Failed Senate candidate and former Ron Paul adviser Peter Schiff calls himself an economist, but he’s actually a right wing ideologue masquerading under the fake ‘libertarian’ label. A perpetual fringe character who enjoys cable news pundit-status on Fox News, Schiff became slightly-famous for supposedly predicting the 2008 housing sector meltdown, but in reality Schiff’s rigid logic is matched by extremely flexible timetables that allow him to be “right” no matter how often he is wrong — which is almost all the time.
Though he is personally worth $70 million, Schiff’s policy prescriptions are as uniformly terrible and deranged as his investment advice. Schiff’s father Irwin, a famous tax protester, is currently in prison for tax evasion schemes that wouldn’t be out of place in a group of so-called ‘sovereign citizens.’ Peter still defends his father’s belief that the 16th Amendment was never properly ratified, a thoroughly-debunked libertarian historical revision that shows up all the time among fringe anti-government movements.
Since 2008, Schiff’s public statements have become ever-more outrageous in a bid to keep the spotlight on himself. Opposing health care reform in 2009, he said that Medicare had created a “culture of dependency;” in 2011, he organized a counter-protest of the 1% against Occupy Wall Street; then in 2012, Schiff declared that President Obama had “won the idiot vote.”
More recently, Schiff protested against the campaign to raise the minimum wage by pestering customers outside a Walmart, declared that the mentally retarded should be happy to work for $2 an hour, and supported the murders of Trayvon Martin and Michael Brown. That last data-point is important, because it reveals the ugly truth hiding underneath all of Schiff’s glib talking points about “liberty.”
Deep down, Peter Schiff doesn’t believe in freedom; he believes in power, and that it should be accumulated for oneself rather than shared with others. As you can hear for yourself in the above clip, his real dream is monarchy, where the riff-raff have no power because their social betters handle all the complicated business of owning everything for them. This is perfectly natural thinking for a person who regards taxation as “theft.”