Peter D. Schiff: Making

Peter D. Schiff is American entrepreneur, economist and author. Explore interesting quotes on making.
Peter D. Schiff: 80   quotes 0   likes

“Nobody is entitled to someone else's money, that is the bottom line. People think they are entitled to it because they think they paid into it, nobody paid into anything, it was a fraud. Every single dollar that the gov collected in social security taxes, has already been spent, there is nothing there, there is no money, so the only money the government gets to make current payment is the money it can take from people who are still working. Its a transfer from the working poor in many cases to the retired rich. We don't have the money, I feel bad for the fact people made promises we can't keep, I feel bad for the people that invested with Bernie Madoff and lost their money, but its the same principle, its the same Ponzi scheme. We have to put an end to it, we have to find real solution to these problems because if we keep on denying that they exist and keep on spending money, we're going to destroy the value of everyone's benefits.”

Peter D. Schiff

RTC, Avon, CT, 10th May 2010

Money , People , Feeling , Fraud

“When private industry makes a mistake, it gets corrected and goes away. As governments make mistakes, it gets bigger, bigger and bigger and they make more, more and more because as they run out of money, they just ask for more and so they get rewarded for making mistakes. In the meantime that is exactly what we are doing by subsidizing companies which are failing, we have a reverse Darwinism, we've got survival of the unfittest, the companies and people that have made terrible mistakes are being rewarded and other people are being punished and being taxed.”

Peter D. Schiff

Authors@Google: Peter Schiff (2009)

Money , People

“…it is the natural tendency of market economies to lower prices that makes them so successful.”

Peter D. Schiff

Quotes from Crash Proof (2006)

Nature , Success

“The Constitution denies the states the power to make anything other than gold or silver coins legal tender in payment of debts.”

Peter D. Schiff

Quotes from Crash Proof (2006)

“There are no checks and balances if the gov is wrong, if a private entrepreneur makes a mistake, he goes bankrupt, the losses are cut, if he bets wrong, he loses, if the gov bets wrong, they just get bigger, they just appropriate more money, it's a bottomless pit, because they either get it from the tax payers or run it off a printing press.”

Peter D. Schiff

Authors@Google: Peter Schiff (2009)

Money , Loss

“Too many people in Connecticut are struggling right now, and the last thing we need is meddling politicians making things worse. Only by cutting deficit spending, reducing burdensome regulations, and letting people keep more of their hard-earned dollars will we get our economy back on track.”

Peter D. Schiff

2010 Senate Campaign

People