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I wouldn’t call it a scam, but this has been controversial in PR since before it was inacted. I’m actually surprised this is still active. When Puerto Ricans want something to leave or disappear in PR, normally they get it. Look at Vieques and the military base that was there.
I wouldn’t call it a scam, but this has been controversial in PR since before it was inacted. I’m actually surprised this is still active. When Puerto Ricans want something to leave or disappear in PR, normally they get it. Look at Vieques and the military base that was there.
Daily Kos isn't exactly unbiased so they would. It started with an attempt to import capital. Perhaps the real controversy is how little the island has done to lower the tax rate on domestic businesses. this originally aimed to get around how unattractive the island is to investment but required businesses to have employees, eventually that was jettisoned.
The author of the article has zero knowledge on history or taxes. Puerto Rico didn't decide not to tax capital gains to spur economic development Puerto Rico has always paid $0 in Federal Taxes.
The downside of having to move to Puerto Rico for taxes, is having to live in Puerto Rico.
The author of the article has zero knowledge on history or taxes. Puerto Rico didn't decide not to tax capital gains to spur economic development Puerto Rico has always paid $0 in Federal Taxes.
The downside of having to move to Puerto Rico for taxes, is having to live in Puerto Rico.
Puerto Rico isn’t a bad place to live (unless you’re moving to some ghetto or bad neighborhood or caserio.) Maybe for non-Spanish speakers once you go out of San Juan Metro Area, Spanish is king and it could make things a little more difficult. But even outside that area there are many Puerto Ricans that understand and speak an OK English and within the San Juan MA Spanish is also king, but English is much more readily available if the need comes up. In general though, Puerto Ricans like to speak their language even if they know English, Spanish. There are some Puerto Ricans that speak more English than Spanish, but the word some can’t be ignored. You will also notice many Puerto Ricans instead of saying “X costs 3 dollars or dolares” they say “X costs 3 pesos” despite it’s in US dollars. The Puerto Rican Peso is the money Puerto Rico had before the USA made the dollar the only legal tender there.
The quality of some of the services aren’t 100% to the level of efficiency as in the USA mainland, but it isn’t those services are bad per se, just not always as a typical American is used to them in the mainland. Those same services as they are, are better than in many developing countries. Everything depends on the perpective it’s seen from.
PR has better tropical weather than 99% of the USA, IMO. The days are also bright, the sun always feels warm; no need for coats, gloves, etc.
At least I wouldn’t say Puerto Rico is a bad place to live. It’s also not a bad place to vacation. I can think of a few countries where even if you have your economic needs covered, living is still hard. Puerto Rico isn’t one of those places.
Last edited by AntonioR; 04-16-2024 at 11:47 AM..
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Puerto Rico has always paid $0 in Federal Taxes.