Peter Schiff to Democrats: Who’s up for banning corporate profits?

posted at 9:51 pm on September 5, 2012 by Allahpundit

To cleanse the palate, a little fish-in-a-barrel fun with the regulars in Charlotte. His producer e-mails to stress that they deliberately avoided the tents outside the convention, where the radicals are camped out, so that they could get a more “mainstream” take. The result: Cluelessness leavened with a sprinkle of leftist dogma.

Elizabeth Warren’s set to speak in about 20 minutes. This ought to get you in the spirit.

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Comment pages: 1 2

IS the point of watching these people some sort of aversion therapy?

thatsafactjack on September 5, 2012 at 10:40 PM

More like taking Syrup of Ipecac …without the pleasant side effects and double the aftertaste.

Hi, Jack!

:Great, now the TSA and Homeland Sec. will be after me…:

BlaxPac on September 5, 2012 at 10:55 PM

Could he do a survey of limiting federal salaries to $60K ??

Now that would be interesting!

skeeterbite on September 5, 2012 at 11:02 PM

I wish I were selling “Cap Profits” caps to those goofballs in Charlotte.

Fallon on September 5, 2012 at 10:38 PM

Lol! Capitalist Profit Maker!!! ; )

Bmore on September 5, 2012 at 11:03 PM

How about a lifetime cap on federal largesse.

J_Crater on September 5, 2012 at 11:42 PM

Underpants Gnomes:

Step 1: Collect Underpants
Step 2: ???????
Step 3: Profit

DNC Gnomes:

Step 1: Ban Profits
Step 2: ???????
Step 3: Fairness

jpferman on September 6, 2012 at 12:07 AM

Peter Schiff to Democrats: Who’s up for banning corporate profits?

Sure thing. GE first.

Dr. ZhivBlago on September 6, 2012 at 12:22 AM

Peter Schiff to Democrats: Who’s up for banning corporate profits?

Schiff is such a buffoon… the kind of guy who enjoys running around bragging that he’s part of the 1%. In reality he’s just a trader, not anyone who’s ever built a business or actually made any serious contributions to the economy.

Anyone foolish enough to listen to his predictions after 2008 that the dollar would sink and US equities would falter lost their shirt. So much for his brand of successful capitalism.

bayam on September 6, 2012 at 1:02 AM

I weep that these people run the country.

goflyers on September 6, 2012 at 1:28 AM

bayam on September 6, 2012 at 1:02 AM

Do you even understand what’s currently propping the dollar up? Our day will come, be it sooner or later, but there’s an accounting that’s due.

whiskeytango on September 6, 2012 at 1:30 AM

Schiff is such a buffoon… the kind of guy who enjoys running around bragging that he’s part of the 1%. In reality he’s just a trader, not anyone who’s ever built a business or actually made any serious contributions to the economy.

Anyone foolish enough to listen to his predictions after 2008 that the dollar would sink and US equities would falter lost their shirt. So much for his brand of successful capitalism.

bayam on September 6, 2012 at 1:02 AM

Enough trolling.

1) He made the point that there’s nothing to be ashamed of being “in the 1%”.
2) He owns a brokerage and a precious metals company, which he took from nothing to multi-millions.
3) Steering capital is a vital function in the economy, but since you seem to subscribe to the surplus value theory of labour, I guess that doesn’t count.

4) Anyone listening to him before 2008 made a fortune along with him, anybody listening to him during 2008 and after not only remade everything in 2009, but made a fortune buying the dip in 2008 when the whole stock market crashed. Anyone listening to him 2009 and onwards has likewise made a fortune.
5) The US Dollar HAS SUNK since 2000, and even 2008, it just depends on what you measure it with. Measured in gold and oil, which Schiff advises people to buy, the dollar CRASHED since 2008 by 50% (Gold went from 800s to 1600s). If you compare the USD to other currencies, which Schiff is telling people to avoid unless absolutely necessary, and then only keep currencies like the CAD that went from $0.6 USD to $1 USD, you made a fortune in USD.
6) Finally, your last egregious lie, Schiff has been a bull on US equities (v.s. USD, and specifically those with foreign export markets) due to inflation of the US money supply (does QE ring a bell?).

ebrawer on September 6, 2012 at 1:45 AM

This blows my mind. They’re talking about destroying the free enterprise system that built this country. Yes, it is socialism, or communism, and there’s no sugar coating it, and with a couple of electoral victories they could actually get their radical ideas implemented. If this is the demographic future of our democracy, God help us. It’s time to circle the wagons. Those with strong enough intellects to know what’s at stake, they need to be with us, not against us. You can’t just keep fighting for the other side for your own opportunistic benefit, for what in effect would overturn our constitution.

anotherJoe on September 6, 2012 at 1:48 AM

Do you even understand what’s currently propping the dollar up? Our day will come, be it sooner or later, but there’s an accounting that’s due.

whiskeytango on September 6, 2012 at 1:30 AM

You’re asking a Democrat whether they understand economics. Of COURSE they don’t; if they did, they wouldn’t be Democrats.

The dollar is massively inflated and markets are being propped up by an endless series of bailouts. Schiff was right, but a few years too early.

Doomberg on September 6, 2012 at 4:15 AM

Anyone foolish enough to listen to his predictions after 2008 that the dollar would sink and US equities would falter lost their shirt. So much for his brand of successful capitalism.

bayam on September 6, 2012 at 1:02 AM

Why do you think gas has doubled in price?

talkingpoints on September 6, 2012 at 4:19 AM

You’re asking a Democrat whether they understand economics. Of COURSE they don’t; if they did, they wouldn’t be Democrats.

The dollar is massively inflated and markets are being propped up by an endless series of bailouts. Schiff was right, but a few years too early.

Doomberg on September 6, 2012 at 4:15 AM

Well, you’re either early or too late. In fact, being early on such important economic developments is just evidence of how good a grasp you have on the fundamental forces at play. Just nit-picking:)

ebrawer on September 6, 2012 at 5:26 AM

Ignorance on display

Its too bad we really aren’t 50 states running laboratories of Democracy.

I’d love to challenge these guys to a true test. Take your most liberal state and tinker with the invisible hand to hearts content trying to create Utopia – unrestricted by any opposition. We’ll runs strict constitutional state dumping all the 4th branch regulation.

Only rule is neither side can escape the state or 5 years.

See you then

Not-a-Marxist on September 6, 2012 at 7:31 AM

I concluded the Democratic Party was a socialist party, dominated by American neo-socialists, a long time ago. In the past they always tried to hide this. Now they are letting their pinko flag fly.

But just like with Obamacare, some corporations would be exempt from the “no profits” rule at the whim of an unelected Profits Czar. Companies like Microsoft, Apple, Facebook, etc. While oil company and Walmart practices and profits are obscene, no profit margin is too high for these admirable companies.

farsighted on September 6, 2012 at 7:40 AM

Ban corporate profits???

Are they really that stupid?

How about we require all federal officials, elected and non-elected, to work for free….in the pursuit of fairness ya know.

No Senators nor Representatives, no cabinet secretaries, no President or Vice President, no federal employee, none, get a single penny in pay. Mandatory ten-year prison sentence for any who accept as much as a free lunch from any private citizen.

All should be there solely for the benefit of mankind, for the noblest of reasons, the mere honor of having served.

Let’s see how that works out.

coldwarrior on September 6, 2012 at 8:06 AM

If half the country thinks like this, we are doomed.

Alabama Infidel on September 6, 2012 at 8:10 AM

Weapons grade stupidity

NoFanofLibs on September 6, 2012 at 8:12 AM

Ignorance on display

Its too bad we really aren’t 50 states running laboratories of Democracy.

I’d love to challenge these guys to a true test. Take your most liberal state and tinker with the invisible hand to hearts content trying to create Utopia – unrestricted by any opposition. We’ll runs strict constitutional state dumping all the 4th branch regulation.

Only rule is neither side can escape the state or 5 years.

See you then

Not-a-Marxist on September 6, 2012 at 7:31 AM

You do know you’ve just described California and New York, don’t you? Not to mention Illinois?

For a final report on your Gedankenexpriment, read any of Victor Davis Hanson’s recent columns over at PJ Media. The Dems have had unchallenged control of California for nearly fifty years. Just as they have controlled New York, and Illinois, especially Chicago.

The results have not been pretty, and in CA’s case, are reaching the Mad Max level. Of course, the enlightened ones in their coastal enclaves are well-insulated from the consequences of their own “enlightened” policy decisions. For now, that is.

The bills are coming due, and they can’t be paid with American Express.

clear ether

eon

eon on September 6, 2012 at 8:15 AM

It’s much, much worse than I thought……

redguy on September 6, 2012 at 8:27 AM

Peter Schiff is awesome. Check out when he went to Occupy Wall Street to debate the protestors, LOL:
http://reason.com/reasontv/2011/10/27/peter-schiff-represents-the-1

limitedgovt on September 6, 2012 at 8:29 AM

It’s not funny… it’s very very very scary.

mankai on September 6, 2012 at 8:38 AM

That these are Democratic party leaders is beyond words. Are we really going to let them continue to ruin our country? Vote. Them. Out.

GeorgieGirl9 on September 6, 2012 at 8:40 AM

eon on September 6, 2012 at 8:15 AM

no not really.. they can still escape when times get bad in order to infect another host ( state )…what it should be is no way out…you live with the garbage you force onto people and not flee when the time comes.

watertown on September 6, 2012 at 8:56 AM

bayam’s political soulmates are a lot of idiots.

Excellent response to bayam by ebrawer:

1) He made the point that there’s nothing to be ashamed of being “in the 1%”.
2) He owns a brokerage and a precious metals company, which he took from nothing to multi-millions.
3) Steering capital is a vital function in the economy, but since you seem to subscribe to the surplus value theory of labour, I guess that doesn’t count.

4) Anyone listening to him before 2008 made a fortune along with him, anybody listening to him during 2008 and after not only remade everything in 2009, but made a fortune buying the dip in 2008 when the whole stock market crashed. Anyone listening to him 2009 and onwards has likewise made a fortune.
5) The US Dollar HAS SUNK since 2000, and even 2008, it just depends on what you measure it with. Measured in gold and oil, which Schiff advises people to buy, the dollar CRASHED since 2008 by 50% (Gold went from 800s to 1600s). If you compare the USD to other currencies, which Schiff is telling people to avoid unless absolutely necessary, and then only keep currencies like the CAD that went from $0.6 USD to $1 USD, you made a fortune in USD.
6) Finally, your last egregious lie, Schiff has been a bull on US equities (v.s. USD, and specifically those with foreign export markets) due to inflation of the US money supply (does QE ring a bell?).

ebrawer on September 6, 2012 at 1:45 AM

Anti-Statist on September 6, 2012 at 10:44 AM

I guess I am an idiot for bringing this up……

Why would anyone want to start a company with the possibility of no profits?

Why would a company want to stay in business with the possibility of no profits?

What these people want is state owned & run companies….like what Hugo and Castro have.

Do they really want America to become a large Cuba?

Obama has already nationalized GM & Chrysler – and they are failing.

Obama has thrown billions in the toilet on “Green Energy”.

The democrats have Fannie Mae & Freddie Mac – responsible for sub-prime loans and
the 2008 bust.

The democrats have nationalized student loans and making college unaffordable.

ObamaCare will take over the healthcare industry and make it more expensive….

ObamaCare will destroy the insurance industry.

The EPA is now Obama’s pit bull to ram “Cap n Trade” through to make energy more expensive.

The energy & labor depts are used as Marxist tools to impose regulations on job creators.

What am I missing?

Soon small business in America will go the way of the family farms.

A distant memory of what America was.

redguy on September 6, 2012 at 11:01 AM

That these are Democratic party leaders is beyond words. Are we really going to let them continue to ruin our country? Vote. Them. Out.

GeorgieGirl9 on September 6, 2012 at 8:40 AM

I am afraid it will take more than elections to “solve” this problem.

redguy on September 6, 2012 at 11:03 AM

I wish Peter Schiff was our nominee this time out.

jpmn on September 6, 2012 at 12:23 PM

Leading question but interesting answers.

Is it too late to require passing a basic test in order to vote? You know, like one you take to drive a car or to own a gun? A test that tests basic competency? This could be one of the questions.

Let’s play 20 questions we could use in the test:

1. Republicans only cut taxes for the rich. Agree?
2. Republicans hate women and want to send them back to 1812. Agree?
3. Only Democrats care for the middle class? Agree?
4. Only Democrats care for the poor? Agree?
5. Only Democrats care for kids, especially poor kids? Agree?
6. Republicans are rich and out of touch. Agree?
7. Romney is mean. Agree?
8. Romney only cares about making money even if laying someone off leads to his wife’s death. Agree?
9. Romney is mean to dog. Agree?
10. Romney didn’t pay any taxes for 10 years. Agree?
11. Romney has money in the Cayman Islands and in Switzerland so he can cheat on his taxes. Agree?
12. Ryan is a liar because some partisan fact-checker says so. Agree?
13. Ryan is so mean that he will throw his own Grandma off a cliff. Agree.
14. Bill Clinton is a Saint. Agree?
15. Ted Kennedy was a Saint. Agree?
16. The media is not in the bag for Obama. Agree?
17. Fox News is evil. Agree?
18. Dick Chaney is evil. Agree?
19. Karl Rove is evil. Agree?
20. Everything is GW Bush’s fault. Agree?

billrowe on September 6, 2012 at 3:08 PM

Comment pages: 1 2