OPINION: Biden’s attack on gig work is an Uber mistake
FOX Business' Stuart Varney weighs in on President Biden tightening rules on independent contractors.things worse. Last week, the Department of Labor announced a new rule that would curtail the use of contractors and freelancers – the heart of the "gig economy."
The reality is this regulation will increase prices further at a time when inflation on necessities is crushing Americans.and, make no mistake, this act of faux benevolence will strip individuals and families of autonomy over their own lives. The rule is subject to a 45-day comment period, and the American people need to be loud in saying "thanks, but no, thanks." This rule will drive up the cost of everything as the gig economy is far more than ride sharing and food delivery.
Here’s how that’s going to happen. Everything has a cost, and the person who pays it is the consumer. When a business is forced to provide insurance and pension plans, paid vacation, sick days and disability insurance to employees, those costs are ultimately paid by the customer. Conversely, since independent contractors work for themselves, they don’t have to incur these costs and can pass the savings onto us.
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