Florida’s Inflation-Indexed Minimum Wage

The federal minimum wage, unlike social security and and many tax code provisions, is not adjusted with inflation every year. However, several states including Florida, adopted this practice of adjusting the minimum wage with increases in the consumer price index in order to stabilize low income earners’ purchasing power. What are the effects of an inflation-indexed minimum wage in regards to employment and is this practice effective in Florida?

Continue reading “Florida’s Inflation-Indexed Minimum Wage”

Thaw in Cuban Economic Sanctions May Heat Up Florida’s Economy

As a Cuban-American, I am torn with the other economic and social implications from relaxed relations between the US and Cuba. However, I am an avid believer in building a middle class through a better economic system in order to make social change happen. Let’s see where it goes!

The DeVoe L. Moore Center Blog

By: Roberto Cordovez*

Cuba's President Raul Castro (L) speaks during a meeting with US President Barack Obama on the sidelines of the Summit of the Americas at the ATLAPA Convention center on April 11, 2015 in Panama City. AFP PHOTO/MANDEL NGAN (Photo credit should read MANDEL NGAN/AFP/Getty Images) Cuba’s President Raul Castro (L) speaks during a meeting with US President Barack Obama on the sidelines of the Summit of the Americas at the ATLAPA Convention center on April 11, 2015 in Panama City. AFP PHOTO/MANDEL NGAN (Photo credit should read MANDEL NGAN/AFP/Getty Images)

Pope Francis’ trip to Havana has put Cuba back in the spotlight as America continues journey toward normalizing relations between the two nations. While most believe normalization will be a boon for Cuba’s economy, few have explored the implications for Florida’s economy.

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Privatize the Florida Retirement System

Pensions have led state fiscal health on a downward spiral toward insolvency. Here is Dr. Holcombe with a viable solution for Florida’s pension system.

The DeVoe L. Moore Center Blog

By Randall G. Holcombe, Ph.D.

pension-379671Over the past few years both Governor Scott and several members of the Florida legislature have been pushing the idea of transforming the Florida Retirement System (FRS), which pays pensions to retired state workers, from a defined benefit system into a defined contribution system.  A defined benefit system, which covers most state workers today, pays a specific monthly benefit determined by the number of years worked and the worker’s salary leading up to retirement.  A defined contribution system pays a certain amount every year into an account owned by the employee, and the pension amount is determined by how much money the retiree’s account has accumulated in contributions and earnings on those contributions.

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The Cost of a Government Shutdown: Political Games with Serious Consequences (Late Post)

Bi-partisan politics may lead to another government shutdown, with potentially devastating effects for the economy.

In lieu of the September 30 deadline for Congress to finalize the budget for the government, Planned Parenthood has become the hot button that may lead to yet another government shutdown. With the looming possibility of a government shutdown, it’s time to take a look at how this would affect the economy and our pocketbooks.

Quick hint: It ain’t pretty. Continue reading “The Cost of a Government Shutdown: Political Games with Serious Consequences (Late Post)”

It Ain’t Over Till the Fed Lady Yell-en

Janet Yellen, the Fed Queen, announced on Thursday, September 17, that the mother of all interest rates would stay put. No surprise, but does this mean the economy is still in recovery mode?

The Federal Reserve has decided that increasing the federal funds rate at this time would not be the best move. In 2008, the Fed brought down the fed funds rate to 0.25 percent due to the financial crisis in the Great Recession. Seven years later and we’re still at that same rate. What does this all mean?

Continue reading “It Ain’t Over Till the Fed Lady Yell-en”

Florida’s Inflation-Indexed Minimum Wage

The federal minimum wage, unlike social security and and many tax code provisions, is not adjusted with inflation every year. However, several states including Florida, adopted this practice of adjusting the minimum wage with increases in the consumer price index in order to stabilize low income earners’ purchasing power. What are the effects of an inflation-indexed minimum wage in regards to employment and is this practice effective in Florida?

Continue reading “Florida’s Inflation-Indexed Minimum Wage”