In Puerto Rico’s “market”, the profits are repatriated to the U.S. Yet. The majors are making a killing!! #SavePuertoRico …..
Puerto Rico owes a huge $73 billion public debt. This is due to a colonial relationship with the US that does not permit Puerto Rico to develop her own self-sustaining industries. Puerto Rico is principally a market, with all the profits repatriated to the US.
But there is another dynamic that is killing the island. Since there is no real economy, the government is the greatest source of employment on the island. Puerto Rico has created an infrastructure of public employment, and public corruption, that is draining everyone on the island.
The biggest example is the 78 mayors of Puerto Rico.
The island has only 3.6 million people on it – but it has 78 mayors. That’s one mayor for every 46, 153 people, and the average salary for each mayor is $68,194. Their collective salary is $5,319,132.
Here is a partial listing of the monthly salaries of some…
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