Market? What market? We haven’t had a free market for much of anything in at least the last 75 years:
Business groups and congressional Republicans are blasting regulations President Obama will announce Thursday that could extend overtime pay to as many as 10 million workers who are now ineligible for it.
While liberals lauded the plan as putting more cash in the pockets of millions of workers, business groups warned it would damage the economy and Republicans said it was another example of executive overreach.
That’s right friends, now it appears that the Obama administration has decided … that’s right, “decided” … that in addition to the increase in the minimum wage, now it needs to redefine who is eligible for overtime. And, of course, that redefinition is going to negatively impact who? Businesses. And if they have to live with the changes, who then will it effect?
Oh, yeah, those that can least afford it. Why? Because it will increase the cost of doing business. And what do businesses do when their costs increase? Pass it on to the consumer.
Now, I ask, was that so hard to spell out? No. And is it hard to understand? Again, no.
So why is it liberals can’t follow the logic train to its final destination?
Well that’s fairly simple, they don’t think, they emote. The bureaucrats, who’ve never had to run a business or turn a profit in order to meet a payroll are experts in what others “need”. And they’re convinced those who are involved in running a business are just greedy.
“What we’re trying to take a look at is how we can make the labor force as fair as possible for all workers and that people get rewarded for a hard day’s work with a fair wage,” Betsey Stevenson, a member of the White House Council of Economic Advisers, told reporters Wednesday.
Right. Because, you know, the guy who risked everything and has succeeded to the point that he can hire others and thereby give the abysmal unemployment numbers some relief aren’t “fair” – by definition I guess.
“Changing the rules for overtime eligibility will, just like increasing the minimum wage, make employees more expensive and will force employers to look for ways to cover these increased costs,” said Marc Freedman, executive director of labor law policy at the U.S. Chamber of Commerce.
Meanwhile in fantasyland:
Stevenson, however, contended that there would likely be an increase in employment as a result of the change, with companies deciding to hire more employees rather than paying existing workers at a higher rate.
Really? Or perhaps they’ll hire less and use technology to fill the bill. Technological answers don’t ask for raises, don’t require health care coverage, don’t need overtime, etc. In fact, it is likely to lead to less employment and more mechanization.
But we should understand the BIG reason:
Proponents say the regulations are an issue of fairness.
“I think that if you put in a full week’s work and you end up being asked by your employer to work longer hours, you deserve to be paid a little extra,” said Rep. Xavier Becerra (D-Calif.).
Is that right? Well, frankly, Rep. Becerra, that’s none of your freakin’ business. But, I assume you can point out the Constitutional basis for your “thought”, right?
Bunch of idiots. They are bound and determined to destroy the golden goose because they’re are woefully ignorant of the goose’s anatomy and how it works.