Why Obama’s New Overtime Regs Will Hurt More Than They Help

he Obama administration’s updating of federal policy toward employees covered under the Fair Labor Standards Act (FLSA) has been finalized. Starting in December, over 4 million workers who make up to $913 a week ($47,476 per year) will be have to be offered overtime pay (at least time-and-a-half) when they clock in more than 40 hours a week. The old standard was $23,360, so this is essentially a doubling of the threshold. To get a sense of who is covered by the FLSA, go here.

Guess who likes this sort of edict?

bernie fool