August 31, 2023
Biden admin mulls more intervention in the market with new overtime pay ‘rules’
By Jack Hellner
Now, the Biden administration is mulling more intervention in the market, and wants to hike the threshold for overtime pay. From Yahoo News:
The Biden administration proposed a new rule Wednesday that would make 3.6 million more U.S. workers eligible for overtime pay, the most generous such increase in decades.
…
The proposed regulation … would require employers to pay overtime to salaried workers who are in professional, administrative and professional roles but make less than $1,059 a week, or $55,068 a year for full-time employees.
Does anyone truly believe that these regulations will help productivity, or that costs won’t spiral out of control? I am sure rising costs will help the poor and seniors on fixed incomes be able to afford their necessities.
It's as if we have a bunch of economic illiterates running the asylum in D.C. who think they have to regulate everything.
They must be voted out or they will never stop.
President Trump reduced regulations as fast as he could, and Joe Biden is increasing regulations as fast as he can.
more
https://www.americanthinker.com/blog/2023/08/biden_admin_mulls_more_intervention_in_the_market_with_new_overtime_pay_rules.html
