Peter Schiff, the outspoken millionaire libertarian, took a moment to ride out from his fortress of wealth and privilege this week and sully himself in the presence of the underclasses. Schiff and a perpetually smirking sidekick staged a prank protest outside of an area Walmart, to mock the organized efforts calling for livable wages for the store’s employees, making sure to catch the entire spectacle on video for use on his personal propaganda channel “Schiff TV.”
Schiff, who made his millions after founding Euro Pacific Capital, an investment firm which helps investors move their money into foreign currencies, took to the parking lot of the Walmart with a sign, a donation box and a video camera, all with the intent of ridiculing the struggling workers, who are presently protesting across the country for the easily affordable wage (on average) of $15 an hour.
Using the bogus logic that a 15% increase in wages would directly equate to a 15% spike in prices, Schiff snidely accosted shoppers as they exited the store, asking for the 15% directly, stating it was for the Walmart workers. In typical fashion for a wealth-worshiping executive money changer such as himself, Schiff made the bogus assertion that Walmart’s wages were not only fair, but good, saying on his Youtube page that “Walmart is paying their workers more money than they could earn working anywhere else …”
Though this statement does nothing to address the realities that the low wages paid to the employees are neither enough to sustain them nor their families (often resulting in full time workers requiring food stamps and other public services just to make ends meet,) it does strike to another common theme often glossed over by economic elites such as Schiff. That, being the rapidly diminishing opportunities available to American workers in this increasingly corporate dominated, top-down economy.
Schiff is but the latest in a string of clueless wealthy classists to mock and question (to him) the invisible struggles faced by the masses beneath him. In a recent interview with The Daily Show, Forbes columnist John Tamny suggested that hunger didn’t exist in the U.S., and that if it did, private charity would step in to fill the gap left if programs like SNAP were eliminated.
In a previous shameless video blog from 2011, Schiff went down to Zucotti Park at the height of the Occupy Wall Street demonstrations, to proudly speak for and represent the 1% , attempting to persuade the protesters that socialism and government were to blame for the nation’s economic woes and not the free market capitalists such as himself.
The Walton family, who own Walmart, sit atop a vast fortune equal to that of the total wealth possessed by all of the lower 42% of Americans combined. Through exploitation both of cheap foreign production base labor, as well as exploitation of their rank and file employees, they have managed to amass a multi-billion dollar empire, which they intend to leave tax free to the next generations of Walmart nobility, through a series of clever estate tax loopholes.
In this, they have ensured not only the continued need for public assistance by their employees, but have managed to get out of paying for such themselves for generations to come.
Watch Schiff and his crew harass Walmart shoppers in an attempt to discredit the livable wage movement.