And the beating goes on: Wall Street facks Puerto Rico

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Capn Jimbo
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And the beating goes on: Wall Street facks Puerto Rico

Post by Capn Jimbo »

The poor defenseless Caribbean...


...whose victimization by the usual suspects - the Chicago School of Economics, the World Bank, et al - continue to buy off key local politicians to install their usual goose stripping tactics.

Puerto Rico is in big trouble, bigger than most. Unemployement is a reported 15%, but with actual estimates of around 50%. Of course crime is increased, suffering is increased and desperation abounds - another perfect opportunity for Disaster Capitalism whose goal, as always is twofold. First, to reduce taxes on the super rich; second, to shift the burden to the middle class and poor and last and most important, to make things even worse thus allowing them to swoop in, buy up and privatize public services and properties.

Well on their way to owning the Earth, fackers all.

Their current gimmick: to install a VAT (Value Added Tax), on the completely false premise that this will lower income taxes for all (the big sales point). The big winners as always are the mega's, who already pay little income tax, but now will pay almost none. But how 'bout the VAT?

This means that almost all the taxes will be levied when you buy something: a jug of milk, a loaf of brea, a tank of gasoline. It's really a sales tax and guess who pays it? Yup, the poor and middle class for whom purchases make up and take up most of their meager incomes. And what happens then? Will they spend more? How can they, when things now cost more due to the VAT? What really and predictably happens?

The poor and middle class are forced to buy less of the now more expensive goods. It simply can't be any other way. The result: less sales, less production, fewer jobs, more unemployment, all while the super rich benefit and wait for things to get worse...

And lick their chops at the upcoming buying opportunities they anticipate and indeed are causing. A perfect example? St. Lucia, who was lobbied into their own VAT and with absolutely disastrous results - all planned, all predictable, all without a shred of remorse by those who sold/forced this VAT money-stripping scheme upon them.

Read all about it:
http://www.caribbeannewsnow.com/headlin ... adlines%29
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