Looking at the future, I expect the only lasting result of ObamaCare will be to standardize the work week at four seven hour days a week.
Many businesses will adjust their hours so they are only open 28 hours a week, say from 9 AM to 4 PM Tuesday through Friday. Others will open 56 hours a week, and still others will combine shifts to be overstaffed during rush periods.
Since we have some 40 million Americans who would work if they could find a job, finding extra hands to keep stores open the extra hours should not be a problem. Most people will work 28 hours for the “Here Company,” and then work anything from “part time” to a full 28 hour work week at the “There Company.”
How about pay? I have bad news. “Money” still reflects the labor put into earning that “medium of exchange.” The dollars per hour on American’s paychecks will get bigger – but if the tax rates do not change the buying power of a 28 hour paycheck will still remain the same.
But the tax rates will increase – boosting people into higher tax brackets is the real reason the pols increase the minimum wage.