I have developed a ‘geo-fiscal living wage’ calculation, which considers the regional cost of living, affording people a living wage based upon the economy and COLA of the area in which they live. This basically means that the impractical ‘flat $15 per hour regardless of where you live’ proposal doesn’t consider ‘real life’ scenarios, and especially regional cost of living variables. The $15 per hour proposal may be too much for some areas, causing unemployment and even putting some businesses out-of-business, whereas in some of the larger cities – $15 per hour is still not a living wage!
My plan has a phased implementation to ensure there are no layoffs or business failures caused by the fiscal impact of a living wage, eliminating the negative effect on small to mid-sized employers and ensuring sustainable employment. Everyone wants to be self-sufficient, so we must remove the barriers to their success and provide more opportunity for people to help themselves.