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Bernie Sanders Wants a Day Off

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President Joe Biden meets with Senator Bernie Sanders (I-VT), Wednesday, August 30, 2023, in the Oval Office. (Official White House Photo by Adam Schultz)

Sen. Bernie Sanders is attempting to pass a law that would shorten a full work week from five days (40 hours) to four (32 hours). Jennifer Liu reports for CNBC:

The act would shorten the standard workweek over four years by mandating that overtime pay kicks in after 32 hours worked in a week, down from the current 40. Those who work more than 8 hours in a day would get overtime pay at time-and-a-half, and those who work more than 12 hours in a day would be entitled to double their regular pay.

Today’s 40-hour workweek has been federal law since 1940 following the passing of the Fair Labor Standards Act. Proponents of a shorter workweek say advances in technology have made workers more productive, but have not resulted in higher wages or time back.

Action Line: Of course, Uncle Bernie wants a four day work week. He never had a job in his life, and he never had to make a payroll. Business owners and consumers know that artificially raising wages distorts the economy and ultimately places new burdens on consumers. Just look at the minimum wage. America is a capitalist country, no matter how badly Sanders wishes it weren’t so. Price floors and quotas will only make things worse for small businesses and consumers. Click here to subscribe to my free monthly Survive & Thrive letter.

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E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West (RIP JB) and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com To sign up for my free monthly Survive & Thrive letter, click here.

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