Obama's Overtime Rule

[MrT]

Will Likely Add 100,000 Jobs to Economy

The rule is expected to impact roughly 4.2 million workers in the United States. The rule adjusts the minimum salary at which employers are exempt from paying overtime from the current rate of 23,660/year to 47,476/year.

There are four ways employers may respond to this rule change:

- Simply making the overtime payments.
- Reducing employees' base pay, in an effort to leave their total compensation unchanged after the new overtime payments — though this can be complicated, especially because the employers don't always know in advance how much overtime each employee will work.
- Increasing employees' base pay to exceed the new threshold so they remain exempt from overtime payments. Goldman thinks this is most likely for employees who already earn a salary very close to $47,476.
- Employing more workers and have them work fewer hours, so they do not run afoul of the 40-hour limit.

By examining employer behavior from the last time the overtime threshold was changed, in 2004, Goldman economist Alec Phillips developed a "central" estimate that 100,000 additional jobs will be created in 2017 as employers choose the third option — not a huge amount in an economy creating between 2 and 3 million jobs a year, but not trivial either.

And yet, Paul Ryan has vowed to fight this rule change despite campaigning just a few months earlier on trying to improve the financial situation of workers just like the ones that this rule is designed to help.

 

[WCH]

Will Likely Add 100,000 Jobs to Economy

The rule is expected to impact roughly 4.2 million workers in the United States. The rule adjusts the minimum salary at which employers are exempt from paying overtime from the current rate of 23,660/year to 47,476/year.

There are four ways employers may respond to this rule change:

- Simply making the overtime payments.
- Reducing employees' base pay, in an effort to leave their total compensation unchanged after the new overtime payments — though this can be complicated, especially because the employers don't always know in advance how much overtime each employee will work.
- Increasing employees' base pay to exceed the new threshold so they remain exempt from overtime payments. Goldman thinks this is most likely for employees who already earn a salary very close to $47,476.
- Employing more workers and have them work fewer hours, so they do not run afoul of the 40-hour limit.



And yet, Paul Ryan has vowed to fight this rule change despite campaigning just a few months earlier on trying to improve the financial situation of workers just like the ones that this rule is designed to help.

With power and position comes greater responsibility. You don't want to be a salaried employee...get demoted or find a new job.

 

[MrT]

With power and position comes greater responsibility. You don't want to be a salaried employee...get demoted or find a new job.

And when your employer declares that your position as a cashier is now an "executive" position that carries a salary of 26,000/year - but no over time - are you really telling that person should just get demoted or leave their job?

 

[WCH]

And when your employer declares that your position as a cashier is now an "executive" position that carries a salary of 26,000/year - but no over time - are you really telling that person should just get demoted or leave their job?

Cashier positions are usually occupied by part-time workers so, You want upward mobility, find a job that offers that.

 

[KLATTU]

And when your employer declares that your position as a cashier is now an "executive" position that carries a salary of 26,000/year - but no over time - are you really telling that person should just get demoted or leave their job?

YEs , that it was I am saying. They should find themselves another job or do some thing to make sure they aren't trapped in that one. I wish liberals would stop patronizing people, assuming they are too stupid or lazy to do anything about their lot and life . Of course only THEY can fix it;you can't. It called creating a culture of Government dependence. It accounts for the popularity of a 74 year old gadfly pushing 100 year old ideas Sad commentary on how well the Democrats have done in creating that culture of dependency.

 

[DamnYankee]

I wish liberals would stop patronizing people, assuming they are too stupid or lazy to do anything about their lot and life . Of course only THEY can fix it;you can't. It called creating a culture of Government dependence. It accounts for the popularity of a 74 year old gadfly pushing 100 year old ideas Sad commentary on how well the Democrats have done in creating that culture of dependency.

Yep, I agree 100%. Have you ever listened to either The Queen of Corruption or Comrade BS when they are campaigning? And what do they tell everyone? "Life is hard." "You can't do that without gov't help." "The deck is stacked against you." "GOP'ers want to starve you and make granny eat Alpo." I mean it just silly. But what leftists are doing is programming people into believing they can't get anywhere in life because they are too stupid to do it without a gov't freebie.