Raising the Minimum Wage for Working Men and Women in California and the Rest of America

Nation's Problems Aren't Tech's Fault, Peter Thiel Says

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Thiel suggested that his antitax philosophies are rooted in part in government inefficiencies.

“The left says there’s too much inequality, and the right says the government is incredibly bad at spending money,” Thiel said. “I wouldn’t mind paying more in taxes if I felt the money was being spent as well as it was spent in the ’30s or ’50s.”

Asked about raising the state’s minimum wage to $12 an hour by 2016 from the current $9 – a ballot measure proposed by GOP activist Ron Unz – Thiel said was inclined to support it as an alternative to taxpayer-funded benefits.

“In theory, I’m against it, because people should have the freedom to contract at whatever wage they’d like to have,” Thiel said. “But in practice, I think the alternative to higher minimum wage is that people simply end up going on welfare.”

He added, “Given how low the minimum wage is – and how generous the welfare benefits are – you have a marginal tax rate that’s on the order of 100 percent, and people are actually trapped in this sort of welfare state.”

• Category: California, Campaign • Tags: Carla Marinucci