After three weeks the island is still a mess
https://www.usatoday.com/story/news/world/2017/10/09/puerto-rico-aid-hurricane-maria/741739001/
Before the storm, Puerto Rico was facing a down spiraling economy thanks in part to US company corporate tax break law that basically had them exempt from US taxes as long as they did business in Puerto Rico.
https://www.cnbc.com/2017/09/26/heres-how-an-obscure-tax-change-sank-puerto-ricos-economy.html
The tax break was repealed during the Clinton administration and saw a rapid decline in the economy for the next two decades. Lack of jobs, contributed to also lack of people to fill jobs there and grow an local economy since it created a mass exodus of native Puerto Ricans to the US. However the Jobs that were available in Puerto Rico before the hurricanes payed a pittance of a wage compared to the US.
The goverment cant pay its workers, The workers dont have any money, power, water, food. Hospitals are struggling to help victims with meager supplies.
Meanwhile Goverment officials are still begging for immediate help in Puerto Rico
https://twitter.com/ricardorossello...k-of-massive-liquidity-crisis/article/2636902
http://www.washingtonexaminer.com/p...k-of-massive-liquidity-crisis/article/2636902
So what is the fate for Puerto Rico as it's devastated by by natural and economic disasters?
Trump demands appreciation while he belittles and insults the people of Puerto Rico, and the media focuses on him and his football feud. Meanwhile Puerto Rico and it's inhabitants are facing a crisis of both struggling to stay alive and the future of their livelihoods.
https://www.usatoday.com/story/news/world/2017/10/09/puerto-rico-aid-hurricane-maria/741739001/
Nearly three weeks after Hurricane Maria devastated this U.S. territory in the Caribbean, individuals and charities on the U.S. mainland trying to send supplies to the island are facing a series of bottlenecks that are keeping help from reaching those most in need.
The barriers range from a lack of communication to blocked roads to a shortage of vehicles and drivers to make deliveries.
As a result, one Port of San Juan terminal is storing 3,400 containers more than double the usual number, said Jose Pache Ayala, vice president and general manager for Puerto Rico at Crowley Maritime Corp.
Because of tangled power lines across roads, washed out bridges and highways and knocked out cellphone towers and radio antennas across the island, materials are leaving the Crowley terminal gate at 70% the normal rate before the storm, Ayala said.
Before the storm, Puerto Rico was facing a down spiraling economy thanks in part to US company corporate tax break law that basically had them exempt from US taxes as long as they did business in Puerto Rico.
https://www.cnbc.com/2017/09/26/heres-how-an-obscure-tax-change-sank-puerto-ricos-economy.html
More than half a century ago, U.S. lawmakers sought to help Puerto Rico emerge from a colonial past, transforming its largely agrarian economy into a manufacturing powerhouse. The effort, known as Operation Bootstrap, began with a series of tax breaks designed to attract manufacturers who would provide steady factory jobs.
For a time the plan seemed to work, as standards of living in Puerto Rico rose. Between 1950 and 1980, per capita gross national product grew nearly tenfold in Puerto Rico, and disposable income and educational attainment rose sharply, according to the Center for a New Economy, a think tank based in San Juan, Puerto Rico.
One of those tax breaks, enacted in 1976, allowed U.S. manufacturing companies to avoid corporate income taxes on profits made in U.S. territories, including Puerto Rico. Manufacturers, led by the pharmaceutical industry, flocked to the island.
The tax break was repealed during the Clinton administration and saw a rapid decline in the economy for the next two decades. Lack of jobs, contributed to also lack of people to fill jobs there and grow an local economy since it created a mass exodus of native Puerto Ricans to the US. However the Jobs that were available in Puerto Rico before the hurricanes payed a pittance of a wage compared to the US.
The goverment cant pay its workers, The workers dont have any money, power, water, food. Hospitals are struggling to help victims with meager supplies.
Meanwhile Goverment officials are still begging for immediate help in Puerto Rico
https://twitter.com/ricardorossello...k-of-massive-liquidity-crisis/article/2636902
"Financial damages of this magnitude will subject Puerto Rico's central government, its instrumentalities, and municipal governments to unsustainable cash shortfalls," Rossello wrote. "As a result, in addition to the immediate humanitarian crisis, Puerto Rico is on the brink of a massive liquidity crisis that will intensify in the immediate future."
Rossello also pointed to a potential exodus of the island's inhabitants should aid not be available in a timely manner -- something he has also emphasized in conversations with lawmakers.
http://www.washingtonexaminer.com/p...k-of-massive-liquidity-crisis/article/2636902
So what is the fate for Puerto Rico as it's devastated by by natural and economic disasters?
Trump demands appreciation while he belittles and insults the people of Puerto Rico, and the media focuses on him and his football feud. Meanwhile Puerto Rico and it's inhabitants are facing a crisis of both struggling to stay alive and the future of their livelihoods.