As reported yesterday by Fox News, in February President Obama is set on announcing a proposed new rule under the Fair Labor Standards Act. The law would determine who is an “exempt employee.” Currently exempt employees cannot claim overtime if they work more than forty hours a week.
Some see this as a slap in the face by the President because he did not get his minimum wage increase so he found a way around the system to get what he wants. What he wants is to hurt businesses.The President has indicated he plans to increase the current $23,000 minimum a worker must make prior to their employer opted to exempt them from the overtime rules. Liberal groups such as the Center for American Progress wants the threshold to be set as high as $50,000.
One thing is certain, businesses can not afford to be restricted even more then they have. First, it was the Affordable Health Care Act which caused some businesses to go out of business or to stop offering health insurance to part-time workers and spouses of employees and now this.
Do you think the 2nd Amendment will be destroyed by the Biden Administration?(2)
When will the government learn over regulating businesses never works? Look at my home state of New Jersey. It is for all intents and purposes, a liberal state. They double tax businesses and make it nearly impossible for them to survive. New Jersey is the second highest taxed state in the United States (per the Tax Foundation) and they wonder why everyone is moving. Same thing will happen here, businesses will just start moving oversees and what does that achieve? Less jobs for the American people.