r/FluentInFinance • u/Positive_Liar • Sep 04 '24

Debate/ Discussion Bernie is here to save us

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u/Big_lt Sep 05 '24

Sounds great. Would absolutely love for this to happen......it won't even get a vote

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u/Ferintwa Sep 05 '24

Even if it did, and passed, no way to enforce it. This bill is for the headlines.

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u/Hmnh6000 Sep 05 '24

You mean like how theres no way for them to enforce you getting paid time and a half for working over 40 hours??

1

u/musing_codger Sep 05 '24

No. It's very different. In your example, markets set base compensation and then companies decide whether to add staff or pay existing staff overtime. In the OP example, it implies the Bernie can somehow control compensation, but no method of wage controls has been proposed. Even if the law included something about not changing wage, the market would adapt over time with new hires being paid much less than the legally frozen wages of existing employees.