~~December 3, 2017~~
IN THE MIDDLE OF THE NIGHT
~UNDER HARSH LIGHTS, ON LIVE TV~
I reviewed the article referenced below.
There are many sectors in the population that are going to be affected by this Draconian, monstrous, ‘sweeping overhaul’ passed in the American Senate.
At minimum, it was a covert, nonpartisan, unfair, poorly evaluated bill. It still has to go through several processes before it reaches the Buffoon’s desk for his signature.
As I read, I became more and more concerned but it reach the deepest part of my heart when I saw how Puerto Rico will be one of the many losers of this unprecedented ‘legislation’.
Republicans in the Senate passed a sweeping overhaul of the U.S. tax code, on December 2, the largest change since Ronald Reagan’s presidency. The bill zipped through the process in a mere three weeks.
It’s still not a totally done deal though, as substantial differences between the House and Senate bills need to be ironed out before ‘so-called president Drumpf’ can sign the final piece of legislation into law.
But there’s little doubt this is a major victory for Drumpf.
~Winners and losers in the Senate GOP tax bill~
A Running List
The island that was devastated by Hurricane María this fall now might lose some of the few big businesses that remain on the island if the GOP tax bill gets enacted.
The reason is that Puerto Rico would no longer look so advantageous as a place to do business compared to the rest of the United States.
Puerto Rico’s governor is trying to push for the island to be deemed a “free trade zone,” but that was not included in the legislation released before passage.
~CATASTROPHIC FOR PUERTO RICO~
Friday, December 2, was the day the U.S. banged the last nail on Puerto Rico’s coffin.
The consequences of the new tax reforms for the Island?
Puerto Rico will be treated like a foreign, not domestic for exportation purposes.
This means a 20% additional tariff, making Puerto Rico non competitive for businesses already established on the Island.
We are at risk of losing 60,000 direct jobs and 250,000 indirect jobs that serve these companies.
That in turn, wipes out $2,000 million dollars from the Island’s yearly tax revenue, used for roads, safety, education, etc., among other monies. It mostly affects manufacturers in towns on the Island, away from the metropolitan area, and who employ a high percentage of women, who are the sole breadwinners in the family unit, or as we label them, single mothers.
The domino effect this brings will leave many in abject poverty after being already devastated by hurricane Maria.
I personally would prefer my country getting back on it’s feet by establishing a robust economy, with decent salaries, using the incredible amount of well educated and talented people we have.
If the US takes no steps to take in consideration the opinions of local and stateside economists, it needs to prepare to accept a shitload of people who have a strong history of voting on the Island and will change the political color of government in many states. Florida is a great example. They expected 100,000 Puerto Ricans and at this moment 200,000 and counting have arrived. By the way, there are no airline tickets available till January.
It would be wise for Congress and the Senate to take this in consideration. People are having to leave their homeland and are not happy. Voting will be payback and it won’t be pretty.
I have tried to explain in very simplistic terms, it’s much more complicated and, like an iceberg, what lays under the surface is horrific.
Just sayin’ …
The USA must remember that all the Puerto Ricans in America can and will vote and will not forget their families in the island. Puerto Rico is suffering a major humanitarian crisis, where there is no electricity or water in many towns. The ‘supposedly’ biggest power in the world, after 70+ days, hasn’t being able to restore electricity, water, fix roofs of those who have lost everything. Many people lost their houses and everything in it. Many have yet to see FEMA officials or gotten any help.
This is unacceptable and a disgrace!
After all this ‘no service delivery’ and lack of humanitarian help, what taxes are they expecting to get?
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No intention of taking credit.
If anyone knows the owner of any, please advise and it will be corrected immediately.
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