Peter Schiff: how min. wage destroyed American Samoa economy

YouTube
Jul. 16, 2010


Despite Samoa's objection, America imposed the minimum wage law there and the 2 largest employers, Starkist and Chicken of the Sea, shut down. This not only killed jobs, but caused the prices of imports to Samoa to go up b/c the boats that used to export Samoan goods would come back with imports, but fewer exports and boats makes imports more expensive. 7/12/'10












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