The final overtime rule is out…

May 18th, 2016 at 10:28 am

…and it’s one of the Obama administration’s most progressive actions targeting middle-class paychecks. Here are links to everything you need to know about the new rule, which goes into effect on Dec. 1, and here’s my take at WaPo.

I ask you, OTEers, how often am I able to tout seriously good news on an economic policy that’s not just under discussion but being enacted? Of course, as I wrote:

The reason this is happening is that it’s an executive rule change, not legislation. This Congress would never have taken a step like this to help middle-class, working families. But if the next president is hostile to the new rule, it can be reversed (it takes some time to do so, but it can be done). That means the fate of the new overtime rule is tied to the outcome of the election. Or, to put not too fine a point on it, from the perspective of the middle class, the electoral stakes just got even higher.

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5 comments in reply to "The final overtime rule is out…"

  1. Amateur says:

    This is good news. There should be no good reason why a reasonable congress wouldn’t support this. I think a cornerstone of the Sanders campaign is to get a reasonable congress in place. We haven’t had one in decades.


  2. Leaving says:

    I’m very glad that Jared is becoming pretty brave in taking on trade issues minimum wage issues. This is not easy to do for someone in the economics profession. There’s some kind of unwritten code of conduct for that profession that certain ideas are poison for the career, I think. Well, it is time for people with information to stop caring about only their career and start caring about the effects on the mass of people. Thank you, Jared.

    I’m very impressed at your willingness to challenge Furman. This is probably the most important issue of our time, and elite people like Furman don’t seem to have any understanding of what is really happening here. The seem to live in a bubble of mathematics.

    It is hard to imagine a policy with such little upside vs. such horrible downside as the TPP, at least for average Americans. Why are they doing this? How out of touch with their country people are they?

    The TPP is political poison. If it passes, the Democratic party is doomed in this next election.

    What benefits does Furman think people get from this kind of thing? A worker is put out of a job, but they find another job that pays less but the iPhone is a few dollars cheaper.

    No sane human would come to the conclusion that Furman has come to. Nobody. If the Democratic party continues on this path, it is the cause of its own demise. Mark my words.


  3. Leaving says:

    There’s no question in my mind that these trade agreements (and globalization through labor injection) are the primary cause of secular stagnation. No question. They’re also the cause of most of our current political unrest. We could go back to being a great country with hope so easily, if we could only do away with this marginal greed.

    It is so easy. The TPP must be put in the shredder. The inclinations of elitists are so damaging, but they have no idea do they? Do they get this? Is it worth it to ruin an entire country for a 1 or 2 % gain? Ruin the entire world to maximize profits by a couple of percentage points? These people are insane. Absolutely insane!


  4. urban legend says:

    Tom Perez for serious consideration as the VP candidate! Good story, super smart, now a good worker-benefit legacy (“. . . the architect of the modernized overtime rule. . .”), excellent progressive credentials — TPP notwithstanding — good sense of humor, and Buffalo is closer in miles and culture to Cleveland than to NYC.


  5. Leaving says:

    The worst thing we can do as leftists is to act in hatred. We have to be better. I’m trying to be better, and I’m sorry for my occasional hateful comments toward the intolerant and the rich.

    Power comes through numbers of people. We need as many people as possible on our side, and we cannot get them here through hatred. I’ll try to be as good as Jared in the future.

    Jared is a good role model. Knowing his values and his restraint, he’s a really good role model.


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