EXTREME CORPORATE AND INDIVIDUAL IRS TAX EVASION HAVE DESTROYED PUERTO RICO's ECONOMY

President Obama, Speaker Paul Ryan, Senator Orrin Hatch, US Treasury (of all people), US Members of the House of Representatives, US Senators, Wall Street, Financial experts including serious Financial publications, etc.. etc .... etc. have all offered different causes and solutions to solve Puerto Rico's Economic Crisis. 

All the money spent in lobbying, all the meetings, media tours, etc.... to supposedly find a solution to Puerto Rico's economic crisis!

YET....  IT IS SO SIMPLE. 

YOU KNOW WHY THIS HAPPENS? 
1. RAMPANT GOVERNMENT CORRUPTION.

2. ONLY THE WORKING CLASSES PAY TAXES IN PUERTO RICO AND THE PEOPLE CANNOT AFFORD LIVING IN PUERTO RICO ANYMORE!! 
3. PUERTO RICO IS LABELED BY THE IRS AS A FOREIGN COUNTRY TO SERVE AS AN OFFSHORE TAX EVASION PARADISE FOR US CORPORATIONS AND RICH INDIVIDUALS, SO THEY DON'T HAVE  TO PAY FEDERAL OR STATE TAXES!! 
This hurts Puerto Rico and the other 50 states.

At this moment, representatives of the CFC's, of the rich elite class in PR, and other interested parties, have their well connected lobbyists armed with their lobbying paraphernalia, pushing Congress for another tax evasion gimmick for PUERTO RICO.SECTION 245 A! 

Local Puerto Rican politicians, from all parties, are also lobbying intensively for Section 245A.....after filling their campaign chests with corporate money

Not one day goes by that an article as good as the one below shows up in the media. It even mentions that the topic of the corporate offshore tax havens is now relevant in the Presidential race!

The US Citizens of Puerto Rico call out for help to our fellow citizens in the several states to stop this tax evasion abuse that has hurt Puerto Rico's economy and future. We do not benefit. Only the common folks pay taxes in Puerto Rico and higher than in any state of the Union. Please read other articles I have published in my blog here, to see all the evidence.

PLEASE WRITE TO YOUR CONGRESSMEN  - TELL THEM NOT TO APPROVE SECTION 245A  TO PUERTO RICO.

MJR

______________________________________

PEOPLE's WORLD

EPI: Corporate tax avoidance close to $700 billion

October 17, 2016

BY MARK GRUENBERG

WASHINGTON (PAI) — Taking advantage of big loopholes in the U.S. tax code, corporations have stashed so much of their profits in overseas subsidiaries—and sometimes by shifting their official headquarters abroad—that they evade almost $700 billion in U.S. taxes, the Economic Policy Institute calculates.

Furthermore, EPI says, the firms could easily invest in the U.S. and its workers with the $2.4 billion overall that they’ve stashed overseas and without having to pay increased taxes on that sum, the report says. Its data were based on federal and corporate figures.

But the important point of the corporate tax evasion – which is perfectly legal under the tax code right now—is that the rest of us have to pick up the tab, substituting our tax payments for theirs for such things as schools, fire fighters, infrastructure and even the military, EPI says.

MORE:  Corporate tax avoidance close to $700 billion