+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

Wall Street Guy Goes To Wal-Mart To Mock Protesting Workers [VIDEO]

Dec 18, 2013, 00:32 IST

There's been a growing number of protests and demonstrations at Wal-Mart as workers demand higher wages. So libertarian investor Peter Schiff - who believes Wal-Mart is under no obligation to pay its workers a dime more - went to Walmart and staged an absurd, fake version of their rally in an attempt to prove his point.

Advertisement

Schiff, the founder of Euro Pacific Capital, approached shoppers in the retailer's parking lot and told them he was representing an organization called "15 For 15." He said the organization - which doesn't actually exist - wants Wal-Mart to raise its prices by 15% to support a $15 minimum hourly wage for workers.

In reality, the campaign for higher wages at Wal-Mart, led by the labor group OUR Walmart, is asking the retailer to pay its employees at least $25,000 annually, or $13 an hour.

Schiff recorded his stunt on video. He asked Wal-Mart patrons whether they supported higher wages for the retailer's workers, and then demanded that they prove their allegiance by giving him 15% of whatever they spent at Wal-Mart that day. He claimed the money would go to Wal-Mart workers.

"Would you contribute 15% of the price of that TV for the Wal-Mart workers?" he shouted at a man who was walking across the parking lot carrying a boxed television. The man declined.

Advertisement

"But they are counting on you to pay higher prices!" Schiff yelled.

The video was clearly edited, but in every case, the shoppers declined to donate money.

Perhaps they didn't support the cause. Perhaps they recognized Schiff was a phony.

Watch what happened:

Advertisement
You are subscribed to notifications!
Looks like you've blocked notifications!
Next Article