in collaboration with Spotlight on Poverty and Opportunity
Adjust minimum wage monthly to regional cost of living
From: Vincent M., Marshalltown, IA
Rather than sponsoring minimum wage increases from time to time, we should computer index the minimum wage to a cost of living index of real time prices. This index would include region-specific costs of basic foodstuffs, rent and public transportation, and this index average would kick in automatic minimum wage increases or decreases. This would have been impossible to do in the past, but software and online price access make this both feasible and easy today. The advantage of this indexed and region-specific wage is that the immediate catch-up price hike by producers would be unprofitable.