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Jeb Bush 'should be embarrassed' by his overtime pay claims, economists say
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john01992 Offline
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Jeb Bush 'should be embarrassed' by his overtime pay claims, economists say
http://www.theguardian.com/us-news/2015/...onomy-jobs

Quote:Indeed, a Goldman Sachs study estimated that employers would hire 120,000 more workers in response to Obama’s overtime changes. And a similar study commissioned by the National Retail Federation – a fierce opponent of the proposed overtime rules – estimated that as a result of the new salary threshold, employers in the restaurant and retail industries would hire 117,500 new part-time workers.
07-17-2015 12:14 PM
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shiftyeagle Offline
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RE: Jeb Bush 'should be embarrassed' by his overtime pay claims, economists say
Goldman Sachs can also be referred to as "Obama's 2nd largest donor in his 2012 presidential bid."
07-17-2015 12:22 PM
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RE: Jeb Bush 'should be embarrassed' by his overtime pay claims, economists say
The new rules will clearly cost some people their jobs. Its simple economics that even Wall St. should understand. Whether the increased wages result in more net jobs is debatable. To say someone should be embarrassed just indicates you don't have enough faith in your argument to seriously debate it.

And in some cases non-exempt people get paid straight time for those hours. Those people will make less money and will be really unhappy about it as hours get cut.
07-17-2015 12:38 PM
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john01992 Offline
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RE: Jeb Bush 'should be embarrassed' by his overtime pay claims, economists say
(07-17-2015 12:22 PM)shiftyeagle Wrote:  Goldman Sachs can also be referred to as "Obama's 2nd largest donor in his 2012 presidential bid."

Fine, take any of the other sources:

Quote:Daniel Hamermesh, a University of Texas labor economist, said: “He’s just 100% wrong,” adding that “there will be more overtime pay and more total earnings” and “there’s a huge amount of evidence employers will use more workers”.

You perfectly verify everything I have said about GOPers on here being unreasonable when the evidence is thrown in their faces.
07-17-2015 12:41 PM
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blunderbuss Offline
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RE: Jeb Bush 'should be embarrassed' by his overtime pay claims, economists say
Jeb Bush is a joke. You probably won't find many people here that support him.
07-17-2015 12:41 PM
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EverRespect Offline
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RE: Jeb Bush 'should be embarrassed' by his overtime pay claims, economists say
(07-17-2015 12:41 PM)blunderbuss Wrote:  Jeb Bush is a joke. You probably won't find many people here that support him.

Agreed and I actually kind of like Obama's overtime proposal on principle.
(This post was last modified: 07-17-2015 12:50 PM by EverRespect.)
07-17-2015 12:50 PM
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QuestionSocratic Offline
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RE: Jeb Bush 'should be embarrassed' by his overtime pay claims, economists say
It does make sense when you consider that companies who would now have to pay overtime, will likely cut overtime for existing employees and hire new employees to pick up the work load slack.

In the short run, that's better for the current employees, who will not have to work the OT, and the new employees.

But it is bad for the business, as their costs will rise. If costs are higher, then all other things being equal, they will see lower profits. Lower profits can reduce investment and in the longer run, lead to fewer jobs. In addition, lower profits can depress equity values and raise the cost of capital.

Or the company can raise its prices and transfer the higher employment costs to the customers. Or in other words, it's just another way to redistribute wealth.

So it just comes down to the basic question of who knows how to run a business better: the business or the government?
(This post was last modified: 07-17-2015 12:58 PM by QuestionSocratic.)
07-17-2015 12:57 PM
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EverRespect Offline
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RE: Jeb Bush 'should be embarrassed' by his overtime pay claims, economists say
(07-17-2015 12:57 PM)QuestionSocratic Wrote:  It does make sense when you consider that companies who would now have to pay overtime, will likely cut overtime for existing employees and hire new employees to pick up the work load slack.

In the short run, that's better for the current employees, who will not have to work the OT, and the new employees.

But it is bad for the business, as their costs will rise. If costs are higher, then all other things being equal, they will see lower profits. Lower profits can reduce investment and in the longer run, lead to fewer jobs. In addition, lower profits can depress equity values and raise the cost of capital.

Or the company can raise its prices and transfer the higher employment costs to the customers. Or in other words, it's just another way to redistribute wealth.

So it just comes down to the basic question of who knows how to run a business better: the business or the government?

Business certainly knows better, but they shouldn't be able to abuse their employees either. Either pay them overtime or send them home to their families at night and on the weekend IMO. It is one thing to expect an employee to work over hours now and then in a crunch, but many employers, especially in big cities, now expect 60-80 hour weeks every week without paying for it. Sorry, but this might be part of the 1% of the time I agree with Obama, though it is an initial reaction and I really haven't thought it through.
07-17-2015 01:05 PM
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john01992 Offline
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RE: Jeb Bush 'should be embarrassed' by his overtime pay claims, economists say
(07-17-2015 01:05 PM)EverRespect Wrote:  
(07-17-2015 12:57 PM)QuestionSocratic Wrote:  It does make sense when you consider that companies who would now have to pay overtime, will likely cut overtime for existing employees and hire new employees to pick up the work load slack.

In the short run, that's better for the current employees, who will not have to work the OT, and the new employees.

But it is bad for the business, as their costs will rise. If costs are higher, then all other things being equal, they will see lower profits. Lower profits can reduce investment and in the longer run, lead to fewer jobs. In addition, lower profits can depress equity values and raise the cost of capital.

Or the company can raise its prices and transfer the higher employment costs to the customers. Or in other words, it's just another way to redistribute wealth.

So it just comes down to the basic question of who knows how to run a business better: the business or the government?

Business certainly knows better, but they shouldn't be able to abuse their employees either. Either pay them overtime or send them home to their families at night and on the weekend IMO. It is one thing to expect an employee to work over hours now and then in a crunch, but many employers, especially in big cities, now expect 60-80 hour weeks every week without paying for it. Sorry, but this might be part of the 1% of the time I agree with Obama, though it is an initial reaction and I really haven't thought it through.

What the actual ****?
07-17-2015 01:08 PM
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HeartOfDixie Offline
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RE: Jeb Bush 'should be embarrassed' by his overtime pay claims, economists say
I'm honestly not familiar with any claims Jeb has made, other than the usual crap.

What I do know is that Jeb is running so he won't be the only one at the Christmas party that didn't get to be president. He is the single worst candidate out there on any side next to Hillary.

A Bush v Clint election would be the single worst election choice this nation has ever had. It would be pathetic.
07-17-2015 01:11 PM
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shere khan Offline
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Re: Jeb Bush 'should be embarrassed' by his overtime pay claims, economists say
Weak. Really grasping
07-17-2015 02:00 PM
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