff asks her “Would you rather do that, or pay twice as much for your burger?”
‘That is a huge theme with opponents of a minimum wage hike’.
‘They want to plant the idea in everyone’s head that doubling the minimum wage will result in doubling of prices of popular products’.
- ‘That claim is completely false’.
‘Take McDonalds. In Australia, where the minimum wage is $17.05, or almost $15 in U.S. currency, a Big Mac costs $4.94. That’s about $4.32 in American dollars. In the U.S., a Big Mac costs $4.20’.
‘Schiff offers the classic libertarian idea of a “fair” minimum wage’.
“If we eliminate the minimum wage law, then individuals would be free to accept jobs at whatever pay they are able to get”.
‘Schiff saves the most incredible comment for last’.
‘Bee asks him to describe a person whose work would be worth $2.00 an hour’.
‘Schiff says “You know somebody who might be?” He then fumbles around looking for a description, before asking Bee “What’s the politically correct word for ‘mentally retarded?’”
From : http://www.addictinginfo.org/2014/01/29/ceo-minimum-wage-mentally-retarded-2/