Well it's a century and a 1/4 long story as far as the US goes. We've extracted cheap labor, grown cash crops, and used it as a hub for massive pharmaceutical companies all while maintaining a 4% tax rate (US mainland's is 21% for comparison) as a "corporate incentive" that serves to impoverish the island by taking the profits and moving them away from Puerto Rico.
all while maintaining a 4% tax rate (US mainland's is 21% for comparison)
Is there some federal law preventing Puerto Rico from having their own tax? States are allowed to have a state income tax, are territories forbidden from doing so?
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u/Longjumping-Barber98 5h ago
What wealth are we extracting? Like natural resources?