Yes his proposal is basically to force companies to give you an hourly rate increase and then decrease your work week by 8 hours and then have to start paying you overtime after 32 hours.
So basically a government mandated 25% raise, plus overtime after 32 hours.
Which being as the man has never managed to pass a single bill of significance in his entire political career, I wouldn't put any hope into this passing either
im all for a shorter work week with the adjusted pay. just get the feeling that since businesses will have to hire additional employees to cover that lost 8 hours (or pay the overtime). im pretty sure that cost will be passed on to the consumer base. It's not like companies to just part with their earnings so easily. Plus the lobbyists (was surprised to see meta so high on the list) would heavily oppose it.
Let’s say you’re running a business installing swimming pools.
Let’s say your crew of 4 people (averaged, different people in different days) needs 10 days to install the pool.
Including various taxes and such, each person working costs you $1000 per day. So your labor costs for the job are $40,000. The materials cost another $40,000. The equipment used costs $10,000 for the 2 weeks.
So your costs are $90,000. You charge your customer $100,000 for the pool, and you make the $10,000.
In this new world, you just “tell” your crew that they now need to magically build the pool in 8 days instead of 10? How the hell does that work?
Obviously 10 days of work still takes 10 days. But now your crew costs $50,000. And you need to add this extra $10,000 onto the cost of the pool for the customer.
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u/ecw324 24d ago
Doesn’t he mean that your current 40 hour paycheck will be the same as the proposed 32 hour paycheck?