The New York Times, citing White House officials briefed on the announcement, reported that Obama would announce the rule changes on Thursday.
The new regulations to the 1938 Fair Labor Standards Act would mandate that businesses provide overtime pay for those who work jobs as varied as fast-food restaurant manager, loan officer, and computer technician. Currently, businesses are prohibited from denying overtime to a salaried worker making less than $455 per week. The rules that President Obama is proposing would increase that salary threshold, though it was not clear by how much.
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21 comments:
yeah, because this makes all kinds of sense.... Raise the minimum wage and then require overtime pay?
Here's the scenario:
I employ Joe Schmo at a decent hourly rate for 40 hours per week. Often times, business is heavy so Joe often puts in 50-60 hour work weeks at a normal hourly rate. I am a small business and can't afford to pay him overtime, but Joe's salary is reasonable and he is happily employed. Not to mention, in the State of Maryland, I am not required to pay him overtime wages. Joe is excited to work extra hours in order to make more money to provide for his family. Now everything changes when Obama's overtime proposal comes through. I can't afford to pay overtime wages to Joe so his hours are set to 40 hours per week thus reducing his paycheck and potentially causing hardships on him and his family. In order to maintain business, I would need to hire an additional employee to work about 10 hours per week which will be nearly impossible to find and retain a person to only work an hour or two each day. My business will begin to fail as my lack of staff deters customers and efficiency. The other option I would have would be to cut Joe's hours back to 25 hours and then hire another employee to work the other 25 hours. No Joe is in rough shape financially because his income just got slashed in half.
BOTTOM LINE is that you CAN NOT force people in to making money or paying salaries. Free markets will always yield the best results over excessive policy. If Obama thinks otherwise, then I would like to see where he has learned such? Show me his economics degree, his business background, medical degree or finance degree... oh that's right, HE DOESN'T HAVE ANY OF THOSE! He has never owned a business, shoot his 50 some years of living he has hardly been employed outside of a public office! He doesn't even know what it is like to be an employee. He's a lawyer, he doesn't even have any formal political education. It amazes me how he went from being a lawyer to state senator to US senator to US president in 11 years. And it is even further amazing that this MORON got elected as president, what does this say about our society???
Well said 2:59. Liberals have a mental block over this very basic sense of logic.
2:59 - blame all of the other morons that elected him to each successive office...they are everywhere - in abundance. So many of them are living off of the government trough that they will continue to elect similar to maintain their place in line at the trough.
When enough of us vote in conservative business-experienced constitution-abiding representatives, it will change.
November is coming...then 2016!
2:59 PM
You can't afford to pay overtime out of the extra money YOU make from being busy/ier? I call bs and say you are just greedy.
4:09 And here is a person who just doesn't get it. If "employees" realized just how many "fees, taxes and fines" that a business has to deal with to be here in MD... well, they will never realize. But keep acting like the small business' around here are screwing their workers... whatever helps you sleep.
Not to mention the fact that it's a hidden tax raise that may put you in a higher income bracket. Plus you have less money because of it. The taxes on overtime are HIGH, so naturally "they'd" want you to earn overtime.
Wow , another chance to steal more money from tax payers.
Read the article. The change covers professional/executive positions (college degree) and not Joe Schmo working at most small businesses especially on the E. Shore.
There are some very sucessful Democrats too!
Again cost for all of us go up ..and the value of a dollar goes down...the demoturds still cant add..they should be reducing debt and working to increase buying power by making the dollar worth something...these actions only deflate the value further..idiots..
The point you are all missing here is Ob' has declared Martial Law and is getting away with it.
Chuck Cook said...
2:59 PM
You can't afford to pay overtime out of the extra money YOU make from being busy/ier? I call bs and say you are just greedy.
March 12, 2014 at 4:09 PM
Anonymous said...
There are some very sucessful Democrats too!
March 12, 2014 at 6:01 PM
And they still blame everything on Bush.
They are also getting all the tax breaks as well.
Anonymous Anonymous said...
4:09 And here is a person who just doesn't get it. If "employees" realized just how many "fees, taxes and fines" that a business has to deal with to be here in MD... well, they will never realize. But keep acting like the small business' around here are screwing their workers... whatever helps you sleep.
March 12, 2014 at 4:52 PM
They have to be paid regardless if you pay overtime or not. You are bringing in extra income while you are 'busy', so that should pay for the overtime and still give you a profit.
If not, maybe you and
You are dumber than whale ship. Apparently you have never managed a business. You are clueless which means you are a Democrat. Stupid bastar#.
March 12, 2014 at 5:30 PM
are what he assumes everyone else to be when they disagree with him.
You guys wouldn't happen to live in Federalsburg would ya?
This, after the 30 hour full/ part time rule, falls in line to give the employer yet another reason to hire the two "25 hour" workers, even though it doesn't fit his business and could hurt his customer relations, as well as his valuable employee's loyalty.
Business is best left to the rules of Capitalism, not politics, PC, or Health Insurance.
Well said!!
ty :)
No one gets into business to break even which is what plenty of you think they should be doing. As a business owner you take ALL of the risk and place it on your shoulders. Corporate loopholes are only available to people with the vast resources to exploit them, mainly huge corporations. If you think that converting a business to a Corporation absolves the owner of fiscal responsibility you are again wrong. The owners typically must back all loans and vendor agreements with personal guarantees meaning they not the corporation is liable for repaying the debt. Mix in all of the other bills that need to be paid and any business owner is right to cry foul. We are being strong armed into increasing our overhead just so we can be taxed further on it.
This whole administration needs to be put down like a sick dog.
9:22 AM
just pay a fair wage to the ones who make the profit for you. why do people go into business, then complain about being in business?
He's going to be white headed by the time he leaves office.What is it about that job that ages people so?
4:18, Lies & Selfies with other women.
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