Djvlad
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Multi-Millionaire Peter Schiff on Why Everyone Hates Rich People (Part 5)
Posted
July 15, 2026
Views
7,222
Likes
213
Comments
152
Engagement
5.05%
July 15, 2026
7,222
213
152
5.05%
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Peter Schiff sits down with Vlad to revisit his viral 2011 Occupy Wall Street appearance, where he entered the protest as “the 1%” to debate the 99%. From Puerto Rico, Schiff breaks down why “eat the rich” politics keep resurfacing, connecting today’s New York tax debates to the history of the U.S. income tax, the 16th Amendment, tariffs, and World War II-era withholding. He argues that higher taxes on wealthy investors can reduce capital formation, hurt business growth, and ultimately impact the middle class. Schiff also responds to Adam Schiff’s comments about Elon Musk’s wealth, warning that targeting fortunes tied to Tesla, SpaceX, and innovation could damage the economy. The conversation covers Steve Jobs, Apple, iPhones, Amazon, Walmart, China, entrepreneurship, communism, and why Peter believes most private-sector wealth comes from creating products, jobs, and value.
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