Barack Obama poised to hike wages for millions

POLITICO quotes CEI`s Aloysius Hogan on the rule to raise the overtime treshold to be proposed by the Labor Department:

Aloysius Hogan, a senior fellow at the conservative Competitive Enterprise Institute, said it will have a “job killing effect.” Hogan said businesses will be incentivized to lay off higher-paid executives and replace them with lower-paid workers.