One more time President Obama seeks to buy Democratic votes with a free lunch by appealing to workers

Promising more overtime pay, to go into effect in 2016

Raises the threshold for overtime pay requirements

Workers who earn salaries of $50,000 or less must be paid overtime for hours worked over 40 hours per week

This prevents workers who put in extra hours on their own time to try to advance

This could cause employers to reduce salaries to factor in overtime

It will be harder for employers to change existing work agreements

This will adversely affect workers on flexible schedules, such as those who work at home in 2016

Employers will have to seek more control over workers' schedules

New law will disproportionately hurt women, the very constituency Democrats claim to protect

Those who have variable workloads throughout the year will be adversely affected

This law eliminates choice and increases costs, but it's great politics

Followup on Puerto Rico: Minimum Wage

Puerto Rico is an example of the adverse effects of a minimum wage law that has devastated an economy

Puerto Rico's has more than 20% unemployment

Puerto Rico labor force participation rate is 42-43%

The minimum wage has priced out more than half of the labor force

There is no entry level work in Puerto Rico

If the minimum wage is so good, why does it not work in Puerto Rico?

Puerto Rico is a real-life case study on the adverse effects of minimum wage laws

Puerto Rico's only advantage is its tax law for incoming businesses which will increase demand for labor

Recent comments on my last podcast questioned my support for Puerto Rico

I never advised buying Puerto Rican debt - I knew it was a problem

It makes sense to move to Puerto Rico to take advantage of the new tax laws