SchiffRadio Podcast Episode 10
The Peter Schiff Show Podcast
Peter Schiff
4.6 • 5.9K Ratings
🗓️ 31 October 2014
⏱️ 20 minutes
🧾️ Download transcript
Summary
Episode 10 Synopsis
Hillary's Fractured Economic Theory:
* Raising the minimum wage will create jobs.
* Businesses don't create jobs; the government creates jobs.
* Regan Economics "failed spectacularly".
* Clinton's economy was based on "arithmetic", not a bubble.
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Transcript
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| 0:00.0 | Well, Hillary Clinton was out giving a speech demonstrating why President Hillary Clinton |
| 0:15.1 | is such a dangerous combination of words. |
| 0:19.0 | And don't let anybody tell you that raising the minimum wage will kill jobs. |
| 0:26.1 | They always say that. |
| 0:27.8 | They always say it because it's true, right? |
| 0:30.5 | But she's saying it's not true. |
| 0:31.8 | And what is the proof that it's not true? |
| 0:33.7 | My husband gave working families a raise in the 1990s. |
| 0:38.5 | I voted to raise the minimum wage and guess what? |
| 0:42.0 | Millions of jobs were created or paid better and more families were more secure. |
| 0:49.2 | Well, so what? |
| 0:50.7 | Just because jobs were created and the minimum wage was raised, it doesn't mean that raising |
| 0:56.2 | the minimum wage was responsible for those jobs being created. |
| 1:01.1 | That doesn't logically flow. |
| 1:04.1 | It's bad logic to just assume two unrelated events and apply a causal relationship. |
| 1:11.8 | In fact, if anything, because her husband increased the minimum wage, fewer jobs were |
| 1:18.5 | created than would have been created. |
| 1:21.1 | But you can't say, well, I passed them in a wage and overall jobs weren't destroyed. |
| 1:26.5 | The minimum wage doesn't destroy all jobs. |
| 1:29.0 | It just destroys some jobs and it prevents other jobs from being created, right? |
| 1:34.8 | So how do you know? |
| 1:35.8 | How do you know how many jobs didn't get created because of an increase in the wage? |
... |
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