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Investor Peter Schiff digs himself in deeper after ‘Daily Show’ remarks about the ‘retarded’

By Tom Boggioni
Thursday, January 30, 2014 18:43 EDT
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Radio commentator and investment adviser Peter Schiff , who was recently interviewed by The Daily Show’s Samantha Bee for a segment on the minimum wage, is very upset that he has been pilloried for using the not very politically-correct expression “mentally retarded” on air. During the episode, when prodded by Bee to explain who might be willing to work for $2 an hour, Schiff responded,  “You know someone that might be? Maybe someone who is – what’s the politically correct word, you know, for mentally retarded. I believe in the principles this country was founded on.”

Responding to public criticism about his star turn, Schiff has taken to his blog to express his displeasure with The Daily Show by pointing out that that Samantha Bee didn’t assist him with his answer and that he had delivered a four hour long disquisition on the free market and pay rates that somehow didn’t make it onto the half-hour long  satirical news program.

Mr. Schiff  pointed out that  “Of the more than four hours of taped discussion I conducted, the producers chose to only use about 75 seconds of my comments. Of those, my use of the words ‘mentally retarded’ (when Samantha Bee asked me who might be willing to work for $2 per hour – a figure she suggested) has come to define the entire interview.” He then added,  “I just couldn’t remember the politically correct term currently in use (it is “intellectually disabled”). Assuming she knew it, Bee could have prompted me with the correct term, but she chose not to.”

Mr. Schiff then went on to further clarify that there were were two groups who would probably be happy to work for $2 an hour: the more appropriately named ” intellectually disabled”  and  “…unpaid interns who tend to value work experience and connections more than pay. ” He then pointed out that the Daily Show staffer who booked him for the show and attended the interview had  “… been thrilled to start there as an unpaid intern.”

Turning back to the “intellectually disabled”, Mr. Schiff added that if they “…can’t perform work that produces a minimum wage level of output, then no employer seeking to make a profit could afford to pay that person the official minimum wage. ” and that “Many of the jobs they perform may seem mundane to those of normal intelligence, but they are often the most enjoyable and rewarding aspects of the lives of people with intellectual disabilities. I pointed out that if the federal minimum wages were to apply to them, a great many of those opportunities would vanish. Others may disagree, but I believe a job for such a person at $2 per hour is better than no job at all.”

This is similar to Mr. Schiff’s comments that did air on The Daily Show where he stated “Eliminate the minimum wage law, then individuals would be free to accept jobs at whatever pay they were able to get.”

 
 
 
 
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