Posted on 08/05/2015 2:18:21 PM PDT by Lorianne
SAN JUAN, Puerto Rico —
Most tables are empty at Walter Martin’s coffee shop in San Juan’s colonial district. His brow is furrowed with concern and glistens with sweat in the sweltering Caribbean morning.
He’s turned off the air conditioning to lower his power bill. With fewer customers, he’s cut staff hours and tried to make up the lost income by raising some prices. But Puerto Rico’s entrenched economic crisis is leading people to either cut their personal spending to the basics or flee to the mainland to search for jobs, contributing to the struggles of those left on the island.
Nearly 10 years into a deep economic slump, Puerto Rico is no closer to pulling out, and, in fact, is poised to plummet further. The unemployment rate is above 12 percent. Some 144,000 people left the U.S. territory between 2010 and 2013, and about a third of all people born in Puerto Rico now live in the U.S. mainland. Schools and businesses have closed amid the exodus. The population of 3.5 million is expected to drop to 3 million by 2050.
The government has tried to boost revenue by hiking the sales tax to 11.5 percent, higher than any U.S. state, and closing government offices. Its debt-burdened power utility already charges rates that on average are twice those of the mainland, and is under pressure from bondholders to raise them higher.
(Excerpt) Read more at miamiherald.com ...
Detroit<<Puerto Rico<<Illinois<<USA
Solution seems obvious to me.
1) Build a nuke plant
2) Cut taxes
That's the way to go - tax yourself to prosperity.
I know: windmills and solar panels.
That will help the economy.
Plus taxing your way to prosperity with an 11.5% sales tax.
Question for their government: what have you done for small business, lately?
Here it comes.....
We have to bring them all here.
Will it never end?
The two parties who run the government are the New Progressives and Popular Democrats. I’d have to assume they are parallel to the two wings of the mainland Democratic Party, the Standard Socialist Democrats and the Why Can’t We Be More Like Stalin Democrats. Of course the island is going to Hell.
We stayed there in January on the night before a cruise.
One block away from the swanky hotel and we were wishing we had an AR-15.
Sounds like a solid businessman. Business drops, so he raises prices. (And cuts off the air conditioning to promote the sale of hot coffee).
Like everyone else in the world, the only reason they’re miserable is because they can’t come and live in mean, capitalist, racist America that was founded by dead white men.
This makes sense to liberals.
Sounds like Obama should be down there showering them with awards. This is just what he wants for the rest of us.
Why should I feel bad for these people?
People like me warned them that Socialism doesn’t work.
And they took snide, condescending tones as they voted for it anyway.
So you Puerto Ricans can enjoy your government. It’s exactly what you wanted. :)
Yeah, but a lot of their Socialist tendencies came from FDR's appointee way back.
“My travel agent said I could spend 6 nights in Puerto Rico. No days, just nights. I asked him what do I do during the day, and he said, ‘I don’t care what you do, just stay out of Puerto Rico.’” - Rodney Dangerfield
My opinion... PR downward slide began shortly after the Navy left. The local govt forced the Navy to Turn Vieques Island back to the locals. The Navy basically said if we can’t have vieques to use for weapons practice, we reall don’t need NAS Roosevelt Roads either, so, ta-ta! The navy contributed billions to the economy. Classic case of be careful what you wish for...
We’re short of no-English speaking immigrants.
We clearly need more. From WHERE EVER.
Venezuela, American style?
“”or flee to the mainland to search for jobs””
What mainland?????
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