Six on Puerto Rico: Storm-ravaged Puerto Rico lies vulnerable to economic disaster

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Sep 24, 2017, 9:16:30 PM9/24/17
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Why would anyone in Puerto Rico want a hurricane? Because someone will get rich.
"Puerto Rico already had a higher rate of income inequality than any U.S. state, and it has only been made worse by tax incentives used to lure investors at the expense of a depleted public sector. Puerto Rico’s Act No. 22 allows wealthy investors to evade federal and local income tax by spending a minimum of 183 nights a year on the island. These types of initiatives promote the arrival of wealthy retirees and part-time Caribbean residents, who are able to erect multimillion-dollar mansions complete with hurricane-proof bunkers, while many of those born and raised in these societies must rely on public infrastructure that has been deeply eroded to service foreign debt and provide tax breaks."




Storm-ravaged Puerto Rico lies vulnerable to economic disaster






Juan González on How Puerto Rico's Economic "Death Spiral" is Tied to Legacy of Colonialism




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