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no, you missed the entire picture....who's fault is it that the food stamps system is a joke in Puerto Rico and the States?........isn't congress that makes the rules and signs the checks?
Who's fault is it that congress decided for 100 years to disenfranchised 4 million U.S. CITIZENS in a U.S. TERRITORY with a different tax rules than the 50 states?
When congress stops doing things for political votes and does what is the good of the country you can come here and complain about Puerto Rico and ignore the other 50 states.
You think the U.S. has a 18 TRILLION debt and growing everyday because of Puerto Rico? LOL
The problem in Puerto Rico is not the lack of cops or teachers because people don't pay enough taxes. Puerto Ricans in the island pay lots of taxes directly and indirectly. The problem in Puerto Rico is that the government has more government employees than the state of California and the math doesn't add up and it doesn't matter how much you raise the taxes for the working folks who are trying to make ends meet, underground economy or not.
California has 38 million residents not counting the millions of illegals.
Puerto Rico has less than 4 million residents but its P.R. who has more government employees than the state of California.
See the problem?....and is not for the lack of taxes......you can raise taxes in P.R. to 90% and kill the incentive to work and kill investments and still that wouldn't pay for that huge government.
The problem in Puerto Rico is NOT the underground economy, its GOVERNMENT! both the local and the feds.
Last edited by Hellion1999; 08-12-2015 at 10:36 AM..
you think the U.S. has a 18 Trillion dollar debt because 40 people in Puerto Rico got busted for S.S. fraud? like that doesn't happen in the 50 states with Medicare fraud.
did you know the I.R.S is losing billions a year on FEDERAL INCOME TAX FRAUD in stolen Identity? 60 minutes did a report on this and the I.R.S. and the FEDS have no clue how to stop it and you can't blame Puerto Rico since the majority of Puerto Ricans in the island don't file federal returns.
Hope you watch the 60 Minutes report and then comeback here and complain about 40 people who got busted in P.R. for Social Security fraud which is peanuts compare to the fraud in the 50 states.
That would require the creation of an additional 200,000 jobs, and that's just to break 50% labor participation.
To reach a more respectable, but still substandard, 55% (the Dominican Republic is at 56%) would take another 100,000 jobs. That is, 200,000 to get back to the 2006 level and 300,000 to get out of the global LPR gutter, for a total of 500,000 new jobs.
The economic impact of such job creation, or reversing the nearly 70- year LPR funk, would be absolutely game-changing. Said differently, the damage caused by having a majority of the island's working-age population permanently unemployed is enormous, since it creates:
A huge base of consumers with weak purchasing power, hurting business growth.
A large group of people engaging in criminal activity, keeping quality of life low and making Puerto Rico less attractive as a place to visit and do business.
A gigantic underground economy where business activity is, by nature, small, unproductive, tax-evading and, in large measure, drug-related and illegal.
Depressed tax revenue, severely limiting the ability of the government to solve such social problems as health, education and infrastructure which, in turn, would improve business and lead to growth.
Worst of all, are the hundreds of thousands of people, from one generation to the next, who fail to reach their full potential and help the island grow in untold ways— lost innovators, investors, teachers, leaders, entrepreneurs and more.
"To the extent the labor-participation rate drops and the productivity of employees doesn't make up for the loss, the economy's potential is reduced," said economist Alfredo González, former head of UPR-RUM's economy department.
With fewer people generating income from productive work, there is more dependence on their working fellow citizens, undercutting consumption and economic well-being, he explained.
The amount of people on the public dole is staggering. What will crush PR? Wait till Cuba starts getting the American tourists.
the Cuban Myth.....yeah! like Cuba is the only island in this hemisphere that Americans will go for vacation. We waited soooooo long 50 years to go back to Cuba there isn't a nice tropical place with beaches anywhere.....lol
you should see the people on the public dole in the U.S.......18 trillion dollars in debt and you don't say a peep but make a big deal about Puerto Rico?....lol
Puerto Rico inflation rate is below 2%. Min wage is $7.25 Per capita $28,300 (and some Puerto Ricans and the media paints it like its the end of Puerto Rico, Puerto Rico's sky is falling)
lets compare that to the rest of the Latin Republics:
Argentina: Inflation rate is above 40%. $3.84 min wage per capita $13,200
Venezuela: Inflation is 96%. 23 cents min. wage per capita $6,700 (and that's with all their oil)
Chile: Inflation 5%. $2 min wage per capita $14,900
Mexico: inflation 4% 62 cents min wage per capita $10,200
Uruguay: Inflation 9% $2.15 min wage per capita $17,000
Brazil: Inflation 10% $1.90 min wage per capita $11,200
Panama: Inflation 6% $1.22 min wage per capita $12,700
Cuba: Inflation 6% 5 cents min wage per capita $6,900
Costa Rica: inflation 5% $1.84 min wage. per capita $10,800
Colombia: Inflation 3% $1.55 min wage per capita $8,900
Dominican Republic: inflation rate 3% 39 cents min wage per capita $5,900
Haiti inflation 6% min wage 35 cents min wage per capita $900
Ecuador: 5.5% inflation $2.38 min wage. per capita $6,300
Guatemala:: 4% inflation $ 1.22 min wage....per capita $3,300
Bolivia: 5% inflation....$1.09 min wage.....per capita $3,100
Honduras: 5% inflation.....1.01 min wage....per capita $3,379
You compare P.R. in data and numbers and is well above any Latin Republic......where P.R. falls lower its against the 50 states but then again a territory was never intended to have better data and economy than a state. That's why 37 territories petitioned to be states..............P.R. has problems like any country but you have to put things under perspective and P.R. is doing well under a territory in economic numbers and purchasing power with a strong American Dollar compare to Latin Countries.
Don't let anybody fool you......under U.S. safety net standards, 80% of the world would qualify for food stamps and government assistance.
Last edited by Hellion1999; 08-14-2015 at 09:56 PM..
the Cuban Myth.....yeah! like Cuba is the only island in this hemisphere that Americans will go for vacation. We waited soooooo long 50 years to go back to Cuba there isn't a nice tropical place with beaches anywhere.....lol
you should see the people on the public dole in the U.S.......18 trillion dollars in debt and you don't say a peep but make a big deal about Puerto Rico?....lol
18 Trillion in debt supporting the Isla! Hopefully Trump wins and starts supporting AMERICA.
18 trillion in debt? Guys, we should probably let the US go free.
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