For the exact same reason that the government establishes minimum wage laws. To prevent the abuse of employees. These people make a living on their overtime work, if the employeers cut the overtime, then the standard of living for these people takes a dramatic drop.
So why doesn't the government cover everyone? If we must prevent "abuse" why exempt huge numbers of salaried employees?
If the employers cut their overtime, and these people do not beleive they are receiving fair compensation, then they are free to strike, collectively bargain, seek other employment.
Have you ever heard of a little thing called indirect compensation?
Irrelevant. I can understand why people would choose to want overtime or choose to give it up depending on the circumstances. My question is why must it be
mandated? Why can't the government simply leave it to individuals or their unions to seek just compensation for their labour?
Which Bush dug heavily into in order to pay for his massive tax cuts. You are so certain that Social Security will still exist in 30 years when these people are old enough to collect it?
Besides, it is still real money that these people are being taxed on. Durran pointed out that these people weren't paying taxes and I corrected him.
Personally I think the entire social security system is a lousy idea (as it pays no interest and gets hosed by demographic shifts), but if it is going to exist the payroll tax has got to be one of the stupidest ways to fund it.
It still is real money, but it is allegedly money well spent by the poor, investing in their future. If we really beleive that social security is a sound investment shouldn't the poor want to pay into social security rather than receive a tax cut?
Did you read my post about how people at the bottom are the reason that people at the top are capable of making such vast fortunes? Of course the rich should pay the biggest taxes, what are you suggesting, a poll tax?
I subscribe to the Laffer curve and I don't care about the nature of the tax cut (my assumption being we are to the right of T*). I asked
you what a fair tax cut would be.
The poor need the money to survive (which by the way would have been better off under Gore's plan) whereas the rich do not. You can't have it both ways, either the rich get their massive income disparity and have to pay higher taxes or they don't. The money to keep everyone in the country up to a certain standard of living has to come from somewhere.
So why not tax everyone above the "survival" threshold at an equal rate and everyone below it not at all? Bluntly the middle class doesn't need the tax cut to survive, but it does help them become more affluent. The US tax system is not set up on a basis of survival needs verses aflluence ... why should a tax cut be any different?
Here's a hint bozo, look up a little thing called the Industial Revolution.
Here's a hint look up The Knights of Labour, the AFL-CIO, and the phrase "strike". There are numerous ways the supply side of the labour market can force concession besides governmental mandate.
What is so unusual about this particular form of compensation that it must be statutorially protected while others, like say healthcare, are not?
Durandal:
if employers weren't legally required to pay overtime, they wouldn't. Labor laws exist for a reason. I thought this was obvious.
I see so if Ford decided it wasn't going to pay overtime the UAW would bend over and accept it? If one hospital decides to pay its nurses less they won't simply seek employment at one which does?
Why are people incapable of securing these benifits themselves if they are fair and reasonable compensation?
Hamel:
No, it's just another scheme to fuck employees out of their rightful pay. Don't hand us this bullshit about what markets can bare; if the market truly had its way, every joe would be underpaid. Every employer will rape workers in the ass and there would be no point in looking for better pay elsewhere.
I take it you have never heard of collective bargaining, strikes, boycotts, negative pubilicity and all the other nonmandatory actions that are used by labour to receive fair and reasonable compensation?
Very funny, Scotty. Now beam down my clothes.