6A Identifying Opportunities in Economic & Regulatory Trends
1. Regulatory:A judge blocked Obama's expansion of overtime pay
- http://www.latimes.com/business/la-fi-qa-overtime-pay-20161201-story.html
- Opportunity: In 2016, a change in overtime pay was suggested, but not passed by the judge assigned to the case. Current overtime laws mandate that the salary threshold for the mandated overtime pay is $23,660. The proposed change was to increase the mandated threshold to $47,476. This change was not passed, but this law would significantly change the amount of hours that mid-wage workers would be able to work overtime. I saw this opportunity because a this range of income includes a large portion of workers in the US, so it would benefit a huge group of the population.
2. Regulatory: 7 Key Changes to retirement plans
- http://www.benefitspro.com/2017/11/22/7-key-changes-to-retirement-plans-under-the-house
- Opportunity: Recent changes were passed to reform retirement plans. This change affects the transition from a traditional IRA to a Roth IRA, extension of paying back 401K loans, leveling age, and more benefits for seniors enrolled in a retirement plan. I found this opportunity, because many issues in retirement policies have actually affected my grandparents personally, so these changes benefitted a large portion of senior citizens.
3. Economics: Equal pay & the wage gap
- https://nwlc.org/issue/equal-pay-and-the-wage-gap/
- Opportunity: A major socioeconomic issue that has affected and continues to be an issue for our country is the wage gap between men and women. While the US has made significant improvements in the area of women's rights, there is still an issue in certain markets for a gap in pay between men and women. This problem became apparent to me, when I worked at a job, where I did more work, devoted more time, and, overall, did my job better, but made less money. There is an opportunity for a solution for a more equal assessment of the job performance, to assess more equal payment.
4. Economics: Internet Sales tax
- https://www.nolo.com/legal-encyclopedia/50-state-guide-internet-sales-tax-laws.html
- Opportunity: There is currently an issue with deciding on sales tax for internet sales. If something is bought in one state, it is undecided if the tax on the item should be the sales tax for the state it was bought in or the state is was bought from. This issue affects online shoppers all over the US and depending on how the tax compares, it may be cheaper depending on where the person lives.
Hi Nancy,
ReplyDeleteI found the articles that you chose very interesting and you made some great points while analyzing them. The first regulatory article that you wrote about was something that I hadn't heard of before. It puzzles me that someone in the judicial system would not want to aid middle-class working Americans. If someone wants to work their "buns" off and work extensive amounts of overtime, they should be allowed to do so and be compensated for it. This would help benefit many works, if not make life easier for them. Far too many people work too hard for very little and by simply changing this law and giving them more overtime pay could mean the world to them. Furthermore, I was very curious about the Internet Sales Tax article. Obviously, sales tax varies in different states but this is for physical purchases. I am intrigued to see whether this will pan out or if it will just be forgotten.
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ReplyDeleteNancy,
ReplyDeleteYou found some interesting and very contemporary regulatory and economic trends. When I was reading through your post, I tried to understand what kind of opportunities the trends could bring, which was a topic I wish you touched upon. I think that was part of the assignment and also really the point of it. For example, the benefits of the possible retirement reform may create opportunities within goods for the seniors, or the inequality in pay between the genders may create an opportunity for companies supporting and executing equal pay within the female employee market. Just a little piece of constructive criticism, but overall good analysis and fascinating trends!
Nancy,
ReplyDeleteThe aspect of the internet sales tax is very interesting, and I am very curious how it will be solved. Especially given the scope of the opportunity, since nearly everyone shops on the internet at least semi-frequently. All of these trends are very apparent in our society today, so how they will be resolved will effect nearly everyone. Great job with this post!