Monday, October 25, 2010

Cuba coming to rely on PRIVATE sector to fuel its economy.

Here is a story that should set the lefty Communist Cuba lovers on edge. Cuba has decided that in order to generate revenue to help the struggling nation that they will in fact, you ready?, TAX business owners in the PRIVATE sector! That's right, people who will be working and earning money for personal gain will be the very ones who will keep the island afloat. Read here.

The Cuban government can call it whatever they like, but by doing this, they have completely acknowledged the fact that their system as it has been for the past 50 years HAS NOT worked. You CANNOT stifle entrepreneurship and have the majority of your workers working for the government. So, the remedy to this will be to tax the private business owners, most of whom I'm sure have been terminated from the public sector between 25 and 50% of their income to keep the country going. I can only imagine what that's going to turn into! Give enough people the ability to make it on their own and they WON'T suffer this for long! Once they have the taste of freedom that comes with being able to work and accrue their own personal wealth, they won't be so willing to hand it over. Let's just see how this all pans out!

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