Posts Tagged ‘Economy’

Obama Vows to Stop America’s Shitty Jobs From Going Overseas

September 18, 2008
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Cuba to abandon salary “equality”

June 12, 2008

Somewhere, a bunch of middle and upper class people who have no concept of the poverty most Cubans live in, are wailing. Cuban officials are apparently catching on to what free-market advocates have known for decades. Marxism has been berry, berry bad. Good for Cuba.

Cuba to abandon salary equality

Cuba is to abolish its system of equal pay for all and allow workers and managers to earn performance bonuses, a senior official has announced.

Vice-Minister for Labour Carlos Mateu said the current system – in place since the communist revolution in 1959 – was no longer “convenient”. He said wage differentiation should improve production and services. President Raul Castro has introduced a series of reforms since succeeding his ailing brother Fidel in February.

Writing in the communist party newspaper Granma Mr Mateu said workers would receive a minimum 5% bonus for meeting targets but with no ceiling on salaries. Managers could earn a 30% bonus if the team working under them increased production, he said.

The minister pointed out that the current wage system sapped employees’ incentives to excel since everyone earned the same regardless of performance.

“It’s harmful to give a worker less than he deserves, it’s also harmful to give him what he doesn’t deserve,” the newspaper article said.

But the impact in terms of purchasing power will be limited, the BBC’s Michael Voss in Havana says.

The average wage in Cuba for everyone – from doctors to farm labourers – is about $20 (£10) a month. Even before the recent sharp rise in oil and food prices Cuba was spending billions of dollars on imports, and that bill is likely to rise sharply, our correspondent says.

So far most of the reforms announced since Raul Castro took over the presidency have involved lifting restrictions such as the bans on mobile phones and computers.

The latest change is a more fundamental challenge to Marxist economic orthodoxy, our correspondent adds.

Detroit Houses Cheaper than Cars–UAW labels all houses as “scabs” and automatically demands a pay raise.

June 3, 2008

Cheap houses and unlicensed handguns at record levels in Detroit. Thanks to our friends at Students for a Free Economy (SFE) who not only provided the link, but also wrote the best headline. “Homeless and living in your car? Cheaper alternatives are here!”

Let’s hope that Jennifer Granholm and the state Dems can tax us out of this.

If only there was a solution for both of these problems…..

If you live in Chicago, your gas prices might have something to do with how various government agencies are screwing you with taxes

May 23, 2008

I know it’s not as convenient as blaming oil companies, but various governments charge record high taxes on your gasoline