Daily Show Mocks Peter Schiff for Supporting Scrapping Minimum Wage

but before all that ░░░░░░░░ happen laughter and i ░░░░░░░░ not so comfortable with ░░░░░░░░ executive order thing we ░░░░░░░░ probably learn more about ░░░░░░░░ minimum wage thing samantha ░░░░░░░░ investigates there s a ░░░░░░░░ discussion underway in America ░░░░░░░░ the minimum wage some ░░░░░░░░ like financial commentator Peter ░░░░░░░░ think increasing it could ░░░░░░░░ devastating effect there s ░░░░░░░░ law in economics supply ░░░░░░░░ demand it s something ░░░░░░░░ learn in econ101 as ░░░░░░░░ increase the price of ░░░░░░░░ you decrease the demand ░░░░░░░░ that s the rice ░░░░░░░░ labor the high price ░░░░░░░░ labor the higher you ░░░░░░░░ the minimum wage the ░░░░░░░░ jobs you care about ░░░░░░░░ poor of course i ░░░░░░░░ i just acknowledge that ░░░░░░░░ programs are trapping them ░░░░░░░░ poverty why have one ░░░░░░░░ for 15 dollars an ░░░░░░░░ when you could have ░░░░░░░░ jobs for 7 50 ░░░░░░░░ hour would you rather ░░░░░░░░ that or pay twice ░░░░░░░░ much for your burger ░░░░░░░░ do like to taste ░░░░░░░░ tears of poverty in ░░░░░░░░ milkshakes i couldn t ░░░░░░░░ to discuss these with ░░░░░░░░ world fast food workers ░░░░░░░░ for higher wages if ░░░░░░░░ raise the minimum wage ░░░░░░░░ the market will adjust ░░░░░░░░ everybody is going to ░░░░░░░░ purchasing power we cannot ░░░░░░░░ the bear minimum if ░░░░░░░░ could keep this out ░░░░░░░░ personal realm these fast ░░░░░░░░ workers looking at things ░░░░░░░░ their personal experience goggles ░░░░░░░░ found it so hard ░░░░░░░░ explain the complex economic ░░░░░░░░ to those desperate people ░░░░░░░░ you ever go to ░░░░░░░░ and burger king i ░░░░░░░░ t eat them therebut ░░░░░░░░ don t seem desperate ░░░░░░░░ hungry to me the ░░░░░░░░ teens with teen high ░░░░░░░░ they are just teens ░░░░░░░░ a goof this is ░░░░░░░░ for you you are ░░░░░░░░ teenager just making some ░░░░░░░░ money to throw around ░░░░░░░░ party with i actually ░░░░░░░░ five siblings that i ░░░░░░░░ to support this is ░░░░░░░░ harder than i thought ░░░░░░░░ how would you tell ░░░░░░░░ 48 year old man ░░░░░░░░ a bachelor s degree ░░░░░░░░ works full time in ░░░░░░░░ food that he is ░░░░░░░░ entitled to a living ░░░░░░░░ you are creating a ░░░░░░░░ call wage hypothetical situation ░░░░░░░░ doesn t exist i ░░░░░░░░ 48 years old i ░░░░░░░░ a college degree couldn ░░░░░░░░ find a job due ░░░░░░░░ the economy putting a ░░░░░░░░ to people on supply ░░░░░░░░ demand graphs is really ░░░░░░░░ thank goodness the economic ░░░░░░░░ on how the minimum ░░░░░░░░ destroys jobs are iron ░░░░░░░░ author and equities analyst ░░░░░░░░ there are a number ░░░░░░░░ studies that show increasing ░░░░░░░░ minimum wage actually improves ░░░░░░░░ economy shut the bleep ░░░░░░░░ laughter we raise people ░░░░░░░░ just 11 so they ░░░░░░░░ at the poverty level ░░░░░░░░ ll go out and ░░░░░░░░ that money on food ░░░░░░░░ medicine sure that sounds ░░░░░░░░ except for one simple ░░░░░░░░ captist economy it s ░░░░░░░░ that creates scarceity in ░░░░░░░░ free market there s ░░░░░░░░ of food for everybody ░░░░░░░░ the poor the fact ░░░░░░░░ people in the economy ░░░░░░░░ not hungry is all ░░░░░░░░ proof you need that ░░░░░░░░ market capitalism is the ░░░░░░░░ lots of people working ░░░░░░░░ time for profitable companies ░░░░░░░░ wal mart and McDonalds ░░░░░░░░ food stamps and welfare ░░░░░░░░ they can t afford ░░░░░░░░ feed their kids McDonalds ░░░░░░░░ wal mart are the ░░░░░░░░ welfare queens out there ░░░░░░░░ they are taking advantage ░░░░░░░░ the safety net in ░░░░░░░░ to capture more profits ░░░░░░░░ lower their costs as ░░░░░░░░ turns out the fast ░░░░░░░░ industry alone costs taxpayers ░░░░░░░░ 7 billion a year ░░░░░░░░ public assistance to their ░░░░░░░░ it s practically miss ░░░░░░░░ mart when it comes ░░░░░░░░ the economy it s ░░░░░░░░ country s founding principles ░░░░░░░░ matter if we eliminate ░░░░░░░░ minimum wage law individuals ░░░░░░░░ be free to accept ░░░░░░░░ at whatever pay they ░░░░░░░░ get paint me a ░░░░░░░░ whose work is worth ░░░░░░░░ an hour maybe somebody ░░░░░░░░ is what is the ░░░░░░░░ correct word for you ░░░░░░░░ mentally retarded what is ░░░░░░░░ new okay i believe ░░░░░░░░ the principles that the ░░░░░░░░ was founded on but ░░░░░░░░ m not going to ░░░░░░░░ that we re all ░░░░░░░░ equal you are worth ░░░░░░░░ you are worth just ░░░░░░░░ our founding fathers said ░░░░░░░░ are worth what ...