Tuesday, July 7, 2015

The United States' Showcase of Economic Failure in its Own Backyard

Alan Yuhas' article on Puerto Rico, is one of the best I have seen lately. It describes life as it is right now for the US Citizens in the US Territory of Puerto Rico, right in the US backyard. 

For over 25 years we have been trying to get people in Washington, in the US and especially the US Press to inform them of this pathetic situation and help us take action to prevent this predictable economic crisis , but only when Puerto Rico has reached a point of no return and become a disaster area, are people reacting. 

Why is anyone surprised?
History has proven that there is no way that a territory, state, country or organization can survive where.....
  • The US Territory of Puerto Rico is coded at the IRS as a foreign country to serve as an Offshore Tax Haven for corporations. 
  • This also results in Puerto Rico's limited participation in Federal Programs.
  • The debt laden, low income, jobless, middle class in PR are the only ones who pay extremely high taxes, while the rich and multinational corporations do not, 
  • Corruption in government and private and public corporations  is rampant in PR and most get away with it. The Attorney General is selected by the elected governor. 
  • Decisions that affect Puerto Rico are are decided by a Congress where we are not represented, and by a President who we cannot vote for. 
How can the United States preach democracy to the world and remain amiss of the lack of democracy in Puerto Rico, USA? How can they get away with it.

As Congressman Don Young rightfully said.... Puerto Rico has all the ingredients for a revolution. This is today's Puerto Rico. This did not happen overnight.. Some people in Washington just do not want to see or hear about it.
MJR - 2001

Yet, we have not lost our faith in the American Dream. In 2001 when things were beginning to look bleak... I raised an American Flag on a pole in a busy street in Puerto Rico. It helped raise the spirits of the loyal American citizens in Puerto Rico. Today, an American Flag was placed in a busy highway in San Juan. It represents the loyalty and hopes of our citizens have always shown for our country, the United States. 
2015 Flag placed today
 by someone in PR

Thank you..
Miriam J. Ramirez

Puerto Rico's 'unpayable' debt: is this the Grece of the western hemisphere?
by Alan Yuhas
July 6, 2015
This once-prosperous corner of the Caribbean has fallen on hard times, with an inability to pay off crushing debt driving millions into poverty – and out of the country: ‘When the ceiling’s coming down you don’t wait to get squashed’ Economic exodus means two-thirds of Puerto Ricans may soon live in US

As Greece threatens the European order with its inability to pay a suffocating debt, Puerto Rico teeters on the verge of similar collapse. The crisis has driven millions of American citizens into poverty, out of their homes and – increasingly – on to the US mainland. Life on the island mirrors conditions in Detroit when the Michigan city confronted its $18bn debt – except Puerto Rico’s total bill amounts to $72bn.

Although Puerto Ricans don’t pay federal income tax – an attraction for companies – the island has raised local taxes, increasing the cost of living and warding many businesses away. Residents can pay as much as 33% in local taxes, gas prices hover over $3 a gallon, and the same amount of milk costs almost $7. In Miami, gas costs $2.80, milk nearly $3 less.

“Politically, economically and fiscally, it’s all bankrupt.”