Barry Ritholtz on The Daily Show

Jan 29, 2014
J. Webster
Comments Off on Barry Ritholtz on The Daily Show

Samantha Bee explores the devastating economic effects of raising the minimum wage to the poverty level. In one corner there was Peter Schiff, in the other, Barry Ritholtz. Sure, I know The Daily Show edits the video and shapes the story in a way they want, but wouldn’t Schiff know what he was getting himself into and try not to say anything idiotic. I mean come on, he had to know what The Daily Show was going to do…

And, really, would it kill some of these bigger companies like McDonald’s to pay a higher wage and have the executives earn a few less millions.

“There are a number of studies that have come out that show increasing the minimum wage actually improves the economy,” Ritholtz said. “If we raise people up to just $11 so they are at the poverty level, they’ll go out and spend that money on food and medicine.”

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