Last March, Obama asked the Labor Department to update outdated regulations that mean, as the president put it in his memo, millions of Americans lack the protections of overtime and even the right to the minimum wage. But Obama was not specific about the changes he wanted to see. So let me be specific. To get the country back to the same equitable standards we had in 1975, the Department of Labor would simply have to raise the overtime threshold to $69,000. In other words, if you earn $69,000 or less, the law would require that you be paid overtime when you worked more than 40 hours a week. That’s 10.4 million middle-class Americans with more money in their pockets or more time to spend with friends and family. And if corporate America didn’t want to pay you time and a half, it would need to hire hundreds of thousands of additional workers to pick up the slack—slashing the unemployment rate and forcing up wages. - Nick Hanauer
Posted on: Wed, 19 Nov 2014 05:11:17 +0000
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