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Peter Schiff FULL Testimony Before Congress on Obama Jobs Bill 9/13/11

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September 14, 2011 – Comments (14)

14 Comments – Post Your Own

#1) On September 14, 2011 at 10:25 PM, L0RDZ (82.16) wrote:

When you're in a hole,  in order to get out... you should not dig... the hole deeper...

We need savings, but how can we save when they print money and  have  the saving rates negative... 

if not for  gov regulations imagine  how many more workers...

Doom and gloom...

 

good video so far... lets watch more..

 

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#2) On September 14, 2011 at 10:56 PM, L0RDZ (82.16) wrote:

OMG...  wish I could rec this 100 times...

 

 

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#3) On September 15, 2011 at 12:10 AM, reflector (< 20) wrote:

brilliant!

 peter schiff is DA MAN!

thanks for posting, kdakota630

 

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#4) On September 15, 2011 at 12:18 AM, EvilEmpire (29.54) wrote:

Schiff is one of the few that "get it".

 

Thanks. 

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#5) On September 15, 2011 at 4:29 AM, JackCaps (24.12) wrote:

Schiff's closing statement ...

Henry Ford was famous for paying his workers $5 a day. That was an ounce and a quarter at the time. Which, in today's exchange rate is $2,500 a week. So Ford's workers were making the equivalent of $2,500 a week, the equivalent. They were paying no federal income taxes and no payroll taxes. There was no minimum wage and there were no unions. We paid the highest wages in the world, yet we produced the best quality and least expensive products. How was that possible? Because we had the smallest government.  We had minimum regulations and low taxes. If we want to recreate American industry, we have to recreate that environment. We have to allow businesses to grow and prosper, and we have to remove all of the road blocks and impediments that Congress has placed in their path over the years.

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#6) On September 15, 2011 at 12:20 PM, L0RDZ (82.16) wrote:

Perhaps we should fire all the gov  and replace them with people who understand... 

 

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#7) On September 15, 2011 at 1:19 PM, L0RDZ (82.16) wrote:

SAdly those few who attended  on the  congressional side probably still don't get what Peter is saying  said...

Doom and gloom...

Amazing how  he needs to pay  more than one million just to ensure he is in compliance...  with what the gov  wants...

they want to control  not  help create jobs

sadly  these same fools just  cost us  half a billion on that solar company we back stopped with guaranteed loans ~~ you know the one that just went bankrupt..

I guess we should have loaned them a billion dollars... to keep them afloat longer...

sigh..

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#8) On September 15, 2011 at 1:59 PM, FleaBagger (29.21) wrote:

Mr. Cummings on why public school is worth any price: "If we have to spend now so we can educate our children so that they can take over this world.... fine."

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#9) On September 15, 2011 at 5:25 PM, selfdestruct2 (41.84) wrote:

kdakota, I look forward to your Peter Schiff blogs more than any other on TMF. Thanks

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#10) On September 15, 2011 at 5:30 PM, selfdestruct2 (41.84) wrote:

Jack, you've made so many great points. The federal government is way too big and powerful. So many bullsh... regulations and silly bills being passed all the time. It has to stop but I doubt that it will.

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#11) On September 15, 2011 at 6:45 PM, kdakota630 (29.46) wrote:

L0RDZ

Thanks!

reflector

Glad you liked it.  I thought it was one of his best.

EvilEmpire

Agreed.   At least it seemed to me that he wasn't just speaking to deaf ears.  Seems like a step in the right direction, even if it probably ends up being a very, very small step.

FleaBagger

I'm sure he feels the same way about a ton of other gov't spending projects, and I thought Peter's reply to him was fantastic.

selfdestruct2

Thanks.  I'm glad you're enjoying them.  I know there are a few people here who don't care for him (JakilaTheHun comes to mind), but I'm pretty sure there are enough people who appreciate them which is the main reason why I do them.  Plus it gives me my own personal archive as well to look back on if I need to.

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#12) On September 16, 2011 at 10:43 PM, kirkydu (93.74) wrote:

Schiff is over stating the tax issue.  While I believe and recently stated that the personal income tax code ought to be made permanent, the loopholes in the tax code need to be closed, i.e. corporate special interests and people claiming cap gains rates on what is really income from work.

I do agree we need higher interest rates.  That would finally bring the bottom to the housing market, encourage the ultimate reset to happen  and lead to renewed growth.  It would also lower the cost of food, gasoline and various imported goods via a stronger currency.  The only "loser" is short term government spending.  In the long run, the government has more tax revenue as the economy grows again after a few years. 

He's also right about regulations and liability that come with hiring.  I run my firm on myself and one good assistant.  Everything else is commissioned contractors and interns.  The cost of hiring is a big hurdle to small business.  There needs to be less onerous regs on small business- especially since that is where new hiring really does occur. 

Finally, there is no currency crisis coming in the short run, and probably not long run if the super committee cuts $4T minimum in spending and raises a $2-4T in revenue over the next decade. 

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#13) On September 19, 2011 at 12:57 PM, Frankydontfailme (27.20) wrote:

Reasonable point until your last one Kirk. Cuts 4 trillion (ehee)

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#14) On October 05, 2011 at 1:05 PM, kdakota630 (29.46) wrote:

I'm not sure that this matters, but since the original has been removed, I'm putting this up again from another source:

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