He wants to keep many people working for nothing:
He said the tendency of the Obama administration to implement regulations without the participation of Congress has made investors gun-shy. An example, he said, is a federal rule scheduled to go into effect Dec. 1 that will raise the pay threshold below which workers must get overtime pay from $455 a week to $913.
The amount has been unchanged since 2004. Supporters say it will put more money into the pockets of workers and keep businesses from treating some salaried workers unfairly by making them work extended hours without extra pay. Opponents say the increase is too large for employers to stomach all at once and businesses will hire more part-time workers or take other steps to get around the coming rule.
That current threshold puts people making $25,000 per year into a potentially devastating situation. Depending on the overtime hours required, it could keep them from working a 2nd part-time job. Or keep them from attending night school, or force them to pay for unnecessary child care, etc. If the (unpaid) overtime is only 10 extra hours per week, their hourly wage is about $8.90. But if it's closer to 20 extra hours per week, that wage plummets to $7.60 per hour. On a friggin' salary. Keep in mind, that (new) max threshold represents an annual salary of $47,476. Which in this economy ain't what it used to be, and very well may be the only income of the household. Granting them overtime protection is not radical, or "exorbitant." The word you're looking for is "fair."
http://ift.tt/2dVJ5wq
No comments:
Post a Comment