ObamaCare threatens to be a weapon of mass electoral destruction for Democrats seeking to hold their Senate majority. The President wants to change the subject and trade more votes now for fewer jobs later. Specifically, Mr. Obama intends to raise the salary level above which most workers are exempt from overtime rules from its current $455 per week. He also intends to limit exemptions for managers and those who provide specific expertise. Labor lawyers at Fortney & Scott predict that the new minimum salary level for exemption will be $970 per week, $50,440 per year. And like the Obama plan to lift the minimum wage, the looming overtime rules will operate on the premise that Washington can conjure middle-class wealth simply by ordering higher compensation for workers in the private economy. Liberal activists are angry that businesses have increased profits while wages and job growth have stagnated during the Obama recovery. So the idea is to redistribute money from owners to workers. online.wsj/news/articles/SB10001424052702304914904579435271551220120?mod=WSJ_Opinion_AboveLEFTTop&mg=reno64-wsj
Posted on: Thu, 13 Mar 2014 18:35:13 +0000
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