Reader comment on: Reagan on Puerto Rican Statehood
Submitted by Tom Elliott (Spain), Oct 2, 2017 17:33
Puerto Rico currently enjoys the best possible situation -- the benefits of statehood (defense/commerce/travel) without the drawbacks (federal taxation/regs). They've also instituted a number of measures to improve the business climate -- lowering the corporate rate to 4 percent and completely eliminating capital gains/carried interest/dividends taxes. Statehood would destroy that competitive advantage -- all for the "benefit" of having a few reps in Washington that would invariably make zero difference on any matters pertaining to Puerto Rico.
Puerto Rico also has a major debt problem. If they became a state, their per capita debt liability would increase approx. 400 percent overnight.
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