President Obama recently signed an executive order "instructing the Department of Labor to update and expand overtime regulations to cover more employees." While the president is attempting to thin the gap between those at the top and bottom of the income ladder, some right-wing talkers are not too happy about it.
During a recent episode of "The O'Reilly Factor," Fox News host Bill O'Reilly noted that while he does support an increase in the minimum wage, with exceptions of course, increasing overtime pay is actually bad for the economy and hurts workers.
"So while in theory the President's helping workers he may be actually hurting them. Talking Points does support a rise in the minimum wage if we want to get people off welfare, we should pay them $10 bucks an hour. That's an incentive. It's good policy. Of course there would be exceptions for teenagers and restaurant workers who get tips.
But on the overtime the President is once again trying to manage the private economy. As everybody knows, that effort has failed for the past five years. The economy is stuck. Many corporations are not hiring. Companies are hoarding money overseas to avoid taxes. And the social justice taxation system in general means consumers have less money to spend.
But President Obama is a theoretician, a man who looks at the world through the lens of what should be. And so the unintended consequences of his economic policies have held the American economy back big time."
Bill O'Reilly and other right-wing talking heads continue to push the narrative that mandating businesses to pay workers more will only hurt the economy, but the economic reality is far different. There needs to be a balance between labor and businesses and getting a little money into the hands of those who work hard, will only benefit and stimulate the economy, not hurt it.