Tag Archive for wages

Hillary Clinton: “Donald Trump shouldn’t have his hands on the U.S. economy”

On Tuesday, Democratic Party presidential nominee Hillary Clinton spoke in Columbus OH on the contrasts between Democrats and Republicans as it relates to the economy. She made the case that the GOP nominee, Donald Trump, is as unfit to manage the U.S. economy as he is to have his hands on the nuclear codes.

Hillary Clinton Speech in Columbus, Ohio June 21, 2016
Link: CSPAN

Transcript below the fold.

UPDATE: Trump’s sketchy business dealings are cataloged at this new web site set up by the Clinton campaign: ArtOfTheSteal.biz

WaPo: Clinton to paint Trump as reckless and misguided in economy speech

COLUMBUS, Ohio — Hillary Clinton plans a one-two punch this week to first paint Donald Trump as reckless and misguided in his approach to the economy and then present what her campaign is calling a thematic argument about why her ideas and programs are better.

Clinton will attempt to pick apart Trump’s economic policies in an address here Tuesday that is roughly patterned on the point-by-point attack she launched on Trump’s national security ideas earlier this month.

“Everything that she said about Donald Trump and our security is equally true when it comes to our economy,” said Jake Sullivan, Clinton’s chief policy adviser.

These are the numbers Hillary will be trying to move in her favor:

Regardless of which presidential candidate you support, please tell me if you think Hillary Clinton or Donald Trump would better handle each of the following issues.

The Economy …………… Prefer Trump 53, prefer Clinton 43 Trump +10
Employment and jobs … Prefer Trump 52, prefer Clinton 45 Trump +7

Good Government: Updating Fair Labor Standards – UPDATED with Transcript and Photos

The President will travel to La Crosse Wisconsin this afternoon to officially announce an update to the Fair Labor Standards Act that will go into effect next year.

President Obama: “This week, I’ll head to Wisconsin to discuss my plan to extend overtime protections to nearly 5 million workers in 2016, covering all salaried workers making up to about $50,400 next year. That’s good for workers who want fair pay, and it’s good for business owners who are already paying their employees what they deserve — since those who are doing right by their employees are undercut by competitors who aren’t.”

From La Crosse, Thursday afternoon:

(TRANSCRIPT ADDED BELOW THE FOLD)

Secretary of Labor Tom Perez:

On June 25, 1938, President Franklin Roosevelt signed the Fair Labor Standards Act to, in his words, “end starvation wages and intolerable hours”. In addition to establishing the first-ever national minimum wage (a modest 25 cents per hour), the FLSA enshrined the 44-hour work week, later reduced to 40, mandating time and a half overtime pay for anything beyond.

But the overtime regulations haven’t been meaningfully updated in decades. An exemption from overtime eligibility originally meant for highly-compensated, white-collar employees now applies to workers earning as little as $23,660 a year — below the poverty line for a family of four. In 1975, 62 percent of full-time salaried workers were eligible for overtime pay; but today, only 8 percent of full-time salaried workers fall below the salary threshold and are automatically eligible for overtime pay.

Today, 77 years and five days after FDR signed overtime pay into law, President Obama announced the release of a new proposed rule that, once final, would extend overtime protections to roughly 5 million workers. As proposed, it would set the new salary threshold at the 40th percentile of full-time salaried workers, projected to be about $970 a week (or $50,440 a year) in 2016, more than double its current level. And by automatically updating the salary threshold to keep pace with inflation or wage growth, the proposal would guard against erosion of overtime pay in the future and provide more certainty for businesses and employees.

(Full Department of Labor blog post below)