I'm a fan of data. It tells businesses what is working and areas that need improvement. It's impartial and objective.
Too many companies are not using it enough or effectively. If you've ever watched Shark Tank you know what happens to entrepreneurs that don't "know their numbers". Most times it is being collected, but either not analysed or used efficiently.
So what does this have to do with getting rid of minimum wages? Simple ... replace state and federal minimum wages with ones based on city consumer indexes. Yes, not even county-based indexes. The data is telling you the current method is not impartial or effective.
Let's look at an example of 2 cities in New York ... Rochester and New York City. The cost of living difference is extreme. It is an extreme example, but it points out what I'm trying to get at. These massive disparities can be found in thousands of cities in states throughout the US.
Even a 20% difference in the labor rate of a store (they may be subject to) can make or break a small business.
So what types of indexes am I talking about:
Sports And Leisure
Clothing And Shoes
Rent Per Month
Buy Apartment Price
Salaries And Financing
So what happens when you try to legislate new state minimum wages across a state ....
It's not smart use of data and actually me chuckle when I read it. Now I admit there are some purchases that are the same for all consumers wherever you live. The base price of an iPhone6 on Amazon does not change depending on what state you live in. That's true, but this is for minimum wage requirements.
I'm not saying some workers should or should not be paid $15 ... I'm saying objectively and impartially whatever the data is telling me it should be.
My point is this ... states, companies, families, the federal government .... use your data. The more granular you get with your data the more it tells you what is going on. Summaries, totals, and averages don't tell the story they are merely the headline.
Thank you for your time & attention
- Mark Massing
Who am I? I have been in Internet Marketing since 2004. My background is in programming and am a huge fan of data analysis and automation. My specialties are email marketing and data monetization.