Peter Schiff schools Occupy Wallstreet *******s

[TehHoneyBadger]

So you wouldnt bust your ass for a job that pays 20% more than your current job even if it was 30 cents on the dollar?

Strong understanding of basic mathematics

[DriftParty]

****ing lulz. Did anyone catch that guys epic bertstare at that dumb broad who claims to be a 1%er and said she would rather pay 50% in taxes over 10% at around 16:20 Lolololol

urine idiot, he was actually agreeing with a lot of what the protests are about; end the fed, corrupt banking system, etc.

the only difference is he supports capitalism

Isn't that the whole idea? He went into it saying he really does agree with them on some things. He was just exploiting the fact that most of them have not a single clue what they are talking about or what they truly think they deserve.

[Bnk]

Not exactly, though they'd have you believe that. They might be forking over 85% of the total money, but they're contributing the lowest percentage of their income. So taxing 3% on a guy making 10 million a year compared to 40% on a guy making 30k a year, yea, the millionaire is contributing "more money".

Pathetic ignorance like this is problem with the OWS movement. Schiff actually supports many of the sentiments of the movement but is exposing the fact that OWS is targeting the wrong group. Dip$hits like the poster quoted above need to look beyond the libtard catch phrases, do a little research and direct their anger at the real culprit.

[mk.ultra]

Isn't that the whole idea? He went into it saying he really does agree with them on some things. He was just exploiting the fact that most of them have not a single clue what they are talking about or what they truly think they deserve.

I guess, it just seems like OP thought Schiff was anti-Occupy

[USMCkang]

You guys have to realize this video was probably heavily edited to favor Schiff obviously. If you seriously take a side just from watching this video that is unfair.

What Schiff never explains is with all this money corporations are making and receiving what are they really doing with the money? His response is along the lines of "creating more jobs" blah blah insert generic rebuttal.

If this was the case why did GE make 14 billion last year, pay 0 taxes, gain another 3 billion in refunds from the IRS then lay off 16k employees and hire new employees in other countries? PROFIT.

If you think corporations care about your job security or care for you as a human being you are ****ed.

Granted not all corporations are bad, a lot of small-medium sized businesses care for their employees, its the larger corporations that are power hungry. I'm surprised GE isn't a monopoly or maybe it is I haven't looked.

Here's where you're wrong

1) GE made 14 billion, and to avoid corporate taxes what did they do? They paid their CEO, and all their execs more money.. and they in turn got taxed. Or let's say they retained the earnings, the stock price would adjust, and the ensuing sell-off and purchases of their stock would have been taxed. Just because they didn't write a check to the government doesn't mean they weren't taxed.

2) Why do you think they laid off 16k employees in the US, and hired em offshores? Hello... it's b/c of all the regulations, taxes, and demands the government places on corporations that makes it too EXPENSIVE for them to keep the 16k workers here.

Now, let's say we KEPT those 16k workers, and GE was taxed for all of their earnings, and as they paid their employees, there was more tax taken from them, etc..

Go downstairs, look at your washer. Try paying 10k for that, instead of 2k

Look at your iphone, 200$ with a 2 year plan? Try 1000$, with a 2 year plan only the "1%" could afford it.

These people need to march on Washington. Although, I somewhat disagree with Schliff, b/c I truly believe TARP was required. If the government did not approve TARP, you'd have way more protests going on right now, and to be quite honest, to back all the 'lost' deposits the government would be on the brink of default.

COME at me 99%

[Armord]

Schiff signs 150 paychecks a week. It would take nothing for walmart or google to walk in, buy out his entire staff, take over what ever sh*tty little business he runs and then send that guy to the soup line.

Will they do that? no probably not. Is it possible? yes. That is the problem.

[Armord]

2) Why do you think they laid off 16k employees in the US, and hired em offshores? Hello... it's b/c of all the regulations, taxes, and demands the government places on corporations that makes it too EXPENSIVE for them to keep the 16k workers here.

It is not too expensive. They chose to lay of US workers because they wanted a fatter wallet.

These CEO 10k a day types don't give two fuks past putting their great great great great great grand children through college. And by great great great great great grand children, I mean they like to sign onto their wells fargo account and see big ass numbers.

[USMCkang]

Schiff signs 150 paychecks a week. It would take nothing for walmart or google to walk in, buy out his entire staff, take over what ever sh*tty little business he runs and then send that guy to the soup line.

Will they do that? no probably not. Is it possible? yes. That is the problem.

You serious?

If you know anything about how m&a works it's that if a business is profitable, the 'goodwill' value added could put Schiff, and pending it's a corporation, all of his workers with shares of the company into the 1% overnight. Provided it's not, corporations are not on the prowl to buyout their competition. If anything, there are rules and regulations in place that makes America such a healthy economy to 'compete' in. Speaking for the current workforce, this isn't entirely true, but what you have to understand is that the reason manufacturing jobs are NOT in America today is not GREED.

If you owned a company, and some ******* in the White House told you next week you had to now, pay for your BRAND new worker's surgery he's having next week, and for the ambulance bill for his kid's cut thumb, then you had re-do all of the machinery and bullsh!t b/c it wasn't up to proper 'government' standards, would you REALLY keep hiring people here? It has absolutely nothing to do with greed: honestly, you'd have 2 options to keep your business afloat. Raise the prices on all the products you're making, or outsource your jobs to a country that has minimal regulations.

Capitalism is here so that businesses can compete freely - the climate, however, is determined by the gov.

[themiscson]

Schiff signs 150 paychecks a week. It would take nothing for walmart or google to walk in, buy out his entire staff, take over what ever sh*tty little business he runs and then send that guy to the soup line.

Will they do that? no probably not. Is it possible? yes. That is the problem.

schiff runs euro pacific capital.. i doubt walmart could or will buy him out.. Urine an idiot and your mad

[TylerO]

I hate military people that feel they are entitled to something.

That homeless bum can eat a dick.

This is coming from a Marine.

[TheDude1987]

i support peter schiff and OWS.


wat do?

Well, Schiff also supports its it, more or less, so...

Basically this video just calls out the stupid people drawing attention away from OWS's core message.

The people ITT saying "ooohhh OWS owned!!!" are just demonstrating how stupid they are. Schiff is there to educate the misinformed within the group, which has been the biggest criticism of the movement as a whole.

[Dan916]

15:35 get owned 99%er lol.

[nevake]

People seem to forget that total tax revenue encompasses more than just income tax. While the rich pay the majority of the income tax, you have to take into account the other areas of taxation where the rich are paying less.

[Sodao]

seems less like he's "owning" them and more like he is just helping to refine their points...he seems to agree that there is a problem, he is just telling them what he thinks should be addressed.

[BuckNakedinBama]

Didn't say he "owned" them. I said he "schooled" them. School = a place of education.

[Sodao]

Didn't say he "owned" them. I said he "schooled" them. School = a place of education.

well yeah...but how do you think everyone else sees this video?

[Goat_187]

By our current administration's definition of "rich," the vast majority of those "rich" are small business owners. Small business owners are much more sensitive to tax rates because let's be real: many small business barely make a profit. If I am a small business owner and I employ 50 people, and my tax rates (both corporate and income, as these protesters would have raised) suddenly increased by 10%, that is 10% of my company's income that is gone with the wind. Did you know that the average restaurant (and I am only talking about successful restaurants here) makes less than 10 cents on the dollar? If 10% of all revenue suddenly went out the window, that sub 10% profit suddenly becomes a small loss. Small businesses cannot continually operate at a loss, or they will pave their own way to bankruptcy.

He brings up a good point that isn't emphasized enough about people like Warren Buffett. Buffett's proclamations are a load of ****, truth be told. All he talks about is how the rich should pay more taxes, the rich should pay more taxes, the rich should pay more taxes. Well, talk is cheap. You keep talking about how you only pay 15% or whatever to the IRS, and that you should be paying more... well, no one is stopping you. A man like Warren Buffett will talk all day about how he should be paying more taxes and how the government should create legislation ensuring that rich people do so, but at the end of the day, he isn't putting his money where his mouth is.... literally.

The problem with the 99% protest is that 99% of those 99% are uneducated about the issues that they are protesting. I'm not saying I'm more educated than they are, but if they took the time to step back and evaluate what they are saying, many of them would realize that many of the changes they want to implement have been implemented in the past, in this country, outside of it, or on a smaller scale, and have failed.

The issue isn't the employers. The issue lies with the employees. There is a defined "poverty line," in the United States. However a large portion of those below the poverty line buy a $2000 television, when a television for a quarter of the price would have sufficed. They are buying soda and cheetos with their food stamps, when that money could have gone toward food that is more nourishing nutritionally (not to mention, if they bought more raw products they could single handedly stabilize a flailing agriculture industry). And those with food stamps are walking into the stores with Jordans and gold and silver jewelry. And don't think that's a generalization. I worked as a cashier all through high school, and rang up thousands of people with food stamps. And 9 out of 10 had clothes on that cost more than the clothes I wear. And my family doesn't receive welfare.

If people want change, they need to evaluate the way they are living, plain and simple. The average American thinks they are poor because they can't afford the new iPhone.



This is poverty.

]

im not chinese or a math major but if a restaurant made a profit for 10 cents on the dollar and their taxes went up by 10 percent they will be getting taxed and extra penny and still making 9 cents on the dollar.

[jjcooney]

Strong understanding of basic mathematics

you know you have douchebag friends when they bother your cod game to answer **** like this. when they shouldnt be on my account anyway

Ok

say you have a job that pays 100 dollars a week today

you get a new job that pays 120 dollars a week

this new job only pays 30 cents on the dollar

use your head

now the real question is your first job you paid no taxes right earned 100 keep 100

new job earn ? and keep 30 cents on the dollar which = 120 what did you pay in taxes

get it now einstein

[ummmmm0k]

you know you have douchebag friends when they bother your cod game to answer **** like this. when they shouldnt be on my account anyway

Ok

say you have a job that pays 100 dollars a week today

you get a new job that pays 120 dollars a week

this new job only pays 30 cents on the dollar

use your head

now the real question is your first job you paid no taxes right earned 100 keep 100

new job earn ? and keep 30 cents on the dollar which = 120 what did you pay in taxes

get it now einstein

First of all, I'm going to say that this situation is null and void because it has nothing to do with the situation laid out in the vid.

The video says, after $2million, anything else you earn will be taxed at 70%.

So if you have already earned $2million in a couple months, it would not affect you to take the rest of the year off instead of busting your ass for 30 cents on the dollar. You could take the rest of the year off and go vacation. Or have a home in another country with the same business over there, and just live the rest of the year in that country doing your work there making much more than 30 cents on the dollar. If you were to cap income at 2million, or at all, and then tax at absurd levels for money earned over that cap, then you will just drive jobs/businesses out of this country.

[jjcooney]

First of all, I'm going to say that this situation is null and void because it has nothing to do with the situation laid out in the vid.

The video says, after $2million, anything else you earn will be taxed at 70%.

So if you have already earned $2million in a couple months, it would not affect you to take the rest of the year off instead of busting your ass for 30 cents on the dollar. You could take the rest of the year off and go vacation. Or have a home in another country with the same business over there, and just live the rest of the year in that country doing your work there making much more than 30 cents on the dollar. If you were to cap income at 2million, or at all, and then tax at absurd levels for money earned over that cap, then you will just drive jobs/businesses out of this country.

I understand your point, I was talking to the other guy. I knew from your first post you understood what I was trying to get across.

But say that extra 20% or whatever I said 40% you could buy a house or help your family. Most people live paycheck to paycheck. So they would take the raise even if most of it were going to taxes. I didnt watch the vid

[BuckNakedinBama]

Bump to spread knowledge.

[jafomofo]

Bump to spread knowledge.

where is it? this thread is full of shocking ignorance. even bnk who is usually a sharp guy just resorted to name calling. miscers gonna misc i guess.

[bloodymarvelous]

i watched the 1 hr 40 min video last night. good stuff.
retards guna retard