He scoffs at the idea of a job guarantee. Funny that he says “it’s free stuff” then they go into guarantor game income in exchange for work and surprise! he’s also against that. So, the only real job is working for capitalists carrying out their plans for personal profit. He claims the Soviet Union didn’t make anything so no one had anything. In reality, they were a very poor country and became a super power through central planning. But he’s so confused about what jobs the government could give anyone. Because apparently all of the things that are worth doing are also extremely profitable. Does anyone actually believe that? The jobs program in the New Deal essentially saved half the country from roiling in poverty. Giving this totally historically and economically illiterate religious capitalist a platform is just irresponsible. “What would they do?” What the fuck do you do? He serves no purpose, society needs artists and educators and massive infrastructure projects of the kind it hasn’t seen since the 50’s, it doesn’t need gold salesmen tricking people into thinking they’re better off if wages drop and poverty skyrockets because jobs are all that matters. It’s so transparent, he wants lower labor costs per unit, and that compounds the more you exploit people because the workers are producing the same value whether you consider them skilled or not, or whether you pay them a living wage or not.
He’s literally saying that skilled workers want the minimum wage because it means they can take the jobs of unskilled workers at higher prices. That implies that whether you have skills or not, you should be competing for jobs around the $10/hr mark, which is thoroughly insane. It also implies that there are fewer skilled workers but they’ll somehow be able to maintain the output of several unskilled workers that they replace. He’s dumber than dogshit. He’s essentially saying the minimum wage reduces labor costs by hiring fewer people at a higher rate, but if that were the case people like him would be for it. He’s pretending to care about having more jobs, all he actually cares about is lowering labor costs. Even if a reasonable minimum wage eliminated jobs, which it’s never done in the past and there’s no evidence for, it raises wages for tens of millions of people and is a massive boon to the economy, spurring growth and the creation of new jobs that actually pay a living wage. What Schiff wants is a race to the bottom, where businesses unable to pay a living wage aren’t subject to creative destruction, so wages never go up. That’s his dream because wages are just a cost that cuts into profit in his mind, he’s a sociopath.
4:20 The reason labor unions support raising the minimum wage is that it would help raise all wages. It improves the bargaining power of all workers. That’s why Schiff hates it, he’s a piece of shit. He doesn’t care about employment going up or down, he just cares about low labor costs, and every study on the minimum wage shows that it has no effect on employment levels…. but also that it prevents tens of millions of people from toiling in poverty. It’s very easy to fingerpaint a hamfisted fairy tale where it makes sense that everyone just has to get more skills, or else you can’t live, but that’s not the reality of labor markets. If everyone had the best skills, people would still have to work the worst jobs. Also, he has no skills so it’s very hypocritical. He’s proof that capitalism is arbitrary. This idiot fell ass backward into selling gold securities and found out that old people are very easy to trick. That’s not a skill. What we need next is a maximum wage so dipshits like this who stumble onto an economic exploit and just sit on it can’t delude themselves into thinking they actually understand how the economy works or whether Samoa’s economy was in fact destroyed.
This guy is dumb as fuck. It’s easy to do business in Singapore because it’s a client state for international business cartels, and the wages are exceptionally low. Schiff doesn’t understand any of this, but it comes down to whether you like wage slavery or believe in human dignity. Can’t have it both ways.
He scoffs at the idea of a job guarantee. Funny that he says “it’s free stuff” then they go into guarantor game income in exchange for work and surprise! he’s also against that. So, the only real job is working for capitalists carrying out their plans for personal profit. He claims the Soviet Union didn’t make anything so no one had anything. In reality, they were a very poor country and became a super power through central planning. But he’s so confused about what jobs the government could give anyone. Because apparently all of the things that are worth doing are also extremely profitable. Does anyone actually believe that? The jobs program in the New Deal essentially saved half the country from roiling in poverty. Giving this totally historically and economically illiterate religious capitalist a platform is just irresponsible. “What would they do?” What the fuck do you do? He serves no purpose, society needs artists and educators and massive infrastructure projects of the kind it hasn’t seen since the 50’s, it doesn’t need gold salesmen tricking people into thinking they’re better off if wages drop and poverty skyrockets because jobs are all that matters. It’s so transparent, he wants lower labor costs per unit, and that compounds the more you exploit people because the workers are producing the same value whether you consider them skilled or not, or whether you pay them a living wage or not.
He’s literally saying that skilled workers want the minimum wage because it means they can take the jobs of unskilled workers at higher prices. That implies that whether you have skills or not, you should be competing for jobs around the $10/hr mark, which is thoroughly insane. It also implies that there are fewer skilled workers but they’ll somehow be able to maintain the output of several unskilled workers that they replace. He’s dumber than dogshit. He’s essentially saying the minimum wage reduces labor costs by hiring fewer people at a higher rate, but if that were the case people like him would be for it. He’s pretending to care about having more jobs, all he actually cares about is lowering labor costs. Even if a reasonable minimum wage eliminated jobs, which it’s never done in the past and there’s no evidence for, it raises wages for tens of millions of people and is a massive boon to the economy, spurring growth and the creation of new jobs that actually pay a living wage. What Schiff wants is a race to the bottom, where businesses unable to pay a living wage aren’t subject to creative destruction, so wages never go up. That’s his dream because wages are just a cost that cuts into profit in his mind, he’s a sociopath.
4:20 The reason labor unions support raising the minimum wage is that it would help raise all wages. It improves the bargaining power of all workers. That’s why Schiff hates it, he’s a piece of shit. He doesn’t care about employment going up or down, he just cares about low labor costs, and every study on the minimum wage shows that it has no effect on employment levels…. but also that it prevents tens of millions of people from toiling in poverty. It’s very easy to fingerpaint a hamfisted fairy tale where it makes sense that everyone just has to get more skills, or else you can’t live, but that’s not the reality of labor markets. If everyone had the best skills, people would still have to work the worst jobs. Also, he has no skills so it’s very hypocritical. He’s proof that capitalism is arbitrary. This idiot fell ass backward into selling gold securities and found out that old people are very easy to trick. That’s not a skill. What we need next is a maximum wage so dipshits like this who stumble onto an economic exploit and just sit on it can’t delude themselves into thinking they actually understand how the economy works or whether Samoa’s economy was in fact destroyed.
This guy is dumb as fuck. It’s easy to do business in Singapore because it’s a client state for international business cartels, and the wages are exceptionally low. Schiff doesn’t understand any of this, but it comes down to whether you like wage slavery or believe in human dignity. Can’t have it both ways.