Puerto Rico Economic

Puerto Rico is a beautiful place. The sun is always shining and the temperature does not go below eighty degrees Fahrenheit. If you run out of something like sugar or salt, you can always knock on your neighbor’s door and they will be happy to help you

Purpose: To encourage the US and Puerto Rican government to for more interest for Puerto Rico statehood.

Our current American Flag is composed of a blue upper left corner filled with 50 white stars and 13 alternating red and white stripes, and is missing one thing. A 51st star. That star representing the current unincorporated territory known as, Puerto Rico. Puerto Rico is a spanish speaking, caribbean island that is currently a territory of the United States. And is actually a lot closer to statehood than you would assume. Baring statehood granted, both sides would see huge benefits. Puerto Rican citizens are required to do many of the same things United States citizens are required to do, and are actually for the idea of statehood.

Puerto Rico might be better off staying a commonwealth because Puerto Rico doesn’t have to pay income taxes to the U.S.A.

There are seven states who do not have an income tax which are Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming. Like always a state cannot survive with no money this is where Texas inputs the sales tax. “The Texas state sales tax rate is currently 6.25%. Depending on local municipalities, the total tax rate can be as high as 8.25%” (Avalara Tax Rates, 2016). From this Texas gets money to improve everything related to Texas. There is no chance Texas will change the no income tax because so far it has work for them. Texas has a stable economy and it is a job maker. Plus it would be really complicated to change because there is a hierarchy in Texas. If Texas moves to a state with income tax that would mean rich are giving power to the poor. This is something the rich do not want to happen. This has been since the foundation of Texas at it would not make sense to change it from one day to another. The poor have no voice to change something because, they have no money or power to

The issue of taxes and different tax systems is arguably one of the most important issues to many Americans. Having an effective Tax Code is definitely important in maintaining a healthy economy; however, there are different perspectives when it comes to the rates and percentages that citizens pay.

The most beneficial of these tax policies is the capital gains preferential tax rate. When comparing the ordinary income marginal tax rates to the capital gains tax rate, the highest ordinary income tax bracket has a 39.6% rate, while the long-term capital gains tax rate only goes up to 20%. Even with the attachment of the social security surtax imposed by the Affordable Care Act of 3.8%, the highest long-term capital gain rate will be 23.8%, which remains lower than the ordinary income tax rate. Even with the long-term capital gains tax rate applies to investment dividends and capital gains, which are activities mainly practiced by those with the monetary means to do so. A large percentage of the very wealthy generate income from investments rather than wages, and thus their income is taxed at a lower rate. The top 1% holds approximately 50% of American investment in stock and mutual funds, and the bottom 90% holds approximately 9% of the national wealth in stocks and mutual funds. “…the nonpartisan Congressional Budget Office, or CBO, estimates that the

Historically, the flat-rate tax system has been popular throughout many Eastern European countries, and has recently become a topic of discussion in the United States.

Tax revenue accounts for about 75% of the federal budget. During the 2010 fiscal year, the United States government collected about $2.16 trillion dollars in tax revenue. About 42% of these taxes are from individual income taxes; another 40% from Social Security taxes and the rest are split between excise, estate, and corporate taxes (cbo.gov). The United States uses what is called the progressive tax system. Which means the more you make, the more taxes you pay. Tax revenue has become a very hot topic in the past few months, mostly due to the fact of a recent group of people who call themselves “Occupy Wall Street”.

Puerto Rico is an unincorporated territory of the United States located in the northeastern Caribbean. According to numbeo.com : “ Consumer Prices Including Rent in New York are 101.99% higher than in San Juan’’ . The Employees of the New York City society generate a higher salary due to the cost of living in the city . In Puerto Rico Employees generate a lower salary but it adjust

Two years ago, I went to Puerto Rico and I absolutely loved it! Puerto Rico is a Caribbean island and a U.S territory. It is east from the Dominical republic. The capital is called San Juan with 77 other cities! Puerto Rico has about 3.548 million people living there. Since Puerto Rico is an island the weather there is one of the most unvarying climates in the world. All year around, the temperature is usually from 75 to 83 degrees Fahrenheit. In fact, the island is the hottest and wettest around August, averaging about 81 degrees Fahrenheit. Puerto Rico offers many cultural entertainment, historical locations and tourist attractions.

Although the other option is to be a free-associated state which also means to be in a commonwealth. Where the Puerto Rican citizens can choose their own governor and after that there is not anything else that Puerto Rico can do.

Taxes in this country help pay for many government and state programs. Right now we have seven tax bracket tax plan for income tax. The plan is based on how much you make, the more you make the higher the present. Paul’s plan calls for a fourteen point five present flat tax no matter how much income you make. The plan also includes a $15000 deduction and a $5000 per a person personal exemption. Retirements accounts would stay the same and still keep mortgage and charitable deductions along with child tax deductions. For business, it would be a fourteen point nine percent business transfer tax that would be levied on factors of production and capital income. The TGM (Taxes and Growth Model) estimates an increased GDP of twelve point nine percent in ten years or about one

The debt crisis in Puerto Rico has consistently grown over the years, and has become a major talking point this year as Puerto Rico faces the possibility of defaulting on its loans. The condition of the economy and the growing debt has initiated talks of a bailout from the United States congress. There are several issues on dealing with Puerto Rico including its tax exemption, growing unemployment rate, and an exodus from the island to the main land. While many will argue that Puerto Rico’s issues should be solved within the island government, I believe that the United States should offer bankruptcy to alleviate Puerto Rico of its burden.

Puerto Rico is a small island in The Caribbean that has a population of around 4 million people. With a mountainous rainforest as well as deserts and many rivers, Puerto Rico is a very diverse island in terms of geography. It is surrounded by the Caribbean Sea and the Atlantic Ocean. It is an island of the Great Antilles along with the Dominican Republic , Haiti, Cuba and Jamaica. Over the years Puerto Rico is becoming more and more vulnerable to climate change. Problems such as erosion, flooding and sea level rises, and ocean acidification are affecting many aspects of the island. The coast of Puerto Rico is very key to the economy and that is where most of the island’s infrastructure is located(1). To help reduce risks in Puerto Rico it