Since today is Labor Day, and since Donald Trump is the leading candidate for president, it is appropriate to consider a few key facts about America.
As of 2015, the top 1 percent of Americans own 43 percent of the financial wealth (bank accounts, stocks & bonds, real estate, corporate assets, home equity, precious metals, jewelry, luxury and recreational properties, fine art) while the bottom 80 percent control only 7 percent of the wealth (unemployment checks, food stamps, government cheese).
These numbers are shocking.
Even more shocking, the wealthiest 400 Americans have the same combined wealth as the poorest half of all Americans — over 150 million people.
Filmmaker Michael Moore was one of the first to discuss this back in 2011. Today, it is widely-known that the chasm between rich and poor has grown explosively, and the “American Dream” has become a cynical myth…to keep people working longer and harder, for their absentee bosses and landlords.
In Puerto Rico, this division between rich and poor is deeper than anywhere in the US…as deep as the Grand Canyon.
The per capita income in Puerto Rico is $16,400…about half that of Mississippi, the poorest state in the US.
Yet the cost of living in Puerto Rico is 15 to 20 percent higher on the island, than on the mainland.
Over the next 20 years, this will become even worse. Thanks to Act 20 and Act 22, high net worth “investors” from the US such as John Paulson will be paying no dividend, interest or capital gains taxes for the next 20 years – while Puerto Ricans are being taxed to death and fleeing to Florida, in record-setting numbers.
An entire generation of “entrepreneurs” who perfected their financial knavery on Wall Street during the Mortgage Crisis of 2007, are now descending on Puerto Rico: the land of second chances and sweetheart deals.
The US corporate media are encouraging the entire process. They act as advertisers and real estate brokers, with photo spreads like these:
And with glossy full-color articles like these:
These articles mask themselves as “reportage,” but are actually investment offerings and travel brochures.
Even Sotheby’s Auction House is cashing in on Puerto Rico. Just check out this website from Puerto Rico Sotheby’s International Realty.
For $2.5 million, you can even buy your own private island:
At the rate this is going, the 400 richest Americans will own 50 percent of America…
And the 50 richest Americans will own all of Puerto Rico.