Posted on 03/12/2014 4:39:44 PM PDT by Jean S
WASHINGTON (AP) — Bypassing Congress, President Barack Obama intends to order changes in overtime rules so employers would be required to pay millions more workers for the extra time they put in on the job.
The rules, which would not likely take effect until 2015, are aimed at workers currently designated as supervisory employees but who are exempt from overtime because they get paid a salary of more than $455 a week. Obama plans to order his Labor Department to recommend regulations that would increase that salary threshold and change the definition of what constitutes a supervisor.
Obama's attention to overtime dovetails with his emphasis on correcting wage disparities, a theme that he has said will be central to the remainder of his presidential term. It also serves his political ends during a midterm election year, giving him a populist issue along with his calls for a higher minimum wage and better pay for women.
(Excerpt) Read more at news.yahoo.com ...
“I have done jobs typically done by hourly people, in order for the company to save money on overtime. I also left those companies, but they continue the same practice.”
I agree; with the globalization of our economy, companies will push as hard as they can, and workers have little recourse. If the Republicans don’t address that angst, we can expect Dem presidents from this day forward.
The solution for businesses is simple. Remove all the tasks from the current salaried workers that can be removed. Give those tasks to hourly workers. Ensure your salaried workers have 39 hours a week only, and see if you need to cut one or two of those back to hourly.
A business must have cash exceeding costs for the owners (that includes stockholders if applicable) to receive their salaries out of, and for expansion/renovation/competitiveness to be financed.
Exactly why is it fair to cut into the owners’ salaries? They are not there running a jobs charity organization.
Dimocraps NEED poverty in much the same way that policemen need crime.....
One company I worked openly stated that they hired young engineers because they were cheaper than hourly workers.
I believe that. I worked for one place where they hired 2 for the same job and then just let them fight it out. AND told them that's what they were doing.
Because apparently no one has “standing” to take him to court to stop him!
and apparently the congress is to afraid of his blackness to attempt to stop him from taking all their power.
It will result in more part time jobs which will lower the unemployment rate, but are lower paying, and do not have benefits.
Win for Obama and the communists, Fail for everyone else.
I do the best I can with my malfunctioned brain after I died and came back to life. No more republicrap or demonrat party for me. I'm going with the teaparty conservatives and hope and pray they will throw the tea in the harbor.
More tax dollars funneled thru venal unions to the Rats...
Same here... I can't imagine the complications a law like this would make.
I often worked weekends, holidays, and made several trips to Argentina, Mexico City, London, etc... sometimes make a trip to do one day's work there. Do you have to get overtime for sitting on planes for 20 hours for a trip?
Salaried workers don’t punch a time clock. So how does this overtime work? OR is it a big sloppy kiss to all Federal Workers?
Are these the same federal workers he put on furlough?
“Exactly why is it fair to cut into the owners’ salaries? They are not there running a jobs charity organization.”
I understand that, but they are bound by the laws of the land (which many of them have used as justification to move jobs overseas). Many FReepers think people have stopped working because the freebies have become too generous, but that is only half the picture; on the flip side, for many people the fruits of their labor generate so little income that their standard of living isn’t very different of they stop working altogether. The supply & demand of labor has been skewed in the employers’ favor by two factors that can’t be ignored: the employers often have the option of sending work to countries with larger, unemployed populations (driving those wages significantly lower), and they also have access to massive waves of immigrant workers into this country (stripping American workers of any bargaining position for salaries of jobs that remain in this country). The latter has gradually shifted from unskilled work to white collar professions as well; I recently dealt with a group of three young consultants that included one American, a Canadian, and a Filipino (the latter two here on work visas). They were doing work for which there was no shortage of American workers, and their firm had somehow found a way to get foreign workers instead.
Confiscation of Retirement Accounts
So, what happens if you’re not willing to invest in Obama’s MyRa? How does the government get the funding it needs to continue financing and growing the debt? The answer: FORCE you to make your retirement funds accessible to the government.
If you do some research on US Bill “HB5337,” you will find the plan to nationalize retirement wealth. On May 6, 2012 Lauren Schmitz, a research analyst at the Bernard L Schwartz Center for Economic Analyst (SCEPA), introduced HB5337. This 401(k)/IRA de-privatization is the brainchild of Teresa Ghilarducci, whom through funding from the White House and the Ford & Rockefeller Foundations engineered a new “Regulatory & Tax Incentive.” The purpose is to force Americans to convert their Retirement Accounts into Government Managed accounts.
The government will nationalize retirement accounts like IRAs, 401Ks, pensions, 403Bs, etc. so that you will be forced to use a portion of your retirement wealth to purchase U.S. government debt – debt that will ultimately default, as it is not possible to sustain our astronomical debt nor the deficits that create it.
This plan to nationalize private 401K and IRA retirement accounts is being deceptively publicized as the government protecting the public against business failings or state bankruptcies. But the reality is, your cash, your retirement funds, your bank deposits and your investments are at huge risk of being confiscated by the government through some contrived reason or another.
Sooner or later, he'll be after us day-rate folks...
Nah...He be livin' large and gettin' over on da man.
If I had to sit on a plane for work purposes, I would be damn sure to be paid for every minute of it. I'm not there for my pleasure or my health.
Currently management can avoid paying you overtime if your duties are “executive” (i.e. supervisory) and if you make more than $455 per week.
How much this impacts employers will certainly depend on what benchmark they raise the bar too...
I would guess a vast majority of “exempt” worker already make more than $455 a week...that’s $23,600 annually...not much for a supervisor type position...
If they are making $23,600 a year, then they are being abused by being exempt...if they are made to work more than 40 hours...without comp time...
$455.00 a week for 40 hours is $11.38 an hour...add on any more hours and they are dipping down to the mid $8.00 a hour...
When I had “exempt” employees, they all make between 35K and 38K a year...that was almost 8 years ago...
My guess this is more about paying off some of his union thugs...their contracts are probably benchmarked against what a “exempt” supervisor non-union employees makes...
I think it may be a first for me, but I actually agree with Obama on this...if the new benchmark isn’t a ridiculous amount...
Of course I don’t agree on his methods, but his premise I think is correct...
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