BloggeRhythms

Today’s a quick about this Cortez woman in Congress whom I didn’t bother to research personally, but either has no business experience herself, or if formally educated businesswise was out the day they taught U.S. business history, economics, or anything else related to how enterprise works in this nation.

Two article links on the Drudge Report this morning prompted the subject, placed one over the other on the far right hand column on the page, as follows:.

AOC: 'Capitalism not redeemable system for us'...

Cuba slaps new tax on food sales as economic woes hit hard...

The article regarding Cuba @news.yahoo.com is headlined “Cuba slaps new tax on food sales as economic woes hit hard.” The posting provides about as good an example of results for populations from governmental structure as one is likely to find.

“Cuba on Saturday announced a new 10 percent tax on retail food sales, as the country endures economic woes marked by rampant inflation.

“The levy taking effect Monday will target self-employed people and small- and medium-sized companies in the retail food sector, said the decree published in the official government gazette. These sales were only allowed starting in August of last year as part of reforms in the communist run island.”

Most important about the Cortez woman’s misconception regarding basic economics: “Cuban economist Pedro Monreal wrote on Twitter that the new tax will probably have two effects: higher food prices and more inequality among the Cuban people.

“Monreal said it will hurt "lower income households that spend a relatively higher percentage of their resources on food."

And here, she should pay special attention "Monetary reforms applied last year caused prices of goods and services to shoot up in Cuba, mainly those of food. Inflation last year came in at 70 percent.

“People have to wait in long lines for scarce supplies of food and medicine.

Regarding Cortez personally, it’s also truly amazing that as a member of Congress herself, she appears to know  virtually nothing about the structure of the nation’s economy or business ownership statistics. 

The article quotes her as follows: "Capitalism is not a redeemable system for us: "AOC says capitalism does not benefit the vast majority of Americans and is a system run by a wealthy minority."

Yet, according to the latest government statistics: “Small businesses make up: 99.7 percent of U.S. employer firms, 64 percent of net new private-sector jobs, 49.2 percent of private-sector employment, 42.9 percent of private-sector payroll, 46 percent of private-sector output.”

Also, according to the U.S. Small Business Administration, “small businesses create over 66% of net new jobs.”

But in reality, the Cortez woman’s lack of knowledge is not truly a threat to her employment. Because it’s more than likely that her constituency attended the same sort of schools she did, which means they don’t know a whit about anything of importance either.

That’s it for today folks.

Adios