Discussion for article #237974
So just claim to be a republican ruled state and you’ll be fine Guv!
Will this be the same Math Brownback uses for Kansas next year?
1 Like
Does one presume the officials have Swiss bank accounts as have the Greek government ?
1 Like
“Garcia has taken several measures to help generate more government revenue, including signing legislation raising the sales tax to 11.5 percent and creating a 4 percent tax on professional services. The sales tax increase goes into effect Wednesday and the new services tax on Oct. 1, to be followed by a transition to a value-added tax by April 1.”
Anything but raising the income or business tax, I see.
2 Likes
“There is no other option. I would love to have an easier option. This is not politics, this is math,” Garcia is quoted as saying in the Times.
Maybe Puerto Rico should have used math before venturing into socialistic politics.
How did Puerto Rico get in trouble? Whose snake oil did they buy? Is this another Conservative Republican fiasco? This article leaves a lot to be desired, concentrating on the symptoms and ignoring the cause.
The US tax code allowed pharmaceutical companies to pay no taxes on products manufactured in PR, so all of big pharma built plants there. A large proportion of the drugs sold in the US were made there. Those tax breaks were taken away in 2006 and the plants left, because electricity and raw materials costs are higher on the island than on the mainland. Since then, PR has been in a depression.
Doesn’t Puerto Rico mean, “Rich Port”?