You honestly think employers are going to sit idle? Welcome to the rise of the machines. Lower the manager’s pay, hire two part timers to take up the slack and automate. Cut all employees by half.
47% depend on government, wait a few years and it will over 65%.
“Lower the manager’s pay”
Actually, this rule would have at least somewhat the opposite effect.
The actual management staff would need to be paid more than $47,000 to be exempt from overtime but you’re right that some people who are called ‘managers’ may be demoted or lose their jobs if the reality is that they aren’t actually managers.