Daily Show Mocks Peter Schiff for Supporting Scrapping Minimum Wage

STEWART: "Before all that can happen -- and I'm not so comfortable with this Executive Order thing, we should probably learn more about this minimum wage thing. Samantha Bee investigates."
[video clip]
BEE: "There's a philosophical discussion underway in America about the minimum wage. Some people like financial commentator Peter Schiff think increasing it could have devastating effects."
SCHIFF: "There's a law in economics, supply and demand. It's something you learn in Econ 101. As you increase the price of something you decrease the demand. And wages, that's the price of labor. The higher you make the minimum wage the more jobs are destroyed."
BEE: "I mean, you care about the poor?"
SCHIFF: "Of course, I do. I just acknowledge that government programs are trapping them in poverty."