The Real Reason America Keeps Puerto Rico Poor

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*We had a small glitch and had to re-upload this video - sorry for spamming your feeds*

Chapters

Why Is Puerto Rico So Much Poorer - 00:00-05:20
America's Secret Colony - 05:20 - 09:20
Operation Bootstrap - 09:20 - 13:20
Just how bad is it? - 13:20 - 19:07

[zakm]

I live in Puerto Rico - I moved here from San Diego.. and TRUST me when i tell you.. groceries here are MORE expensive than America's Finest City.... Fact!

[bostonrican]

USA: yea let’s give them citizenship and we still treat them like second class citizens 😡

[thannushkaperez]

I highly recommend the book “War against all Puerto Ricans” by Nelson A . Denis to anyone who wants to know more about our history and how we ended up here.

[marinacabrera]

Our own politicians said "I see a glorious future, a Puerto Rico without Puertoricans".
Hawaii 2.0

[rami]

If any other country did this, you know the US would non-stop criticize them.

[thcottquistafoi]

1. Puerto Rico was the name of the port city in San Juan originally. The island was known as San Juan Bautista until the late 1800s.
2. The Spanish American war, although did involve the transfer of Puerto Rico was mainly fought so the US could gain control over Cuba. Here on the island we welcomed the US army as we assumed that, like Cuba, they would fight for out independence in exchange for our cooperation.
3. Only about 1/3 of the island speaks English proficiently in modern times with that number significantly higher among the youth.
4. Gentrification by Americans is also a huge issue

[soilomasbello]

Although I admit that US has responsibility for the situation of Puerto Rico, the local government have the biggest responsibility for our actual condition. We don't pay federal taxes but the amount of local taxes we pay is insane as an example 11.5% sales tax while the services becomes worse day after day and the solution the government came over with is always a new tax.

[CamillaKara-vuhu]

Fantastic video! I have incurred so much losses trading on my own....I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong??

[AurelioVenegas]

Government mismanagement in the island has been perpetrated by the same seats in Congress across generations in order to maintain this same stranglehold that is mentioned in the video. It is a vicious cycle that must be stopped.

[RebeccaHaden]

You're confusing the Jones-Shafroth Act of 1917 with the Jones Act cabotage law. They are not the same thing.

[donaldoyler]

I like living in Puerto Rico. My kids get to experience their Puerto Rican heritage on their mother's side. There are good and bad no matter where you go. We use as many of the local mom and Pop shops to keep our money here unlike using Walmart or other big companies that only a small amount of the money spend stays here.

[lazywallstreetnews]

I’m born and raised in PR. To me it’s political because there would be 2 senators and more congressman than about half the states. They’re not going to give non-European people that much power without putting up a serious, very hypocritical, lie. Also, a lot of us don’t want to be a state. There are a good amount of people that want independence or to stay as it currently is. Also, it’s currently a tax haven for rich Americans and that status would be dropped upon becoming a state. So there you go, from a local.

[bernardwanjohi]

Looks like a deliberate attempt to stall the place then gentrify it.

[wolfdna]

These are half truths. Do a full hour video and tell the truth.

[CptFugu]

I used to work for a pharmaceutical company in PR. They paid us about half of what they paid a BSc graduate in the US... and I had a Master's Degree at the time. There were few job alternatives back then (about none right now) so it was pretty much a one sided deal.

They got away with it by declaring Puerto Rico as part of their "international division".

And those were the "Good Old Times"

[linuxsisschannel]

I find it funny how many Americans keep saying if Hawaii or Puerto Rico were not Americans, they couldn't manage the country.

[silverfox]

Also the government of Puerto Rico keeps its population poor by not promoting the development of infrastructure that will boost the economy. The local bureaucracy for establishing a business is ridicilous. The local mayors and politicians force business owners to pay illegal cash fees in addition to business licenses and taxes. Puerto Rico offers zero oportunities to its own young university graduates as it has no gratifying paying employment for them.

[lennxwitt]

Although Puerto Rico has a substantial debt of approximately $37 billion, no country in the past decade has surpassed the United States' record for the highest external debt, which currently stands at around $34 trillion. The key difference lies in the POWER and economic autonomy. The USA, being an independent country, can print its own currency whenever needed and maintain an artificial economy, even if it leads to inflation. It has control over its imports and exports. In contrast, Puerto Rico cannot event vote for the president, and everything that arrives on the island must first pass through the mainland, increasing the cost of all products. Also, can't control wich who do business without the bless of Uncle Sam. Puerto Rico cannot print its own currency like Uncle Sam, and to add to this, there is also poor government administration, a problem shared with the USA, but the latter has far more resources to manage it.

[KCDWolf]

Im half Puertorican half Argentinian and let me tell you as someone how has lived in PR and South America, the average life standard in Puerto Rico is the best in Latin America. The island has poverty? Yes just like every country but you're making it sound like PR is Haiti....

[EGQ-oxgn]

I'm mexican a place where there is only poor, Rich and super rich. So when I moved to Puerto Rico 10 years ago I was mesmerised by the high quality standard of living of the middle class . something that my dear mexico and South america can only dream. with that said I think this video is not fair for the island. you are talking about Puerto Rico not about cuba or Bolivia.