Posted on 07/06/2015 5:34:41 PM PDT by upchuck
When a working parent needs to put in more than 40 hours a week, that time can be measured in family dinners, tee-ball games, and ballet recitals missed -- and too often, that worker isn't even being paid fairly for the extra work.
Last year, only 12% of salaried workers were eligible for overtime under current rules -- rules rooted in the 1930s. It's time for that to change.
That's why I'm moving to update them for our modern economy, and right now, you have a chance to speak up in support.
Over six years and 64 consecutive months of job growth, we've regrown and rebuilt our economy for the 21st century -- and expanding opportunity for the middle class has been my top priority. We're making progress, but our rules for overtime pay need to catch up.
Right now, there are employers skirting even basic overtime laws, adding "manager" to somebody's job title solely to avoid paying workers what they've earned. Those workers are being cheated today, and this new step fixes that.
The rule I've proposed will expand overtime eligibility to nearly five million workers. It's one of the fastest ways we can help expand opportunity for all Americans.
We're going to do more to make sure that when a worker sacrifices time away from his or her family, they're being paid for it. It's the right thing to do.
Thank you,
Barack Obama
Who, ultimately, will pay for this extended overtime?
I'll not comment about his ridiculous economy claims. Leave that to y'all :-)
mother #### you, you frikkin' ****** monster
Go back to kenya ....
Oh yeah ... they don't want you, I just read.
ROTFLMAO...Bambam sounds like the criminal running the AFL-CIO, Richard Trumka. Get out of private business, Bambam.
How did our former Republic turn into a nation where the person charged with executing the laws -- dictates laws.
And where the only solicitation for speech -- is speech in support of he who presumes to dictate.
The worst part of over 40 hours a week workers is that they will face higher taxation for it. I do not think it is fair to tax a person making, say, $50,000 a year part time the same as someone making $50,000 working 3 jobs and 80 hours per week of work. It would only be fair if we had a flat tax. Under the current system, it is not fair to tax it the same.
10: FUBO
20: Shove it up your as...er...Obamahole
30: Go to 10
Agreed. Flat tax bump.
Here is how I think this will play out.
Acme Corp. has a mid level manager making $50K working 60 hours/week.
Under these new rules Acme will convert this person to hourly. 50K / year = $25/hour at 40 hour/week.
20 hours of overtime each week adds $750 each week, or $37,500 per year.
Same manager, same job, same hours, now pays $87,500 instead of $50,000.
Plan B.
Convert manager to hourly at $25/hour and reduce hours to 30/week. This is $750/week and at 50 weeks/year comes to $37,500.
Hire a second person to work the other 30 hours each week.
Same job, same hours being paid.
The difference is 2 part time managers get $37,500 each or $75,000 total.
One manager with overtime gets costs Acme $87,500 per year. Two part time managers doing the same job costs Acme $75,000 per year.
Multiply this across the entire middle management of America and you have the middle class getting nearly a %30 pay cut.
The end result being for the first time in our countries history the next generation will likely have a substantially lower standard of living than the one that came before.
I hope I am wrong but I am becoming more convinced of this every day.
Barry will make everyone unemployed so they can have more time at home.
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