More overtime on the way? Obama proposes broader coverage

[Jazzy]

They're called managers, and they sometimes work grueling schedules at fast food chains and retail stores. But with no overtime eligibility, their pay may be lower per hour than many workers they supervise.

With those employees in mind, the Obama administration is proposing making up to 5 million more people eligible for overtime — its latest effort to boost pay for lower-income workers. These workers would benefit from rules requiring businesses to pay eligible employees 1½ times their regular pay for any work beyond 40 hours a week.

"We've got to keep making sure hard work is rewarded," President Barack Obama wrote in an op-ed published Monday in The Huffington Post. "That's how America should do business. In this country, a hard day's work deserves a fair day's pay."

Employers can now often get around the rules: Any salaried employee who's paid more than $455 a week — or $23,660 a year — can be called a "manager," given limited supervisory duties and made ineligible for overtime.

Yet that would put a family of four in poverty territory. Obama says that the level is too low and undercuts the intent of the overtime law. The threshold was last updated in 2004 and has been eroded by inflation.

The long-awaited overtime rule from the Labor Department would more than double the threshold at which employers can avoid paying overtime, to $970 a week by next year. That would mean salaried employees earning less than $50,440 a year would be assured overtime if they work more than 40 hours per week.

To keep up with future inflation and wage growth, the proposal will peg the salary threshold at the 40th percentile of income. The White House said 56 percent of those who would benefit in the first year are women, and 53 percent have a college degree.

With the higher threshold, many more Americans — from fast food and retail supervisors to bank branch managers and insurance claims adjusters — would become eligible for overtime. Other changes the administration may propose could lead more white-collar workers to claim overtime.

A threshold of $984 a week would cover 15 million people, according to the liberal Economic Policy Institute. In 1975, overtime rules covered 65 percent of salaried workers. Today, it's just 12 percent.

Source

Thoughts?

 

[DrLeftover]

"OK, people, now, we need to think of a way to screw even more small businesses and force them to close. What can we do?"

"Sir. I know, sir, we can pass a tax on the electricity businesses use."

"We're doing that. We can increase it, but that's not going to really screw them. Yeah, Nebulous, what've you got?"

"You're gonna love it...."

 

[WHO IS SERAFIN]

Literally no one can be this stupid unless you are intentionally destroying a nation. And there we go!

 

[Webster]

Literally no one can be this stupid unless you are intentionally destroying a nation. And there we go!

Don't forget everyone who voted for him... *remembers who he voted for...twice* ...never mind.