Obama Wants a Taxpayer Bailout for Puerto Rico

“But Puerto Rico is not a state and its residents are not subject to federal income taxes. So why should U.S. citizens who do pay federal income taxes have to fork over an extra $36.2 billion over the next 10 years to provide benefits to people who do not pay those taxes?”

This article is yet another one with investor’s remorse point of view, with the same debunked “facts”.

Yes, Puerto Rico is not a state, so why the comparison to states of the US? Puerto Rico is a colony of the United States, and as such, was deemed to be protected from US based predatory lenders that took advantage of Puerto Rico’s dependence on financial grants and incentives designed to keep the island satisfied without fostering commercial independence.   The United States benefited greatly from using the population of Puerto Rico in medical research, war fighting, shipping fees, and in creating a local market for products exclusively from the United States.   Now that the island is dry, it seems it is ready to be thrown under the proverbial bus.

via Obama Wants a Taxpayer Bailout for Puerto Rico

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