CEO tells Daily Show ‘mentally retarded’ could work for $2: ‘You’re worth what you’re worth’
http://www.rawstory.com/rs/2014/01/29/ceo-tells-daily-show-mentally-retarded-could-work-for-2-youre-worth-what-youre-worth/CEO tells Daily Show mentally retarded could work for $2: Youre worth what youre worth
By Travis Gettys
Wednesday, January 29, 2014 8:33 EST
Would increasing the minimum wage leave the most vulnerable workers with fewer jobs? Financial commentator Peter Schiff thinks so.
The investment broker and talk radio host told Daily Show correspondent Samantha Bee that lifting the minimum wage to $10.10 per hour, as President Barack Obama announced he would do by executive order for federal employees, could have devastating effects.
Theres a law in economics, supply and demand, that you learn in Econ 101, and if you increase the price of something, you decrease the demand, Schiff said. The higher you make the minimum wage, the more jobs are going to be destroyed.
The CEO of Euro Pacific Capital argued that government programs, not low wages, were trapping Americans in poverty, and claimed that paying workers twice as much would double the cost of some goods such as fast-food hamburgers.
Turbineguy
(37,206 posts)on people loosing their homes. This is like Jeffrey Dahmer on "How I make friends". Or Ted Bundy on "Why I like women".
He's a piece of shit.
JustAnotherGen
(31,681 posts)This is from 2011 unhappy -
But I think you will *get* it -
http://blogs.wsj.com/wealth/2011/01/12/whos-buying-all-that-luxury-not-the-rich/
I work in wireless - and have been in Telecom for years. I was still on my Marketing path at the time that was written - now in Finance in wireless - same company.
If you make it "luxe" people want it more. You'll get a more committed and loyal producer if you pay them more. And then they can buy more "stuff".
liberal N proud
(60,298 posts)The rich do not think that we were all created equal.
In their eyes, the haves are better than the have-not's regardless of how they got theirs.
More of the rich whining because they are being called out for the lopsided system.
BeyondGeography
(39,276 posts)trishtrash
(74 posts)I have a developmentally disabled relative who has pumped gas, mopped floors and mowed lawns, did those jobs well, and was proud of his work. Why should he be paid less?? This is the same sick reasoning that is being used to justify unequal pay for women.
clydefrand
(4,325 posts)GOODWILL pays. They only pay the handycapped about $0.11 and hour ( that IS ELEVEN CENTS PER HOUR)