Important headlines for January 2nd:
Bottom Line: These are stories you don't want to miss and my hot takes on them...
Excerpt: The number of credit card skimmers found at Florida’s gas stations is exploding as criminals are emboldened by new technology that makes it even easier to steal credit card information from unsuspecting motorists.
New devices found on the streets include wireless Bluetooth technology that allows data to be collected without accessing skimmers, or skimmers inserted right into the credit card slot. Gas stations have been also slow to adopt higher security chip credit cards because of the high cost of installing the hardware. Often, entire gas dispensers need to be replaced or expensive retrofits are required.
Hot Take: Credit card skimming is nothing new. Not at gas pumps or even at stores (even Publix fell victim a couple of years ago). 2017 was a record year for a scam that's not new. According to the Florida AG department. Nearly 650 skimmers were discovered on gas station pumps last year. That's a huge jump from the 219 of 2016 meaning that your odds of becoming a victim are about three-fold what they were a year ago. What's more is that over 40% of all activity has been in Miami-Dade, Broward and Palm Beach counties. Lucky us. In fact, the most recent bust happened last Wednesday when two men from Hialeah were busted at a Marathon in Aventura.
My wife Ashley has twice been nailed over the years. Once by a skimmer at a pump and a second time by handing a card to a gas station attendant (who was in on the fix) after the pump wouldn't accept her card. It's unlikely this problem's going away anytime soon, especially with new technology being brought to the scam so it's important to never use a debit card at a gas station. It's one thing if your credit card is hit and you have to have it canceled and reissued. It's a much bigger deal if the money is stolen straight out of your bank account and you have to attempt to recover it.
Minimum wage workers get 1.85% hourly raise - Miami Hearld
Excerpt: Florida workers who earn minimum wage get a 1.85 percent hourly raise to start the new year.
The state’s minimum wage will increase to $8.25 an hour Monday, 15 cents higher than the current rate of $8.10. Under a state constitutional amendment passed by voters in 2004, the Florida Department of Economic Opportunity adjusts the wage each year based on changes in a federal consumer price index.
The wage applies to all Florida workers who are covered by the federal minimum wage, according to the Department of Economic Opportunity. But the city of Miami Beach wants its minimum wage workers to earn even more.
Miami Beach wants the Florida Supreme Court to take up a battle about whether the city can move forward with a local minimum wage. The city last week filed a notice that it is appealing a Dec. 13 decision by the 3rd District Court of Appeal that rejected the local minimum wage, which was approved in 2016 and was to take effect in 2018.
Hot Take: To the extent that there's a purpose to having a minimum wage we do it the right way in Florida. It's indexed to inflation and automatically adjusts accordingly. That hasn't been good enough for Miami Beach officials who have a real goal of attempting to raise the minimum wage to $13.31 over the next three years. Thankfully the courts have stopped Miami Beach from repeating mistakes made by cities like Seattle for now. Here's the thing. This isn't really about minimum wage workers in Miami Beach. It's about union contracts.
Nationally, only 701,000 people earned minimum wages in 2016. There are 157.8 million Americans working. That's 4 tenths of 1% earning the minimum wage. Not even half of 1%! In Florida we have about 181,000 minimum wage workers despite a minimum wage that's now a dollar per hour above the federal minimum wage. With over 9.8 million Floridians working that means that just 1.8% earn Florida's minimum wage which is 14% higher than the national average. What's more is that the number in Miami Beach earning minimum wage is negligible. So, what's this really about? Most union contracts have automatic raises baked in for all workers if there's an increase in the minimum wage. Attempting to raise the minimum wage is a way to get huge kicks for those who earn well above minimum wage and are political allies of these politicians attempting to get the increases. That's the dirty little secret of the minimum wage game/farces.
Taking Trump Seriously Roger Kimball, American Greatness
Hot Take: What a novel concept? Btw, while many weren't taking him seriously he delivered, at least in part, on all three top issues for Americans coming into his Presidency.
Healthcare: end of individual mandate
Taxes: Biggest reform in 32 years
Supreme Court: Neil Gorsuch
And btw, the economy is performing the best in 12 years. Welcome to reality.
Until tomorrow...