Soaring profits huh???
Kon-sty-two-shun?
What’s that?
Strangling the private sector, one EO at a time.
Sounds more to me like just another effort to put millions more of the most productive Americans out of work.
The kenyan seeks to reduce employment further.Not enough people are on the dole for a proper recovery to happen.
This will devastate many employers. The costs for those that survive will be born by shed workers and consumers.
Idiocy on parade.
Creating more and more unemployment. One executive order (dictatorial arrogant usurpation of power) at a time.
Employers can just borrow the extra money from China.
He’ll pen some overtime pay for himself.
(Because part time employees should get overtime, too. Otherwise, it isn't fay-ir)
Goofy premise...
Nothing like a “neutral point of view” in an article, huh? (”confront corporations that have had soaring profits “)
This will utterly devastate businesses. It will also utterly devastate the people he purports to help with this effort. I don’t know about anybody else’s business, but we generally pay exempt people more, with the understanding that they will have to be a bit more “flexible” with their time. So I guess we’ll have to go cut the salaries of “computer technicians” who make $100k a year back down to $75k a year, since we know they’ll make up the rest in overtime.
Dude is trying to turn us into France.
Guess no one’s told the head retard how many companies forbid their employees from coming even close to overtime.
Oh, and I recall once working over ten hours of overtime...and big brother got every dime of the extra money. Chew on that while dear leader is doing his belching and farting on income inequality.
His rules are rules, not law. They will just be ignored as claptrap from a dead duck.
Yup, that will go over like a lead balloon.
Anyone who lets themselves be salary or classified as “executive” is schmuck anyway who deserves not to be paid for their mandatory overtime. In this day and age where the 60-hour week and 24/7 on-call is a requirement, I make sure I remain hourly that I get paid my double pay for anything over 40.
We don’t need the Obummer trying to fix other people’s stupidity for ‘em.
Now business has an excuse to move those jobs overseas to reduce costs.
India can provide programmers etc just as well as we do (although admmittedly not as good as ours) and, since we only have to pay them about 1/3 of what ours make, if it takes them twice as long we still come out ahead.
I long for the days when we had someone in the whitehouse who was American, understood economics, and not a brain dead liberal
this “magic negro” sure is a piece of shit.
More overtime pay also means more into the government tax coffers.
Business can roll with the punches on this, with all the unemployed, underemployed, and out-of-the-workforce sloshing around in the US economy. If a business needs 150 hours of managerial/professional work, currently being provided by three employees, the business will simply cut the hours of those three and hire another - or maybe two more, slashing all of their hours to under thirty per week and dropping their health insurance to boot.
IT workers, another target of the proposed overtime expansion, will only benefit if their employer keeps programming work here in the US. Look for a boom in employment opportunities for programmers and software engineers in India, China and elsewhere outside the country.
Kiss full-time jobs goodbye forever. Folks wanting to get ahead and prosper will need to hold down a second or even third part-time job.
As normal the NYT takes an opportunity to carry the water for the left wing agenda....
Though reading other unbiased sources, this is not that bad of an idea this lawless administration is proposing to do....
Congress should be doing it not though an EO....
If you make $455 a week an employer can make you “exempt” from being paid overtime if you are in a supervisor position....that’s $23,600 a year....nothing to write home about....
That’s $11.34 an hour if you are working 40 hours....very few supervisors work 40 hours... So the more hours you work the less per hour you make....
This will not hit businesses as hard as the left hopes....I would surmise must companies pay their supervisors personnel more than $23,600 a year....
How hard it impacts will depend on what benchmark the minimum is raised to....