Venezuela’s Maduro hikes minimum wage for fifth time in a year

Venezuela’s socialist President Nicolas Maduro announced on Sunday a 50 percent hike in the minimum wage and pensions, the fifth increase over the last year, to help shield workers from the world’s highest inflation rate. The measure puts the minimum monthly salary at 40,683 bolivars – about $60 at the weakest exchange level under the state’s currency controls, or $12 at the black market rate.

Source: Venezuela’s Maduro hikes minimum wage for fifth time in a year

  • Tom P.

    Socialism always works well for the men on the top. Why is it that they keep experimenting with the same old problem, human greed. Many people will say that capitalism is a true form of greed, but capitalism requires work where socialism does not. Socialism is the system where the citizens expect the government to supply their needs and the government expects entrepreneurs to supply the government with what it takes to keep the government afloat.
    The ideas to tax the rich until everybody is poor.