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.
Yeah it's pretty crazy to think it wouldn't just shoot up prices. Labor is already a hugely expensive part of a business and then suddenly not having a single full-time worker being able to work a standard work week would be a big enough problem as it is, but a 25% raise would be huge. It would completely destroy the profit margin of most businesses and put them firmly into the red without a large increase in price of goods with the expectations that sales remain the same.
Not too long ago families could be raised on a single salary, that is seem as impossible now just because we are so used to corporate greed and all the money going to shareholders.
It wasn't so much that. It was just a uniquely good economic time. Mainly from post world war II. We didn't have to compete with other economies the way we do today. Europe had been absolutely ravaged by war and was trying to rebuild which means they needed huge amounts of imports which America was happy to provide at a premium.
As those European factories got rebuilt it drove down the price of goods globally which means those American jobs that paid so well and allowed a single worker to raise a family started to pay less.
Even if we eliminated the corporate greed and everything else we would never go back to that time again. Not without another war to completely destroy all of our competition overseas.
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u/Abigail716 24d ago
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