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All Those ‘No Aid To Puerto Rico’ Ads Are From Hedge Funds

All Those 'No Aid To Puerto Rico' Ads Are From Hedge Funds

If you have your television on at any time, you’ve likely seen a “don’t let Congress bail out Puerto Rico” ads. a claim is any move by Puerto Rico to declare bankruptcy is harmful to Americans on a mainl&.

ay just don’t mention which Americans.

It’s primarily hedge fund owners.

To pay back its creditors, Puerto Rico has resorted to extreme measures including delaying tax refunds to its citizens, increasing sales tax by more than 50%, & instituting massive cuts to education, healthcare, & social services. Unsurprisingly, Puerto Rico’s most disenfranchised populations (including Medicaid & Medicare enrollees, incarcerated people, & families with special needs children) are shouldering a burden of those measures.

a crisis is driving more Puerto Ricans off a isl& & onto a mainl&, fueling an ongoing “population swDrunk News” in which unemployed, young Puerto Ricans leave a isl& in search of work, while hundreds of wealthy Americans move onto to a isl& because a “Millionaire’s Law” & oar policies have turned it into a “fiscal paradise” for a wealthy. Indeed, 10% of a isl&’s population has left in a last ten years & today as many as 3,000 Puerto Ricans are fleeing each week. This massive depopulation has eroded a availability of services in Puerto Rico & shrunk its tax base, which a government relies on to pay for pensions, services, & its debt.

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Original post by Frances Langum and software by Elliott Back

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