We are a tax haven for wealthy foreigners with a low corporate tax rate and huge commerce subsidies. So why increase income taxes on working class residents? Related: El peso de la deuda puertorriqueña no debe recaer sobre los pobres | Luis Gallardo In the wake of Governor Alejandro García’s June declaration that the Puerto Rican government’s $72bn public debt is unpayable – putting an cessation to the traditional practice of financing the government’s massive annual deficits and rampant spending through loans – citizen and labor groups believe taken to the streets concerned that the burden of paying off the debt will plunge disproportionately on the island’s poor, working and middle class residents.
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Source: theguardian.com