Apparent he has never run a business.
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President Obama touted his efforts to boost overtime pay for millions of workers who are “working harder than ever just to keep up,” he said.
In Saturday’s weekly address, the president said steps he took earlier this week to modernize overtime rules were to make sure the nation’s economic comeback worked for more than just the “fortunate few.”
“In many ways, the trends that have battered the middle class for decades have grown even starker,” he continued. “While those at the top are doing better than ever, average wages have barely budged.”
The regulations being changed govern which types of employees qualify for the “white collar” exemption that allows employers to avoid paying overtime at a time-and-a-half rate.
Obama argued what was once meant as a rule to prevent overtime for highly paid employees, now affected workers making as little as $23,660 a year.