An employee at a major bank in Florida was so grateful we passed 15 an hour min. She makes roughly 19 an hour and her son works in retail. She said how pleased she was that they would earn more money. I stated "how we going to make more money"? She went on to explain her 20 years of service is worth a lot more than min wage. I responded the 15 an hour is like food stamps, designed to help the poorest among us. She than asked the manager when they raise the min wage 1.5 will she get more money. To which she was told no, just the annual raise if available. It was at that moment she understood. Telling me if she could work at the zoo for 15 an hour why would she work in a high stress office. To which I responded "you wouldn't". In hind sight I should have said those making 100k would prolly get raises.
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You are assuming that it's a choice for the workers. OT pay was there to prevent exploitation which WILL occur. The easiest thing for employers to do right now is just classify you as salary. You still come in and punch the clock day after day but if you have to work an extra 4 hours, that's on the employee.
I'm not sure what you mean by taxing workers higher. I've heard a lot of people complain over the years that they pay more tax when they get overtime but I'm not sure how that is possible. Unless it bumps them into a higher tax bracket then they are not paying a higher % than they normally would. I think they just see that the Fed Withhold was bigger and can't figure out that is simply because they earned more.