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Puerto Rico: On the Edge of Some Very Risky Business

The Puerto Rican budget depends to a high degree on the Sales and Use Tax (IVU for its Spanish acronym)  and the Commonwealth income tax and corporation tax. To pay off hundreds of billions of dollars in bonds, Puerto Rico decided to pay off the bonds with the IVU. Current bond debt and unfunded pensions amount to about $125 billion. There is no guaranteed revenue stream to rebuild infrastructure after earthquakes and hurricanes. The Commonwealth government has made its books look good by reducing aid to municipalities. Municipalities have no own-source funding. The cost of basic needs for the populace, such as energy, export facilities, and the Jones Act, makes life on an impoverished island very expensive indeed.

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After Covid and local recessions…Unearthing the Big Apple’s revenue under its feet

Last January, CPTR piped up with its observations on the surprise bid of Andrew Yang for the mayoralty. Borrowing from his own 2016 presidential campaign, he proposed a basic income (BI) plan for those New Yorkers left behind by pandemics, economic collapse, and no housing. At the time, a question arose: where’s the money? In […]

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Rents Fall, Supply Decreases: The Secret Life of how the Big Dogs Roll

  Not everyone will agree, but I’ll say it:: synthesizing the market and planned economics to produce economic strength is the quickest path to economic and political empowerment for all people, especially traditionally marginalized cohorts such as women and immigrants.  When liberalism made “peace” with markets, prosperity and liberation ensued. But, “left and right” has […]