The Tragedy of Labor Laws
So I was listening to this awful radio "discussion" about the Department of Labor's new "Fairpay" system of overtime regulations. As this DOL representative sat there and droned on and on about how much we "need" this and "need" that, the mindless host could only sit there and ask questions about certain details. Never was the question asked, "who decides what is 'fair'? Shouldn't that be a subjective term, defined by an agreement between employer and employee?"
The official DOL site says, "It's designed to help you understand the Department's new FairPay rules that strengthen overtime protections. Under the new FairPay rules, workers earning less than $23,660 per year or $455 per week are guaranteed overtime protection. This will strengthen overtime rights for 6.7 million American workers, including 1.3 million low-wage workers who were denied overtime under the old rules"
Guaranteed overtime "protection"? And what happens when this drives up the cost of your employment, and your employer instead decides to let you go? That's not "protection". It's yet another act of aggression, wherein the government attempts to distort the free market with regulations that are meant to help the lowest-income-earners; instead, it hurts them, just like the minimum wage.
For example, if I'm getting paid $455/week with no overtime, then, that is what I am worth to the company. This is what we have agreed upon. I am willing to exchange my services for $455/week. If I don't feel that this is "fair", then I can quit and get a job elsewhere. However, if the government steps in and demands that the "cost" of my services be artificially inflated, then, what happens if the company is unable to meet those cost requirements? The people with the lowest incomes and least responsibility are let go. This in turn frees up more capital with which to meet the "Fairpay" requirements for the other workers. Who loses?
The site also says that this will "strengthen overtime rights..." What rights? Since when does anyone have a "right" to overtime? Oddly enough, while employers no longer have the right to pay their employers what they agree upon, they do have the right to fire them. Is this not contradictory? If I am making $455 per week, then, that's $455 that I would not have had if the employer did not exist. OT is not a right. It's a privilege that is earned or demanded.
The official DOL site says, "It's designed to help you understand the Department's new FairPay rules that strengthen overtime protections. Under the new FairPay rules, workers earning less than $23,660 per year or $455 per week are guaranteed overtime protection. This will strengthen overtime rights for 6.7 million American workers, including 1.3 million low-wage workers who were denied overtime under the old rules"
Guaranteed overtime "protection"? And what happens when this drives up the cost of your employment, and your employer instead decides to let you go? That's not "protection". It's yet another act of aggression, wherein the government attempts to distort the free market with regulations that are meant to help the lowest-income-earners; instead, it hurts them, just like the minimum wage.
For example, if I'm getting paid $455/week with no overtime, then, that is what I am worth to the company. This is what we have agreed upon. I am willing to exchange my services for $455/week. If I don't feel that this is "fair", then I can quit and get a job elsewhere. However, if the government steps in and demands that the "cost" of my services be artificially inflated, then, what happens if the company is unable to meet those cost requirements? The people with the lowest incomes and least responsibility are let go. This in turn frees up more capital with which to meet the "Fairpay" requirements for the other workers. Who loses?
The site also says that this will "strengthen overtime rights..." What rights? Since when does anyone have a "right" to overtime? Oddly enough, while employers no longer have the right to pay their employers what they agree upon, they do have the right to fire them. Is this not contradictory? If I am making $455 per week, then, that's $455 that I would not have had if the employer did not exist. OT is not a right. It's a privilege that is earned or demanded.
