One of my last posts I wrote about why Vulture Hedge Funds are Destroying the Puerto Rico economy.
I also promised a follow up post on the Junta de Control Fiscal. It is also known as the Promesa Bill.
I want to spotlight how the PROMESA BILL would benefit Wall Street and hurt Puerto Rico's economy even more.
Thankfully, different to other issues that affect the Island, I see unity from all sides. Individuals such as Lin Manuel Miranda, John Oliver, Congressman Luis Gutierrez, and a series of other high profile individuals Oppose the bill.
Unity comes from anyone having ties and really understanding how this Promesa Bill will impact negatively our Island's Residents.
Why does Congressman Luis Gutierrez Oppose the Promesa Bill?
We can pretty much answer this in one word.
Congressman Luis Gutierrez explains in a 7 minute video why the Promesa Bill also known as the "Junta de Control Fiscal" marketed by Wall Street backed politicians as "PROMESA".
No Difference of this Junta and the Junta of Pinochet in Chile. ~Congressman Luis Gutierrez
Puerto Ricans Have a Right to Dignity and Respect
There are many misconceptions of what Puerto Ricans are to the U.S.
- Are Puerto Ricans citizens?
- Do they serve in the US Armed Forces?
- Do they Pay Taxes?
Yes to all of the above. I myself am a U.S. Veteran who was born a Citizen and decided to serve the Country that owns mine.
Our Island pays FICA taxes and does not receive the same benefits as those stateside. We pay the same rates and receive less privileges.
But having given you a quick snapshot one of the few things we do for the U.S., we believe that Respect and Dignity is something we have earned for giving more than we receive since 1898.
Why is the PROMESA Bill Unsuitable for Debate?
Most U.S. Politicians with no ties to Puerto Rico and tight relationships with Wall Street already made-up their minds on who they will favor.
It is clear they want to favor their wealthy friends and forget there are over 3 million citizens on the Tiny Island Colony.
All 10 Amendments were unsuitable for Debate
Congressman Luis V. Gutierrez submitted 10 amendments and none were approved.
Much worst, they all seemed unsuitable for debate.
Watch the Video
For a clear explanation of what is going on I recommend you watch the video.
Please feel free to share any feedback in the comments area.