Obama Takes the Credit, Workers Suffer the Consequences Ep.91

Published: July 1, 2015, 1:17 p.m.

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\\n\\t* One more time President Obama seeks to buy Democratic votes with a free lunch by appealing to workers
\\n\\t* Promising more overtime pay, to go into effect in 2016
\\n\\t* Raises the threshold for overtime pay requirements
\\n\\t* Workers who earn salaries of $50,000 or less must be paid overtime for hours worked over 40 hours per week
\\n\\t* This prevents workers who put in extra hours on their own time to try to advance
\\n\\t* This could cause employers to reduce salaries to factor in overtime
\\n\\t* It will be harder for employers to change existing work agreements
\\n\\t* This will adversely affect workers on flexible schedules, such as those who work at home in 2016
\\n\\t* Employers will have to seek more control over workers' schedules
\\n\\t* New law will disproportionately hurt women, the very constituency Democrats claim to protect
\\n\\t* Those who have variable workloads throughout the year will be adversely affected
\\n\\t* This law eliminates choice and increases costs, but it's great politics
\\n\\t* Followup on Puerto Rico: Minimum Wage
\\n\\t* Puerto Rico is an example of the adverse effects of a minimum wage law that has devastated an economy
\\n\\t* Puerto Rico's has more than 20% unemployment
\\n\\t* Puerto Rico labor force participation rate is 42-43%
\\n\\t* The minimum wage has priced out more than half of the labor force
\\n\\t* There is no entry level work in Puerto Rico
\\n\\t* If the minimum wage is so good, why does it not work in Puerto Rico?
\\n\\t* Puerto Rico is a real-life case study on the adverse effects of minimum wage laws
\\n\\t* Puerto Rico's only advantage is its tax law for incoming businesses which will increase demand for labor
\\n\\t* Recent comments on my last podcast questioned my support for Puerto Rico
\\n\\t* I never advised buying Puerto Rican debt - I knew it was a problem
\\n\\t* It makes sense to move to Puerto Rico to take advantage of the new tax laws
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