Friday, July 6, 2007

Minimum wage vs Commision

I do not know about you but I am not sure about paying minimum wage to loan officers or pay them just commission.

Department of Labor Opinion Letter on Outside Sales Employees (March 31, 2006)

Wage & Hour Guidelines presented during the 2005 Legislative Conference (April 11, 2005)
Fortney and Scott Attorneys at Law Opinion Letter

Outside sales employee vs. inside employee Huh? When I read legal things I do not feel to bright. But after reading all this legal stuff I know what I am going to keep doing, but I am still not sure what is right and what is wrong.

New Minimum Wage

H.R. 2

SEC. 101. MINIMUM WAGE.

(a) In General- Section 6(a)(1) of the Fair Labor Standards Act of 1938 (29 U.S.C. 206(a)(1)) is amended to read as follows:
`(1) except as otherwise provided in this section, not less than--
`(A) $5.85 an hour, beginning on the 60th day after the date of enactment of the Fair Minimum Wage Act of 2007;
`(B) $6.55 an hour, beginning 12 months after that 60th day; and
`(C) $7.25 an hour, beginning 24 months after that 60th day;'.
(b) Effective Date- The amendment made by subsection (a) shall take effect 60 days after the date of enactment of this Act.

Another Words
July 24th 2007 the minimum wage goes to $5.85
On July 24th, 2008 $6.55
On July 24th, 2009 $7.25


Nice way to raise taxes without raising taxes