The conversation revolves around the implications of increased overtime pay on product prices, the role of capitalism, and the necessity of regulations to ensure fair wages and economic stability.
@MooseCharlieSocialist3mos3MO
It would also require overtime pay at time and a half for workdays longer than eight hours, and overtime pay at double a worker’s regular pay for workdays longer than 12 hours.
@D1plom4tLlamaGreen3mos3MO
Common misconception. Price will only go up a little bit, due to minor extra expenses. But wages in the US will only be a small part of the total cost of getting a product on the shelf, so it won’t go up by as much, percentage wise, as the wages per hour
Competition ensures this
@MooseCharlieSocialist3mos3MO
They’re getting that $$ back one way or another.
@D1plom4tLlamaGreen3mos3MO
Eventually. That’s the issue with capitalism; you constantly have to enact new laws to ensure people get to live their life with a fair wage.
But hey, cross that bridge yada yada.
@LazyRightW1ngLibertarian3mos3MO
Someone doesn't understand the free market.
@9CJ6CB63mos3MO
Historically, they’re making an accurate statement. We literally have to fight the system in order to make it work FOR us. Whenever we drop regulations, sure, we make money, but where that money goes often draws it away from the average person, even if tax rates dropped it would be the same, if not worse. The temporary market booms of laissez-faire economics led to bigger problems in the future, while exploiting the average person more and more and increasing the wealth gap.