Your Government Will Break Your Legs - Peter Schiff & Mike Maloney P.3

[Miloman]

[youtube]http://www.youtube.com/watch?v=VP7zs5mFKa4[/youtube]

Listening to these to blow horns, geez.

On the one hand, employees are too expensive to employ. There's too much red tape, all laws favour them etc.
Then a few minutes later... the average person can't afford to live... previously the husband's single family could support the family, today both husband and wife need to work and they are struggling.

Oh the number of ironies and contradictions... what a joke!

 

[Phiber]

They are clowns making their money selling PM to naive people.

I haven't seen baloney make a video on a while to explain how the current price action fits in the great wealth transfer supposedly underway

And according to the video the barriers to entry in starting a new business are now very high...what a load of crap! It is pretty much the complete opposite.

Indeed - what a joke these 2 are!

 

[Nordmann]

Whereas I agree these two are salesman more than anything else, I don't think your example is a contradiction. What they are saying is that real wages for the average person is declining.

The reason it's expensive to hire people is all the added liabilities and costs, such as healthcare, litigation, taxes, etc. These things will of course take money out of both the employee and the employer, and make the US less competitive in the global economy.

The lobbyists working for big business to increase regulation and further complicate the taxcode are clear barriers of entry for new businesses.

These things are by no means exclusive to america, but it appears to happen (even) more rapidly there. Besides, both of these guys are old enough to have lived in the days when the US dominated the world economy thanks to a smallish government, and a relative lack of harmful regulations.

 

[Miloman]

Whereas I agree these two are salesman more than anything else, I don't think your example is a contradiction. What they are saying is that real wages for the average person is declining.

The reason it's expensive to hire people is all the added liabilities and costs, such as healthcare, litigation, taxes, etc. These things will of course take money out of both the employee and the employer, and make the US less competitive in the global economy.

The lobbyists working for big business to increase regulation and further complicate the taxcode are clear barriers of entry for new businesses.

These things are by no means exclusive to america, but it appears to happen (even) more rapidly there. Besides, both of these guys are old enough to have lived in the days when the US dominated the world economy thanks to a smallish government, and a relative lack of harmful regulations.

Completely disagree. Did you watch the video. They are beating up the average employee then saying they don't earn enough, complete contradiction. Listen carefully, not going to do a massive linguistic analysis on it.

On one point they are saying taxes are too high and entrepreneurs are the best thing since sliced bread and should be rewarded.

 

[hawkeye]

Listening to these to blow horns, geez.

They were pretty much dead-on. They talked about the lack of savings, how government favours debtors over savers and what the consequences of that are and how it makes people more dependent on the government.

On the one hand, employees are too expensive to employ. There's too much red tape, all laws favour them etc.

Well, it's pretty much true. Businesses are often too difficult or not worth it to setup. This results in less jobs overall and more competition for the existing jobs which using the law of supply and demand, reduces wages. More people competing for less jobs. Add all the regulatory burden and taxes on top of that and you have existing businesses having to get more out of the employees that they have just to survive. All leading to lower standards of living for the average person.

It's mostly unintended consequences of government but this is how it turns out when you try to force things.