Hi all. A few things I didn’t mention in the story: I reached out to The 20/22 Act Society as well as PRelocate (both groups represent and work with tax incentive beneficiaries) multiple times requesting an interview and didn’t hear back. Also, Act 20 & 22 now exist under Act 60. And Puerto Ricans can benefit from Act 20 if they set up a business that exports services.
The same things should be afforded to Puerto Rican entrepreneurs regardless. Is very unlikely to start a business that starts exporting anything out of the island right of the bat. But a start up business can grow to the point it exists or even franchises outside.
Non-Puerto Ricans can only benefit under Act 20 and the Act 20 section of Act 60 if they set up a business that exports services as well. It’s not like Joe Schmoe can come to PR and set up a restaurant and pay 4% tax versus the neighboring restaurant run by Juan Boricua paying 30%. The whole idea is to pull a Singapore and attract exporters to increase PR’s balance of trade and promote economic development. Someone buying a multimillion dollar house and actually living in it ends up paying many multiples of tax to the PR government than the average Boricua. There is a net loser, and its the colonial master the US Federal Government... You also failed to mention the “Californian who bought the most expensive home on the island which is in Dorado and is a $30 MM home” is actually a Boricua born-and raised billionaire (the first) returning to the island, in part because of the Act, to promote Boricua entrepreneurship and business, Orlando Bravo: www.bravofamilyfoundation.org. Are billionaire Boricuas expected to live in lesser accomodations than other billionaires? A lot of very convenient things left out of the video. If you want to get details speak to Annie Mustafa at the PR Science and Technology trust. The Act 20/22 Society and Relocate do not trust reporters after being subject to multiple hit pieces. I don’t think they really talk to anyone except maybe El Vocero.
@@genierico Interesting tidbit. Still there is too many regulations, permits and licences that choke local entrepreneurs to death. The heavy toll of permits and licenses should be lifted of all entrepreneurs that's the way of promoting business on the island.
@@RoyCyberPunk They are. Anyone who lives in Puerto Rico can start an Act 20 company, export services, and pay 4% corporate tax and get tax free dividends. Also, any Puerto Rican who works for an act 20 company can receive tax free dividends. Also, some of the biggest beneficiaries of tax incentives are Puerto Rican born doctors. Since moving to PR i started two business and employ over 30 people. Even though my tax rate is low, I have paid a lot of taxes here. Had I not moved here I would have paid zero taxes to Puerto Rico, and not employed anyone here. Those employees also pay taxes that would not have been paid had i not created those jobs. Local lawyers, accountants, realtors, contractors, landscapers, gardeners, personal trainers, hair stylists, waiters, event planners, retailers, etc have all benefitted from having my family as customers, as have local charities we have supported.
Sorry to ask but I wanted to know if u know a Ruben Rosado better known as (Papo) he's my dad I haven't seen him in years he from MOCA I live in Rio Grande
Puerto Rico 🇵🇷 will be another Mississippi, if it becomes a state. Worst than now, very poor. Think and research before voting for statehood. Not a good idea.
You are the reason I started to really pay attention to the issues in PR. I lived in Hawaii, and the same thing will happen to PR. People always say that "this is so cheap compared to where I came from". They should wonder why itis so expensive to live in those places before coming to take over our island. Please keep up the great work.
I’m a Puerto Rican business owner who has benefitted from the economic influx. The problems in Puerto Rico were not caused by these wealthy residents but by years of corrupt and negligent government. These people have hired many business owners who were suffering for years of a depressed local economy. Restaurants, car dealers, private schools, event planning hotels etc... the list goes on and on of businesses who have flourished die to this influx. Don’t knock it if you are not one that has survived because of these new residents.
@@kingtech7174 considering half the island doesn’t pay any taxes!! I’m shock that ppl are complaining. 4% tax on millions collected is a lot more than locals pay!
People just don't get it they are angry and they want to lash out with emotional rationalization instead of logical reasoning. It's a combination of racism against a group that they envy and are covetous of even though they've done nothing to harm them, (in the private sector you get rich and successful by providing value to others) and spend large amounts of money in the area and create jobs. The problem is the government!
While there are legitimate problems with this Law and how it affects locals, the bigger more complex issue is that Puerto Ricans have an inferiority complex created by hundreds of years of Colonialism. We have “lower-casted” ourselves, believing we’re incapable of succeeding, naturally poor, and blame our problems on others instead of using our inner brilliance, resilience, and resourcefulness to create a new economic/ political situation that doesn’t always look to a corrupt local government to solve all of our problems. The problem is the victim narrative is low hanging fruit- especially when it comes to social media. What s harder is taking a long look in the mirror.
@clot shots interesting 🤔. The people they vote in to represent them haven't done much cuz money talks louder then the voice of the people. (In my opinion)
This is exactly what happened in California. I was born and raised in LA and it became Impossible to live there. I moved out of CA in 2012 as taxes and home prices skyrocketed. True Californians are forced to move away as new rich people move to the state!
Yes, the Californisns were being screwed on their state so they moved and invested in PR to screw another people. They didn't appreciate how CA was milking them, so they go do the same to others in PR. Shameful and hypocritical.
@@Emy53 the problem is those same Californias vote for the same democratic party that keeps fucking them in the ass and then when they leave they bring in the same disastrous tax polices with them.
Yes. It is exactly what happened there. I'm from the Bay Area and have seen it first hand in San Francisco, Oakland, and now many other parts of the state.
I’m not pissed. Speak for yourself. Many local businesses have flourished because of this influx of money. No juegues con el arroz y habichuelas nuestros!
As a Texan, I know the feeling. Homelessness has increased in the cities from housing prices going up. And the people moving here do not respect traditions. They try to change it to the same place they left. And if there’s a historical sight or building they wanna tear it down to make a Starbucks or In-n-out. I hope they don’t California your Puerto Rico.
Yeah this is talking about a few 1000s of people total that applied for acr 60 not tens and tens and hundreds of thousands from California and Central and south America
@@alexchavez3244 lolol mass illegal immigration would prove other wise... yes legal latin immigrants know the dangers of collectivism. Thats why the left is pushing for open boarders.
@@stevemasterson7776 it’s all about money and the California people know if they can move to Texas they can hustle Hispanics to work for chump change it’s capitalism man that’s why you see many Hispanics work but they don’t use they’re money to build a business to now work like the Jews who get all they’re money together and buy businesses.
Don't worry. Most of those people in California are from the East Coast who brought their leftist ideals to CA and ruined it. You're not getting CA in Texas as much as you think. You're getting New England.
I’m mexican and I used to live in guaynabo, I left after maria because I was still in high school but i can’t wait to go back after I graduate from college, life is just so much more slow paced and relaxed on the island and I truly miss it.
I’m Mexican and lived in PR too it’s paradise compared to the crappy as town I lived in Mexico I took my girlfriend there once she never complained about PR anymore lol
Bianca, you are intelligent, fearless, and very accurate in your reporting facts. As a Puerto Rican born and in Caguas and leaving the island at early age, I am so proud of you. May God bless and protect you from the evil ones!
In the closing segment Bianca discussed Senator Schumer's assertion that he wanted to force the PR governor to rescind Law 22. She said that this would get into the issue of Puerto Rico's "autonomy." The truth is that Puerto Rico has no autonomy except what Congress decides to give. PROMESA, Puerto Rico v Sanchez Valle, Puerto Rico v Franklin California Tax Free Trust, definitively established that Puerto Rico belongs to Congress. The junta, established by PROMESA, has power over the legislature. Puerto Rico has no autonomy, it is a colony subject to the plenary powers of Congress.
Congress using their plenary powers gave PR the "commonwealth" so that Puerto Ricans manage their own affairs like any other state. And look what Puerto Ricans have accomplished, a disastrous economy and corruption ending in bankruptcy. The federals had to intervene one more time to save Puerto Rico from itself.
Thank you for putting these stories out for everyone to see! For so long the island has been invisible to the outside world. Keep it up! We need more people to do the same
I think that the root of this particular issue is not that the island has been invisible to the outside world, but that the island has been blind to how the rest of the world operates. 8-)
It's time the world should appreciate the development of crypto currency, coz the way it makes good returns within a short period of time to, makes it so much lucrative and profitable
So true.... But where is Ricky Martin, Jlo, Fonsi, Marc Anthony and all those artists that always saying something specially about the government but not about their pockets...🤷
Don't put it on them to save Puerto Rico, we have to rebuild it ourselves. We have to fix the land from what colonizers did to it for food sovereignty. Go after the white billionaires, not the Puerto Ricans that managed to find success. Reparations.
@@pianistchicks Why always have to be about race? Reparations? Im Puerto Rican and if we want to blame someone is ourselves. The mentality of give me/reparations is not the answer. What about personal responsibility? Im not counting on any of the artists they just talk when is convenience for them. They like to talk but love their mansions and their security but not for the ordinary people. Maybe some thank Muñoz Marin and the "mantengo" for PR. The mentality of the "give me" needs to change. The day I see any artist, politician sharing their money or better yet really caring with no manipulation, that day PR would be better. The same ones complaining about everything are allowing mexicans to work "las fincas" because we are too good for that.
Dude they are RICH HUH you stupid they can't even taxes them how they want they will still stay in Puerto Rico even if they tax them high If they do tax them high they will change area and go live somewhere else in Puerto Rico you stupid or what 😂😂😂😂😂😂😂😂😂🙄 Tax them high 😂😂😂😂😂😂😂😂😂😂 they Rich Rich they god money child 🤑🤑🤑🤑🤑💰
@@godofthisshit Because it's a good option. There's other options outside of the US too. It makes sense for them to reap these low tax and benefits and stay in the country at the same time.
My family is from Dorado, PR specifically Los Puertos. Growing up I heard stories about how my abuelo used to work for Don Fonallda and the family. He used to be their mayordomo for farms like La Julia. Dorado was beautiful for EVERYONE and still is but the divide is so unfortunate. I had to leave after H. Maria destroyed my home and haven't been back since. I wish I stayed I miss my home, my people, and the land.
I lived in las quintas de dorado from 1980 till1991 then moved to los puertos till 93.came to fla.been here thinkin bout going back to buy and retire.might have seen you.god bless.
Tyrus warwick Why are u hating on us Puerto Ricans? What did we ever do to u?! Can u stop being so xenophobic?! I hate how many ppl just hate on other ppl from other countries without even knowing what’s happening in that place
Did you reach out to the Mayor of Dorado for a reaction? He’s been in office for well over 20 years and has made sure rich people in that town are protected.
@@ramonburgos6351 I know 1st hand I worked at the ritz as a driver (independently small business) made many connections. My grandparents sold one of the only houses in mameyal with beach acces for a nice profit. They had the property for 30 years, tore down the tiny house and built a new house 4 years ago. And they just sold their house in paseos de las olas that they bought 2 years ago for a 200k profit. The guy paid cash.
@@JulianoVitiello good for them! The video fails to point out that these tax exemptions were put in place by local politicians over 8 years ago. This is not Logan Paul’s fault or any of the other main landers moving there.
I can only reminis now.. It's 1996, im eight, family on the beach. Cabo Rojo. Mix music in the air, grill and dominoes in the back, swinging hammok with a burger in hand. I smell the ocean, I feel the sand. Puerto Rico I miss you.
Ever since hurricane Maria I was nervous of the gentrification becoming a reality . Now I know it was a nail in the coffin . We need to get together and buy this land outright . All our Purto Ricans in America can donate to buy as much as possible to keep it from being invaded by the colonist who we know only care about themselves . Reserve most of the land for native families and issue a fair way of economics in puerto rico . This can't go on as it has . We will turn into San Francisco but in a way worse . 30% of native people will be in prison while the rest work for the insanity of rich people law .
I live in San Francisco and I hope Puerto Ricans vote for a Government to tax these guys. These folks are not brining jobs they are just hoarding in large sums of investments to buy up everything on the cheap. Its what happen to us in San Francisco. Although lot of the rich folks are leaving, they have left a mess. City won't be the same for a while or maybe never.
My wife (originally from PR) and I are thinking of moving permanently to PR this year (we have family in Arecibo), and we both work in tech (from Brooklyn NY). I have a goal of teaching code, and hopefully, make that happen in the Arecibo community first.
You're deeply regret that decision. Trust me. I actually lived in Arecibo many years. Its a dump just like the rest of the country. Don't be swindled by your wife and the pretty beaches.
I left PR in the late 80s due to many reasons. Returned in 2012 to see if I could adjust to the conditions there and I couldn’t. It’s a shame that such a beautiful island/country is in such disarray and waste. Thank you for highlighting how my people there are combatting the slew of no only societal challenges but governmental failures. Loved the one about people farming in their back yards to be more self sufficient and survive!
We are falling apart. :( I grew up in Puerto Rico and sadly I needed to move to USA because of the hurricane Maria. I went to visit and it was completely destroyed and different. It wasn’t the same beautiful island 😞
This is why we need statehood Investment Entrepreneurship Citizens HAVE TO STOP being lazy and depending on the government for everything Make Puerto Rico food sovereign
I left PR in 81 and came back retired I 2013 and we lasted a year only , it felt like we were living in a third world country! I'm really sorry but PR is gone and I need good medical care , my mom died of cancer waiting for appointments months at a time. I'm good in PR2 in Kissimmee Fl.
I moved here in 2019, because I was given a vision and now that I am here, the vision is clear for work I have to do in Aguadilla. I am so sorry that this is how the natives experience foreigners and hope I do not add to that negative experience. I don’t have two pennies to rub but I know the work will get done
They're not natives, the natives were all killed off by the Spaniards they were called Taiños, the people that live in Puerto Rico are just the ones that inherited island by the original colonialists, Puerto Ricans are the same as how every white person got to America 🤷🏿♂️
@@___Truth___ The natives actually hid in the mountains, they weren't killed off. Most Puerto Ricans have 3% - 30% Indigenous Puerto Rican DNA, which is Taino.
@@___Truth___ that’s the biggest bullshit ever told by Spaniards, that taínos were dead. I love how some people go and say “If Taínos didn’t die why there aren’t any out there?” and it’s the same answer as to why there aren’t any Spaniards or any Africans here anyone, they mixed up with the rest of society eventually.
@@___Truth___ PEACE ....... what an ignorant world view to have, however what is obvious is the fact that you feed into divisional propaganda that separates you from other human families that you might have common cause and struggles with.... I truly hope u do the knowledge to the things you say cause that statement is beyond ignorant PEACE !!
As a teenager, I've been trying my best to understand this entire issue. It's so unfair to everyone living in Puerto Rico. I've read some comments, and I agree. However, when you search for the "root" of the problem, you realize how Puerto Rico is stuck in a tangled web. And the main source of the problem is the goverment, education, society, you name it. But by making this type of videos, at least is out there for us to learn. Thank you and your staff for the efforts of making the video!
The root of the problem is a decrepit economy by lack of entrepreneurship. The government has to import the investors because they can't get locals to risk their money in the local economy.
Let’s start with this. Washington needs to do a plebiscite with only 2 options: independence or statehood. Part of the issue is the colonial government. How can PR come up with solutions when they are still paying a debt and they have NO sovereignty? History has taught us that you need sovereignty for progress. No sovereignty brings corruption and lack of options to exercise power.
Having friends in higher places in Puerto Rico, I can say that it is corrupt from within. Those in charge are canibilizing all of Puerto Rico to the detriment of the people. Independence would only make this worse. Statehood would likely burden the island nation in ways that are not easily seen beforehand. I think the answer is in learning to use the money that is being put into the economy by those rich who are there to lift the natives of the island up instead of handing out things to keep them down.
I’m for open borders and all that shit I really am but why is it only the United States that gets criticized for not wanting people to move there? Open borders means open borders.
these latinos they love you when they take ur money and also when u let them in your country but when you go to their country and spend a premium they starts double crossing.
On these last elections we massively learned there is no democracy. The votes were manipulated and stolen. PNP party celebrated victory when the numbers hadn’t even been counted.
@@prdeacon974 I own Crypto currencies and if i can find a safe haven to sell and not pay taxes there is where i'm going to.. Taxing the people is only done by the most corrupt people in the world... ..also many of these rich people are Puerto Ricans.. do you live in the island ??? who do you think owns all those businesses... You have rich P.R. dime a dozen... the very girl that posted this video wants to be rich...
@@davidvasquezcalero1053 i would do the same. I believe in a Flat tax. No need to ever file taxes. Just a flat tax. Eliminates the IRS. No need to fund their jobs, and pensions.
I’m Colombian, and while I respect and love Puerto Ricans and their culture, I must say - what do you expect? Most Puerto Ricans don’t even live on the island. I believe the only way for Puerto Rico to avoid losing it’s culture is if the Puerto Rican diaspora return to their island and develop it...
Thanks you for support. I'm puerto rican mix ecuadorian I was born in united states. And I will support puerto rico independence to break free of united states influence out of island for good.
Not only that, but the key is we need INDEPENDENCE ...as long as we are apart of the USA we cant stop nonBoricua Americans from moving in, technically its "their" land too, its America
Why does is matter who moves there? 130,000 Puerto Rican’s LEFT their island for the Mainland in 2019. Got housing and federal help while on the mainland. Anybody bitching about that? Please realize it’s 1 race. HUMAN RACE! The world is for all of us to enjoy. Stop the bullshit. If you want your deep roots to live on then continue to teach the young to keep it alive. You don’t have to live on the island to know who you are. And if a “gringo” moves to the island that is not going to uproot who you are inside. Peace to all colors. We are 1.
@@jays3597 Cause a lot of the people complaining about this are socialist nationalists with massive xenophobia who think everyone who is a foreigner ( specifically white Americans ) and wants to buy a property in the island is a colonists and should “go home” wish is kinda ironic since those are the same people who would scream racism if they we’re in the states and someone told them to go back to there country, a lot of the people who follow this girl on Instagram are extremely racist and xenophobic, a lot even have accounts dedicated to showing hate towards tourist and white people, they have a very secluded anti rest of the world mentality even tho they love to deny it, it’s like they actually believe is the millionaires fault the island in the current situation it’s in, like if PRs economy have been like this way before this
What we need is to educate the people, let them know that they have the power to make changes thru exercising their right to vote. Politicians need to understand that "WE THE PEOPLE" is who elected them and if they are not doing their job, we have the right to fired them!! We need to stand together in order to make changes!! God Bless Puerto Rico!
We didn’t put Pierluisi up there, PNP stole the elections. The movement against them way way too big for them to have won. The numbers were different before the system crashed “mysteriously”, and we all know what happened when the votes were counted by hand.
Rich people who want to recreate what they left are doing this everywhere. It is happening where I live too. The common denominator in all of it: Locals selling out to cash in. Don't sell land and houses to these folks and it will stave it off. Simple, yes, but not easy. People are selling out everything here.
Yo me pongo a pensar que hay sobre 5 millones de boricuas en los Estados Unidos y nadie les puede decir nada. Ahoraaaaa hay menos de 1000 gringos en la maldita colonia y lloran, dejen la maldita lloraera caramba
Bianca!!!! Sooooo Boricua of you to grow that plant out of the Export Sodas can. Love it!!! Thank you for bringing some of Puerto Rico's issues to light for the world to see. The work you are doing is priceless! God bless!
Doesnt matter. Yall aint complaining about Monsanto destroying the land but mad about people seeking a better place for a tax break and in return goes to local stores and people
@@ba9628 yeah, we actually are mad about monsanto fucking up the island. you can be upset about more than one thing at a time, especially when american capitalists are using the island for profit and fucking over native puerto ricanss
Loving your in depth research and exposing what’s really going on. I hope one day Puerto Rico can be free from all of its corruption and start becoming the strong country that we all know it can be!
5:58 not true. You must have purchase these assets while living in Puerto Rico and submitted a form to the IRS to qualify for zero capital gains going forward.
Correct . The capitals gains that would qualify as zero capital gains would have to have happened in PR and onwards . Any capital gains prior to joining PR is still subject to taxes to the state you resided in .
What happened to PR is the plan to do in the U.S. too I was born and raised in PR and 30 years ago there was a mixed society with a strong middle class. Today the middle class has been pushed down and it is starting to look more like a two class society. All about who has lots of $$$. The real priviledge.
It's the same everywhere you need leaders that have a vision and you have to have leaders that understand that you need to create jobs/industries for your people to be able to live a good life. Until you get a handle on the corruption and the lack of major companies relocating/being created it will continue to be bad. It's always easy to blame the Gringo's, but sometimes you got to look in the mirror and ask "am I part of the problem or am I part of the solution"?
When she was my girl, I cheated on her, didn't invest in her, neglected her and didn't really care about her. When her friend Maria visited us in 2017, I decided not so stay. Now, other men are courting her. Paying attention to her and spending more on her than I was ever willing to. Life ain't fair.
“Stimulate economy”, what a joke. Bringing capital to make capital for foreign investment actually does zero benefit for Puerto Rico, at the contrary, Small LOCAL businesses go broke. We don’t want you here and please stay out
@@joseenrique6491 Well stop taking money from the U.S when you have natural disasters.Tell your people to stop joining the U.S military forces to have a better life...Print and use your own money, and see how far that will get you. I am all about the good of man and woman, most of those who protest never have solutions, just anger....FOR WHAT!!!!
@@dodgechargerrt1873 Hot Shot do your research before you start talking bullshit..Are you even Puerto Rican..Im guessing your not..Do you know how much money in taxes Puerto Rico pay the U.S. Look up the Jones Act..The U.S isn't giving shit to PR ..They pay every penny back in taxes..Do your research..
@@edgardoconcepcion2720 Well I am sure it is dollar cost average, my research tells me that from the last disaster they are finding countless warehouses of goods that the U.S sent there that was hidden from your country men by your own goverment worth millions... So if you say you pay taxes to the U.S then that is Great!! But am I wrong, or should I send you links to prove it about all the goodies that was found not handed out .And yes I am a Hot Shot, a 24 year American Combat Veteran and lives in PR...So let's just all get along.
@@dodgechargerrt1873 its Corruption they keep electing the same people over and over ..And these same politicians keep pumping lies to the people..The problem Puerto Rico has is what wall street did with banks in PR..100 billion in debt..U.S not going to bail them out..its a joke and I've had enough with the corruption and everything else...The rich moving to PR and not paying taxes..when our own people can't even open up business because the taxes are to much.
@@stevemasterson7776 yes, sadly politics and religion are treated as sports over here. even if the people themselves don't notice it. thankfully the younger generations are more aware.
@@godofthisshit Centralized long term goverment focused in economic development and the capacity to attract foreign investment and foment the creation of local enterprises through sovereign wealth funds depending on the tangible needs of the nation based on economic predictions + becoming part of global supply lines on industrial parts also they have their own money and most land is administraded through a citizens fund basically making land ownership a civil right by facilitating its aquisition. Also they do business with anyone and dont care about ideological bullshit as long as the deals usefull they didnt get super indebted through miss use of bonds/stockmarkets. Singapores acts like an International corporation with its Hq in a nation state and citizens act as the shareholders. ruclips.net/video/WSKLrGJyELE/видео.html Basically they did business with neighbors and expiremented with manufacturing Puerto Rico abandoned it thinking a true total service economy is possible but that bet failed and potential was lost the Jones Act is a curse on Puerto Rico
@@A2goddess I’ve lived in Puerto Rico with my family there. Only in some places will that happen, not the whole island, and it’s not even guaranteed to happen. It’s not that likely. Most of the island is very peaceful. You should go there sometime.
I lived in Puerto Rico 25 years ago, it has always been this way. One moment, you will walk by 500k house and around the block you can buy guns and Coke.
This video is full of obfuscations, conflations, and deceptive purposefully omitted facts. I love how she says “the most expensive home in Dorado was bought by a family moving from California.” It was bought by self-made PR-born-and-raised Boricua Billionaire, Orlando Bravo, and bought from a gringo. Do Puerto Ricans have no pride? A large percentage of the buyers are PR-born or the next generation who have done well in the mainland. www.bravofamilyfoundation.org/
You hit the nail in the head. They don’t realize that this is a blessing for anyone who wants to do business in PR. Mississippi should be so lucky. Most of these people commenting negatively are of a slave mentality.
Hola bianca, your research about Puerto Rico( mi isla )has motivated me to help in any way I can.I hope the government in PR are aware of this crisis and do something fast to save and preserve our people existence and better way of life.. My familys prayer's goes out to them.and to you Bianca..We got your back..Que Viva Puerto Rico y mi gente
Damn, thanks for covering this. We don't like outsiders that much, they keep the good shit on the island while we are left to live in trash neighborhoods. Our streets are in horrible conditions. You have Pueblos like Aguadilla who are literal ghost towns, houses destroyed everywhere and abandoned. Also Privatization of our beaches is another thing that angers us. They buy OUR beaches, make them private, and we can't use them. Or they buy them, make a hotel that then never opens and land and beach is lost; bcs we can't enter private own land ofc, not even if the land is being wasted and abandoned. This country is being going down for ages and we are the ones who are forced to leave and live somewhere else bcs this Island isn't worth it for us. Which is sad, we shouldn't be forced to leave our homeland bcs there's no opportunity here at all.
Gentrification brings OPPORTUNITIES‼️ start a business that caters to mainland Americans. Pool your money with friends or family if needed. Buy property, fix it and flip it. Rent it to vacationers. The reality is, The Horse Has Already Left The Barn! You won’t stop it. Figure out a way to PROFIT off it. America IS the land of opportunity.
Y lo malo es que el puertoruqueno esta saliendo en masa dejandole el camino libre para que sigan entrando todo el que quiera.Dandole la Isla a todos los que llegan en vez de pelear de quedarse esa es su tierra su casa.Alli hay gente de todas partes del mundo yo creo comprando casas y propiedades como si estuvieran VENDIENDO A PUERTORICO.Como yo sufro cuando veo los videos, todo el mundo quedandose con PR y los verdaderos boricuas vendiendo sus casa y abandonandonla Isla.
La gente se esta saliendo de la isla POR. QUE ESE ES EL PLAN DEL GOBIERNO LOCAL Y DE ESTADOS UNIDOS, esto no es nuevo esto a estado pasando desde 1898 cuando estados Unidos invadio la isla, 80% de las tierras que pueden ser utilizadas para la Agricultura estan en MANOS EXTRANJERAS companieas como MONSANTO las an robado
Pero en que momento ustedes fueron los dueños de la isla? Ustedes llegaron a la isla de Europa. Ahora hay nuevas personas migrando a la isla. Puerto Rico no es un pais, siempre fue colonia de españa y ahora de los Estados Unidos. Que pretenden que la isla se quede vacia mientras ustedes se largan para los Estados Unidos?
deep state - Los puertorriqueños no llegamos de ningún sitio como puertorriqueños, somos una mezcla local, resultado de la unión de españoles, africanos, indios y algún otro país europeo. Nos llegamos, somos de aqui desde siempre, fuimos creados aqui. No llegamos a esta tierra ayer, somos de esta tierra, no vinimos de ningún país buscando Nada, nacimos aquí y de aquí somos y tenemos nuestra cultura, costumbres, y en nosotros reconocemos una identidad propia. No hay un puertorriqueño que niegue que es puertorriqueño y los que se han tenido que ir, emigrar, es buscando alguna oportunidad para ganar más y poder hacer más por su familia, sino no se irían. Esto no es un ghetto para el que lo crea, es un país colonia de otro pero país al fin y al cabo. Ahora mismo con lo del virus la medidas tomadas no son impuestas desde fuera, son nuestras, reclamadas por el pueblo así como las medidas para controlar la mala conducta de los que llegan de fuera. No nos gustan los desórdenes callejeros, ni los abusos a los comerciantes, ni los escándalos en las calles ni nada de eso y menos que, porque no se pueda cerrar el aeropuerto, nos llegue virus de fuera. Por tanto, se tomaron nuevas medidas locales para insistir en el control de ese tipo de cosas. Las medidas no llegaron de fuera, tampoco, son reclamos locales y toma de decisiones locales también. Ahora deberá llegar la persona con una prueba de 72 horas antes y sino, deberá hacérsela aquí y se arriesga a , que de no cumplir, pueda tener que pasar cuarentena en vez de venir a disfrutar su vacación. Por esas mismas incomodidades creadas por visitantes que exhibieron una conducta inadecuada, hay dos personas presas porque no pudieron pagar la fianza que se les impuso. Y es lo que va a seguir pasando porque nosotros vivimos como vivimos y nos cuesta mucho mantener el orden y un buen entendimiento entre todos. Y es lo que queremos. Por otra parte, el tema es que está llegando gente millonaria a vivir en la isla y lo hacen porque tendrán o tienen ventajas económicas. No es que llegue cualquiera - que también puede llegar, de toda la vida PR ha recibido gente de fuera - Es que para dar vivienda a esos millonarios se construyen viviendas de lujo en lugares aventajados de costa sobretodo y hay que ver como afecta eso a una isla limitada en terreno para construir y en áreas de playa la mayoría de las veces y las playas en PR deben poder ser visitadas por los locales y más ahora que la marea está destrozando mucho de las costas. De eso se trata. No de que no vengan! Sino de que no se trate de un negocio para dos o tres nada más a costa del único espacio que tenemo s y o de nuestro medioambiente. Se trata de hacer las cosas bien para ser felices todos al máximo posible. No se que piensas tú que es PR y que son los puertorriqueños. No te hagas ideas basadas en Dios sabe que, si piensas en tu propio país y en tu gente, también sentirás que les quieres ver siempre bien y mantener un país tranquilo, seguro, limpio, con un medioambiente protegido, viviendo en paz para siempre. Que haya un buen futuro para las generaciones venidas, el mejor bienestar posible. Pero la gente no sabe que eso estamos intentando, el mejor bienestar posible si es que nos dejan. Pero desde ya te digo: con sueldos de $7.00 la hora en trabajos que no ofrecen.40 horas semanales, la persona ni tendrá empleo fijo ni las ventajas que ofrece tenerlo. Es más, hay personas trabajando en barras que básicamente ganan $3.00 y se buscan la diferencia en propina. Imagínate! Piensa ahora con los cierres y los espacios limitados en ocupación en negocios que atienden público. - veremos a ver que pasa después pero el futuro no luce bien ahora mismo. Si no hay trabajo bien remunerado y apoyo del gob, no hay forma. - Entonces vamos a los retos: Empiezo por la salud que es el más importante. Si ganas x cantidad no cualificas para el plan de salud del gob, pero si no ganas bien, tampoco puedes pagar un seguro médico privado yen ese limbo de la salud hay miles y miles de personas y la medicina en PR es carísima. En PR la educación pública es floja, todo el que puede paga educación privada para sus hijos y me incluyo, y eso cuesta y cuánto mas aventajada, mas cara. Y oye, en general, todos buscan educación privada para sus hijos. La Luz y el agua son muy caros, caros de verdad. La comida que también es una necesidad mayor es carísima también. - ahí los millonarios estarán bien porque con las ventajas económicas que tendrán ya bien pueden comprar comida- PR es un lugar caro para vivir. Muy caro comparado con el propio EEUU continental. Por eso defender el punto de que la emigracion anda por todos lados es un argumento que no siempre va a sostenerse como válido cuando piensas lo que le puede costar a una familia que emigra venir aquí. En EEUU continental tienen de hecho mucha más ayuda. Sino las personas en apuro de aquí no se irían para alla. Y ahora que tantos negocios se están yendo a quiebra, menos empleo habra. Es un hecho que además muchos empleadores se plantean trabajar desde casa en el futuro porque además ahorrarían dinero. Se sabe que eso mo incentiva la economía ni genera empleos prescisamente. Las personas en PR han recibido ayuda local y o federal y ganan más mientras reciban esa ayuda que trabajando y no quieren volver por $7.00 la hora porque es que no se puede vivir con tan poquísimo dinero! No se puede y menos con los aumentos que llegan de agua y luz que es continuarán a lo largo de un buen número de años. No es si habrá aumentos, es que si están llegando y continuarán por años porque hay que recaudar dinero para la propia infraestructura de esas empresas y porque hay que pagar contratos millonarios a empresas contratadas. Así es que todas esas ideas de venirse para aquí pueden a la larga resultar en un mal momento. No que no puedan venir, pero si no se es millonario o se cuenta con un fondito para sostenerse en lo que quizá se puede tirar para adelante, o se cuenta con un empleo bien remunerado *garantizado, es más mala idea que buena. PR siempre recibió a los que llegaban con los brazos abiertos. No nos creemos nada, estamos viviendo un tiempo muy difícil y es bueno que la gente vea lo que vemos y vivimos los demás para que tomen las mejores decisiones posibles. Es muy difícil comprar casa, pagar acceso controlado, mantenimiento, pagar por uno o dos carros porque la transportación publica es horrible porque nadie asegura que va a pasar el autobús y no hay trenes ni tranvías, hay un tren que da una vuelta por un area muy limitada en la capital y ya está. Aquí si no tienes carro no te mueves, básicamente. Hay que pagar por comida extra cara, colegios caros, agua y luz carísima impuestos / los impuestos locales existen y no perdonan. Pagar seguros de Salud privados ( otro boquete grande al bolsillo) , gasolina , *muchisimos extra si viene un huracán o una tormenta - El Paso del huracán Maria nos costó a mi hija y a mi $5,000 dólares entre gasolina y gastos forzosos y sin contar los daños sufridos, recogido de escombros que volaron, de ramas de árboles y todo eso. Comer fuera se hizo necesario porque no había nada de luz, nada, ni agua por mucho tiempo. El agua de beber se compraba. ( y todavía la compramos y compraremos) Y ya sabes que estás listas siguen porque se mejora poco y todo cuesta cada vez más. Ahora a ver cómo viajas, vas al cine, te pagas alguna alegria o cosas así. Y agradezcamos lo que tenemos la ventaja de tener la casa ya pagada. Que claro, nos costó mucho trabajo lograr las cosas pagando impuestos muy altos para que ahora que las cosas están difíciles no nos ayuden. Como decimos por aquí, “ te lo vendo al costo” lo que ves es lo que hay. No se diga que no fueron avisados. Los puertorriqueños somos los mismos desde que nos crearon y solemos ser gente buena y amigable. Lo que cambian son las circunstancias y no las imponemos nosotros prescisamente. Nosotros como los demás, las sufrimos.
This is so sad and unfortunate. This is what has been happening in Hawaii for the last 2 decades. Housing crisis where locals are forced to move off the island because median housing prices are 900k and no one other than rich guys from CA or Asia can afford...
Census: "More than half (52 percent) of the Native Hawaiian and Other Pacific Islander alone-or-in-combination population lived in just two states, Hawaii (356,000) and California (286,000). "
As a Gringo raised in Nicaragua I've seen and heard the same grumbling's before. Nicaragua went from the 2nd most prosperous nation in Latin America to second in poverty in one year. July 19th 1979 to July 19th 1980. "El día del Trump de la revolución ". I repeat 2nd only to Haiti in one year, it was awful. My beautiful Nicaragua has never fully recovered. A Narco state. Don't be fooled my beautiful Boriqua brothers and sisters by the lying rhetoric. BENDICIONES Puerto Rico. We love you and don't want to loose you. You have brought and contributed so much to this country.
Yo soy Dominicano, todo comienza con el gobierno... nosotros tenemos que reclamar nuestra tierra. La tierra Taina es la tierra más bella del mundo y no las quieren terminar te quitar. Si RD/Haití, PR y Cuba estubieran acuerdo, sería una nación insuperable
Facts man as a Haitian and Cuban born and growing up in those countries for a few years, I despise what HT and CU presidents and governments has allowed and giving the U.S. permission to take advantage of its land and their citizens of the islands. Same for JM and DR governments for allowing the Chinese to come and start beginning to run and build their foundation on these lands too. And now currently finding PR governments are in the same position also, its really sad, because I don't ever want to see these islands become something that they are not naturally. Some people will accept and do anything for a dollar, even if it means screwing over their own native citizens of the islands.
I am from a small island in the US that has been taken over by wealthy people forcing out even the middle class just for they’re vacation homes or air bb’s . Driving cost of living sky high and making housing unattainable for most. This is happening all over the world. There is a lot borinquas could learn from a place like my home . Rejecting investors however is not the answer . Protecting your resources by creating zoning laws, stricter building codes , protecting your beaches and putting land into conservation are a few ways to mitigate the long term negative impacts . Positive things do come from people who bring money to your area . As populations grow land and people are constantly being exploited. We can only hope to steer the exploitation into a positive direction that will benefit all people. Better paying jobs , business opportunities, bringing more money to municipalities to improve infrastructure. These are positive things.
Not all the people moving there are rich so don't be biased. There's just as many rich Puertorican's living in million dollar homes there & not just gringos. If you're retired in the U.S. you get tax freezes on your property. When I turn 65 I get a tax freeze here in the U.S. so why would I want to move there?
This video should get more attention. I wish the media in Puerto Rico wasn’t as corrupt as it is so that we could get this to more people. Still it won’t happen cause ignorance is what keeps them in power
Extremely sad for the brothers and sisters on the island. Scratching my head after the guy said, gentrification has to happen and he needs a place to live. And that made a lot of sense to him 😡. From a former New Yorker that has seen my family affected by gentrification. They can never go back
@Killer Miser Supporting the local community. When gentrifiers move somewhere, they have no interest in supporting the locals. They will support the expensive $5 coffee places and trendy restaurants instead of the locally owned. Also, using that money to invest in existing local businesses. The other issue is the quality of living will be focussed on where they live and not where the locals live - they need to join the fight for that also and raise awareness. Not just sit in their expensive homes and saying "oh well, nothing I can do about it, it's gonna happen anyway". That attitude is not helpful.
The solution is to make the tax breaks a little less good. Corporate to 6% and capital gains to 5% maybe. It probably won't be worth it for people making $500k a year to move there anymore. Would only get $1M or more earners and PR would collect some more taxes.
@@ciagretteskills Importing things to PR is expensive and they have to eat. I would assume organic farmers would do well and can easily undercut the prices at a Whole Foods.
So you get to live in one of the most expensive places in the country? Some poor white communities in the country you've never even passed though would LOVE some gentrification in their neighborhoods....
I stumbled on your video because I wanted to get more content from Puerto Ricans on RUclips. I'm very impressed and will keep following along. Thanks for doing all this research.
Yep. This was presented in a completely one-sided manner. This was a pretty slanted take on the whole thing. The logic is baffling. A bunch of people with lots of money are now willing to spend money, buy services and invest in the Puerto Rican economy and the whole video is a lop-sided attempt to prove that this couldn't possibly contribute to the economy.
this video it's only emotion and no economic knowledge. the benefits of this people's money going there will incredibly boost puerto ricos economy by a lot. the biggest thing keeping puerto ricans poor is the jonnes act.
This is also happening to many other Caribbean islands, including the USVI. It's frustrating seeing natives or a certain group of people being oppressed and pushed out of their own island/countries to make a playground for others. I'm also seeing comments from people on the mainland blaming leftism (really?). No matter how you look at it, conservatives and liberals are all the same when it comes to gentrification, discrimination and entitlement against others, just on different ends of the spectrum.
Thank you for all your hard work you are doing to make ppl aware of the issues that still plague our ppl. My husband and I are moving back home next month and we are encouraging more of our ppl to move back as well. There is a religious group called IUIC Puerto Rico they have recently opened an organization on the island I would encourage you to contact them they may be able to help you in some way. Best of luck to you
I thought I knew a lot about my homeland. But by watching your videos, I realized that I know nothing. Thank you so much for posting your videos. Keep posting and thank you.❤
How is he paying their taxes? The CRIM on a $30 MM home is $200,000 per year. That kind of person probably eats out all the time or hired a cook. They also pay 11% sales tax on anything they buy. Their company, if they can afford a $30 MM home, probably has revenues in the $40 MM+ range and pays patente of another $200,000 per year and $500,000 of income tax. So each of those gringos is paying $900k a year straight to the PR Treasury. That pays the UPR tuition for like 100 students. For 1 gringo. How much is Fernando paying, when he claims he is paying for their school (not true, they send kids to private school), roads (not true they pay for their own roads), etc..?
@@01rju Yes, I didn’t even bring up jobs, no one can run a $40 MM revenue company without hiring people to work. Also, why do people think Act 20/22ers support la junta? They came here to escape the federal government, they don’t want PR to have fewer services or less reconstruction dollars. They don’t want UPR to produce fewer engineers, if anything they want more engineers. They like to eat local farm to table food, they buy organic local farm to table and support local farmers as much as they can (through PRoduce especially). etc etc...
It’s so sad that this is happening to Puerto Rico. They will price you out. We’ve seen it happen to Black and brown communities across the US. It’s happening in my city now. Historical neighborhoods are being destroyed, working class people are displaced through property tax, over priced real estate, increased cost of living, higher rent.
In the US all the cities being gentrified were built and owned by white people before brown people moved in and white people left. The US was a majority white nation until the last 50 years so it is completely different theN PR....
@@glitterandglueforyou Actually you might want to take a history class and look up demographics from the last few hundred years. Yes white people built all the cities in the US, Germans, French, Italians, Irish were the primary immigrants to the US. The whites numbered into the millions and the other races such as Africans were a small minority. LOL you can try to rewrite history but facts are facts....
This is scary. I feel Puerto Rico is expensive already, imagine a few years from now people are not going to be able to afford to live on the island. You will have to have high salaries to be able to live comfortably
I'd imagine it might be like Tahiti. I went there for vacation and I realized most of the citizens work for the resorts and don't make as much and grow their own food and live in shacks in some cases while the rich white europeans live in these nice houses. It was insanely expensive there and without the natives you really wouldn't be able to visit it like we do today, but much of that gentrification was because of WWII.
There is nothing to be scared of! There are a lot of Puerto Ricans that have become wealthy from.....Wait for it...... HARD WORK! WOW what a concept! These hard working Puerto Ricans are spending their money on the island! The horse and buggy days are over, get on the today bus because I guarantee you wont grab a shovel and turn the earth over on the mountain sides! The younger kids are BAGO!!!! Stop playing victim, this is what has been truly hurting Puerto Ricans! And Chuck Schumer is the biggest lying snake pendejo living in his ivory tower trying to exploit the Puerto Rican vote, he needs to worry about his New York gringo landia yuppie's! Puerto Rico and its People will always live whether Rich or Poor!! DO NOT EVER PLAY VICTIM TO NO ONE!!!
“Gentrification is unavoidable” Gentrification can be avoided in most instances if people just lived sustainably and didn’t have to be so extravagant and over the top smh 🤦🏾♀️
It’s better to have a gentrified area that is 925 one. I mean objectively look at all the gentrified ones and they have a much stronger economy and much less crime than previously before meanwhile ones that don’t well often collapse economically. I mean there are dozens of cities that were straight up abanded in the United States that don’t get talked about. Just look at all of the towns that have houses that sold for one dollar why do you think that is? Because they were completely founded because of the lack of economy. People moving to another place is A part of history and it’s usually for the positive just like with the amount of illegal immigrants that come into the United States they are by far a net positive. Despite what any Trump supporter will tell you they help the country way more than they harm it. I can understand why you hate people moving into your area that you don’t know it’s how tribal humans are we are xenophobic in nature because we fear things we don’t know.
Get rid of all those tax breaks act 20,act 22 and in the same trip get rid of The Jones act. The same thing is happening with the island of Mallorca in Spain. Locals are being displaced by all the tourist buying real estate for dirt cheap.
PAC MON What an ignorant statement to make...tourists have nothing to do with this..subject..why arent you Angry at forner governors..who put the island in massive debt??or the protestors..from last year who left graffiti in old San juan
@@CarlosRodriguez-pt3hq Looking at it from the outside, it is just not one thing....The politicians are corrupt, but so are the people....As an example, the Labor participation rate in the island is around 40 percent.
Wait, you have to live six year outside the island to qualify, that’s not ok. It should be for everyone including in the locals in island who want to start a business and benefit from the tax brake.
@@rigom926 Should preface by saying that I respect Puerto Rican culture and understand the colonial nature of the island. However, I do have a question: Hypothetically, if Puerto Rico became a state would you be ok with English becoming mandatory in school? Personally, I would very much be ok with it considering every other state does. But considering Puerto Rico is still a territory I think it’s fine that they still have their own cultural values (language, for instance).
Escriban cartas a la prensa, programas de tv y al gob, la misma carta a todos para que puedan hablar de lo mismo exactamente cuando vayan a comentar. El que no se queja, imposible que lo esuchen.
This is true, I saw a house on Zillow for 6 million also in Dorado. Unbelievable that they will not make them pay taxes, meanwhile people who live there cannot afford food or normal living. Including my dad who is 82 and retired and still struggling after working over 30 years.
Well, they won’t pay any income taxes on their stock investments that is true, but the rest is false. The newcomer buying a $6 MM home in Dorado will will pay approximately $300,000 a year in taxes to PR. Specifically to PR: $75,000 per year to CRIM that goes to the local municipality, ~$30,000 per year in sales taxes, ~$30,000 for each luxury vehicle they bring in or buy each time, most of these people have Act 20 businesses which will pay about 0.2% of revenue each year to the municipality in patente, to afford to buy a $6 million home that is another $50,000 per year in patente to the municipio and $160,000 per year to the central government for the 4% tax. They also have to donate $10,000 per year to local charities and pay $5,000 for the privilege of filling out an annual survey. I’m sorry to hear about your dad, but each of these people’s taxes could support quite a few Boricuas who need help.
@@genierico thanks that is what I thought. My only concern that real estate will go up like is happening in Costa Rica and only the rich can afford it. In addition that prices will go up, may result on an inflation.
@@lucycruz5933 The newcomers are not buying wooden houses with tin roofs they are buying boricua and american absentee owned properties in Dorado or new steel and concrete construction (which don’t build themselves mind you) but actually living in it and starting export services companies to export investment management, legal services, technology consulting, etc. There is a ton of housing available for locals because the total population is 3,000,000 and because of the poor economic situation and better situation in Florida and New York about 3,000-7,000 Puerto Ricans leave Puerto Rico each month for the last 15 years, while there are only 3,000 tax decree holders in total! So unless somehow these 3,000 people are buying 200 houses each, this is just sensationalist journalism. 🤔 Where there is a problem is certain developers, who don’t live on the island, don’t have a decree, are buying up very large beachfront lots. In the 1800s Queen Isabella and Queen Regent Maria Christina (the same one who surrendered PR to the US) gave royal land grants of Puerto Rican land to her supporters and supporters of the Spanish monarchy. Many of those landowners are now selling off that land to stateside developers and since it hasn’t really been used for 150 years, people living nearby and understandably shocked and angry, including Bianca Graulau. But her ire is misdirected. If she really wanted to do some good reporting she’d go through the registry and find out about the royal land grants and what is going down there, instead she is being a puppet of the powers that be and blaming either act 20ers who are mostly talented professionals like Orlando Bravo coming to PR to set up export businesses or Act 22 random crypto gr-gos who generally don’t own or want to own land (save for a couple crazy ones).
@@genierico my friend you wrote a dissertation 😂. Thanks for the information. I welcome everything that helps our people and the economy. Like I said I hope it won’t affect us.
Who do you think sold those houses the people and what your love for taxes... Do you like paying taxes ???? Prior to the 1930's no one in America paid INCOME TAX.. yet Schools, Universities, Bridges, Railroads, etc were built... and you want to penalize people for making money or having money... that sounds very socialist... Don't fall for this Karl Marx B.S.
I’ll be honest. I found this channel looking for information on PR because I want to save money on my taxes. However, I’m a philanthropist at heart. Would love to take a tour of PR and learn more about how much help I can provide to the locals. I’m Mexican BTW.
Bianca - I just saw your video for the first time and I’m really impressed by your quality of video and depth on you journalism. You can be the next Jonny Harris, or more... stay on your path and thanks for your spotlight on such an important topic. Well done!
Why people are complaining about wealth people moving to PR. It a good sing that PR is heading to a higher standard of living. This investors are bring jobs and wealth to PR.
Jeez, it's the same here where I live in the US. High rent is pushing lower income out. It's kind of messed up they're taking advantage of Puerto Rico like that.
The colonization and slavery of our people is a big reason why we don't like people moving here ! Regardless of what help has been given , our heritage and homeland has been effected in many ways .
**WARNING** I'm extremely long winded. Well act 20 and 22 are already gone. The only thing available is act 60 (unless you got act 20 or 22 approval prior to it getting eliminated). It's very similar, but just for clarification in case someone tries and research. As far as the last statistic I've read, only a few thousand people have actually gone through the process and received approval. So the thought that they would magically pull an economy of 3 million + out of a recession is absurd. but just because they didn't pull it out of a recession doesn't mean they haven't contributed. As you mentioned the estimate is over 140 million dollars in spending, and since you also mentioned PR has one of if not the highest sales tax rates. at 10.5% that's over 14 million in revenue for the state. Like you said these lawmakers are likely the ones selling the services, at highly inflated prices (10k plus) so that's new revenue for the puerto rican attorneys which they pay full income taxes on.. Not to mention the government also charges 10k in annual fees to file (on each 20 and 22) the returns from which you got the statistics. (side note, I doubt you would like your government giving your tax return to a reporter). Also, with act 22 (and 60) they are required to donate at least 10k annually to a puerto rican non profit. Also, even if all of the 4,400 are from the act 20. 17,000 new jobs is not a bad thing. Also, all of the act 20 companies are required to pay themselves a "reasonable salary" which they pay normal puerto rican personal income taxes on. In summary: lots of sales tax annual fees local attorneys make more donations to charities 4% corp tax on businesses that otherwise wouldn't be there 17,000+ new jobs personal income tax at full rate This is all new revenue that came from thin air. The only downside is people upset rich people are getting tax breaks. Also, i don't buy that a couple thousand people are having a huge impact on gentrification. dorado, vieques and rincon (as well as condado where a lot of them live in san juan) have all been gringo for decades. A small amount of new people wont make much of a difference when something like 200,000 left after maria, and there have been people leaving beforehand... Also with these laws that were passed there were also laws to entice puerto rican doctors living on the island to stay, i believe another one as well as one for young puerto rican entrepreneurs (wasnt all for gringos). Whether you felt it or not, it is a significant amount of money that entered the governments coffers. Lastly, shouldn't you be most upset with Schumer who is playing keep away with money that people desperately need (because the funding that they are likely talking about withholding is food and housing, along with other essentials)... and he claims he's a friend of puerto rico, some friend...................... Second lastly lol, if Puerto Rico becomes a state, this is all irrelevant. That is why schumer pretends to be a friend after all, more senate and house votes... So if you really hate it there's a way out............... Except when the tax benefits will all disappear, and so will the gringos and jobs. Puerto Ricans will pay US's higher tax rates, plus the islands government has proven they aren't very adverse to spending so you can likely anticipate a state tax as well (and maybe city tax in San juan metro).. If you claim taxes is the only reason they're in PR, Florida will be cheaper with lower crime rates... Plus then minimum wage will spike up to 15/hr within the next few years if democrats get their way, so businesses will go belly up left and right. tourism will likely get hit big, DR is already slightly cheaper than PR, but 15 an hour will widen that gap significantly.
This video is not just about the “amount of money that entered the government coffers,” Bianca Graulau mentioned the “official” self-reported overall figures. We can debate the benefits of this kind of supply-side economics (giving tax incentives to alleged investors with the idea that somehow the results will trickle down and create better economic conditions for others). Hint: The results are not favorable to its proponents. A recent December 2020 study of data spanning 50 years from 18 developed countries found that tax incentives for the rich does not have an effect on growth or unemployment. The evidence in the United States also shows that after tax reductions/incentives the gross national product declines. But, this report is way more than money in the coffers. It’s also about fairness. Some small clarifications; - Act 60 didn’t declared Acts 20 and 22 as gone. It simply consolidated in one Code their dispositions (keeping their regulation while a new one was created), with a few amendments. - Low income taxes don’t always mean low taxes as a whole. When you compare the Effective Total State & Local Tax Rates on Median U.S. Household for Florida and California the difference is just 0.73% (Florida 8.23% versus California 8.96%). So, Florida is not as cheap as some may believe.
@@TheNeverstopfilming While that may be true in places where the rich were already taxpayers in that jurisdiction. That is irrelevant in this situation. These are people that are new to the jurisdiction, so every tax dollar is one that wouldn't have been collected otherwise, and all the economic development is development that otherwise wouldn't have been seen. There was no trade off on the governments side of lower taxes for hopes of development. They got more taxes and more development. I didn't say 60 declared them gone. I said 20 and 22 are gone. And 60 is all that's available. Idk where you got that from. Also no idea where you got that tax rate for Florida from.
Supply-side economics is not about if the capitalists receiving the incentives are local or foreign. The results on the trickle-down are the same. PR has a very long history trying and the results are evident. Good economics is about how healthy is the demand.
I got to live in Puerto Rico for a month last summer, aiding in teaching English in Bible school summer camps. I also got to visit culebra. Being immersed in the culture, the people I met, natural wonders I saw, I go back often in my mind. Hoping to have the chance to go back this summer. So Much love for Puerto Rico🤍
💔Todo esto ya lo tenían planeado desde hace muchísimos años. Nuestra isla y nuestra gente siempre hán sido el ginea pig 😢 Es tan lamentable que es nuestra bella gente que tiene que pagar las consecuencias. Thanks for your work!!👍👍 Keep 'em coming!!
Estoy deacuerdo y le di un copy and paste a este comentario de mas abajo. 07bently.. Bottom line Any tax benefits or land prices or benefits of any type should benefit Puertoricans. This new popularity with Puerto Rico is hurting the island as well as its people, the US has always taken advantage of PR via the Jones act and in so many other ways, if trump would of had his way he would of sold away the island to the highest bidder. All island laws should only benefit Puertoricans and its lawmakers should see this to be! Without money influencing the decision making. Otherwise Puertoricans will be priced out of their own land.
@@vondiasufracara3524 🤔No sé cómo tomar tu comentario?! Pero...Fíjate que NO! Ni lo pienso hacer!!! BTW..Vivo en US pero mi corazón y familia están en la isla.
I was born in PR and raised in FL. My whole life I’ve wanted to move back but it’s never been a financially intelligent decision so I still live in the states. I visit the island almost every year since 2005. I see so much opportunity for growth economically, technologically and financially. If only the politicians cared for the island. I’m so sick of hearing this Puerto Rican pride garbage and Puerto Rican’s with money, power and influence do nothing. I don’t want to be an independent country but I do want more fair laws as a common wealth. I can go on forever sorry for making this so long but it’s honestly heartbreaking being so helpless to make positive change for my Island and people.
I love your videos, not just the information which is so detailed, but all of the shooting, all of the B roll everything is edited so well. I would hope to interview you at some point because I’m starting to make videos like this soon!
![Blox Fruits Dragon Rework Update [Full Stream]](http://i.ytimg.com/vi/EqDAp8udhm0/mqdefault.jpg)
Hi all. A few things I didn’t mention in the story:
I reached out to The 20/22 Act Society as well as PRelocate (both groups represent and work with tax incentive beneficiaries) multiple times requesting an interview and didn’t hear back.
Also, Act 20 & 22 now exist under Act 60. And Puerto Ricans can benefit from Act 20 if they set up a business that exports services.
The same things should be afforded to Puerto Rican entrepreneurs regardless. Is very unlikely to start a business that starts exporting anything out of the island right of the bat. But a start up business can grow to the point it exists or even franchises outside.
Non-Puerto Ricans can only benefit under Act 20 and the Act 20 section of Act 60 if they set up a business that exports services as well.
It’s not like Joe Schmoe can come to PR and set up a restaurant and pay 4% tax versus the neighboring restaurant run by Juan Boricua paying 30%.
The whole idea is to pull a Singapore and attract exporters to increase PR’s balance of trade and promote economic development. Someone buying a multimillion dollar house and actually living in it ends up paying many multiples of tax to the PR government than the average Boricua. There is a net loser, and its the colonial master the US Federal Government...
You also failed to mention the “Californian who bought the most expensive home on the island which is in Dorado and is a $30 MM home” is actually a Boricua born-and raised billionaire (the first) returning to the island, in part because of the Act, to promote Boricua entrepreneurship and business, Orlando Bravo: www.bravofamilyfoundation.org. Are billionaire Boricuas expected to live in lesser accomodations than other billionaires?
A lot of very convenient things left out of the video. If you want to get details speak to Annie Mustafa at the PR Science and Technology trust.
The Act 20/22 Society and Relocate do not trust reporters after being subject to multiple hit pieces. I don’t think they really talk to anyone except maybe El Vocero.
@@genierico
Interesting tidbit.
Still there is too many regulations, permits and licences that choke local entrepreneurs to death.
The heavy toll of permits and licenses should be lifted of all entrepreneurs that's the way of promoting business on the island.
Excellent!
@@RoyCyberPunk They are. Anyone who lives in Puerto Rico can start an Act 20 company, export services, and pay 4% corporate tax and get tax free dividends. Also, any Puerto Rican who works for an act 20 company can receive tax free dividends. Also, some of the biggest beneficiaries of tax incentives are Puerto Rican born doctors. Since moving to PR i started two business and employ over 30 people. Even though my tax rate is low, I have paid a lot of taxes here. Had I not moved here I would have paid zero taxes to Puerto Rico, and not employed anyone here. Those employees also pay taxes that would not have been paid had i not created those jobs. Local lawyers, accountants, realtors, contractors, landscapers, gardeners, personal trainers, hair stylists, waiters, event planners, retailers, etc have all benefitted from having my family as customers, as have local charities we have supported.
many puertoricans are leaving while ppl from other places come ,i aint leaving my island ,mi casita frente a la playa en Aguadilla
Sorry to ask but I wanted to know if u know a Ruben Rosado better known as (Papo) he's my dad I haven't seen him in years he from MOCA I live in Rio Grande
Sorry i dnt know him but my fam have a house in moca ,if i find something about him ill let u know
That would be cool they are known has la familia Rosado anything let me know and thanku so much
Some have to leave not wanting too... Its sad
They will only stay for 15 years, once the tax break program expires, they're gone.
If puetro rico becomes a state, it will become a Hawaii. Real estate will be high and the natives will be pushed to the hills
I’m so scared of that😔💔
What if Puerto Rico looked at St knits and Nieves CBI program (citizen by investment) in combination of independence?
The gringos are already in Utuado papa.
It’s happening.
OMG I'm so scared... What's this? A vampire movie? Respect my vote !!! Puerto Rico 51st State. Statehood = IRS = "Tax Haven" Ends.
Puerto Rico 🇵🇷 will be another Mississippi, if it becomes a state. Worst than now, very poor. Think and research before voting for statehood. Not a good idea.
You are the reason I started to really pay attention to the issues in PR. I lived in Hawaii, and the same thing will happen to PR. People always say that "this is so cheap compared to where I came from". They should wonder why itis so expensive to live in those places before coming to take over our island. Please keep up the great work.
you just want to get in her pants. spare us the BS
I’m a Puerto Rican business owner who has benefitted from the economic influx. The problems in Puerto Rico were not caused by these wealthy residents but by years of corrupt and negligent government. These people have hired many business owners who were suffering for years of a depressed local economy. Restaurants, car dealers, private schools, event planning hotels etc... the list goes on and on of businesses who have flourished die to this influx. Don’t knock it if you are not one that has survived because of these new residents.
Yeah I feel like rich people moving there helps the economy. They still have to pay taxes when they spend. And they spend alot
@@kingtech7174 considering half the island doesn’t pay any taxes!! I’m shock that ppl are complaining. 4% tax on millions collected is a lot more than locals pay!
People just don't get it they are angry and they want to lash out with emotional rationalization instead of logical reasoning. It's a combination of racism against a group that they envy and are covetous of even though they've done nothing to harm them, (in the private sector you get rich and successful by providing value to others) and spend large amounts of money in the area and create jobs. The problem is the government!
While there are legitimate problems with this Law and how it affects locals, the bigger more complex issue is that Puerto Ricans have an inferiority complex created by hundreds of years of Colonialism. We have “lower-casted” ourselves, believing we’re incapable of succeeding, naturally poor, and blame our problems on others instead of using our inner brilliance, resilience, and resourcefulness to create a new economic/ political situation that doesn’t always look to a corrupt local government to solve all of our problems. The problem is the victim narrative is low hanging fruit- especially when it comes to social media. What s harder is taking a long look in the mirror.
Puerto Rico should really look into becoming independent so they can have better opinions to increase the economy
Sounds similar to what happened to the hawaiins in hawaii. The locals can't afford to live in there own homeland so they become homeless
@clot shots like what?
@clot shots interesting 🤔. The people they vote in to represent them haven't done much cuz money talks louder then the voice of the people. (In my opinion)
Obviously they didn't own land. So how were they Hawaiians in the first place?
@@JohnJohnCrusher gentrification obviously took place(money talks) .not sure what u mean bout what makes them hawaiins other then ethnicity.
😔 damn Haole. Hate them
This is exactly what happened in California. I was born and raised in LA and it became Impossible to live there. I moved out of CA in 2012 as taxes and home prices skyrocketed. True Californians are forced to move away as new rich people move to the state!
this happened in most cities with gentrification
Well illegals moved there middle class people didn’t wanna be by them so they raised the prices to force them away. Illegals caused it
Yes, the Californisns were being screwed on their state so they moved and invested in PR to screw another people. They didn't appreciate how CA was milking them, so they go do the same to others in PR. Shameful and hypocritical.
@@Emy53 the problem is those same Californias vote for the same democratic party that keeps fucking them in the ass and then when they leave they bring in the same disastrous tax polices with them.
Yes. It is exactly what happened there. I'm from the Bay Area and have seen it first hand in San Francisco, Oakland, and now many other parts of the state.
Truly heartbreaking to see. I have family members who are suffering from these acts as we speak. Pray for Puerto Rico 🇵🇷
😂😂😂
21 years of economic crisis.
Our kids only know the crisis.
Our elders are tired.
And we are pissed.
And this crisis has nothing to do with the people moving to PR
🤣🤣 so funny you are.
Has to do with the people coming over 500 years of invasion!
Where so you live? Probably not in PR
I’m not pissed. Speak for yourself. Many local businesses have flourished because of this influx of money. No juegues con el arroz y habichuelas nuestros!
So have I. Still sucks for the locals...
Speak objectively.
Caparra en la casa, yes, im from P fkn R.
As a Texan, I know the feeling. Homelessness has increased in the cities from housing prices going up. And the people moving here do not respect traditions. They try to change it to the same place they left. And if there’s a historical sight or building they wanna tear it down to make a Starbucks or In-n-out. I hope they don’t California your Puerto Rico.
Yeah this is talking about a few 1000s of people total that applied for acr 60 not tens and tens and hundreds of thousands from California and Central and south America
It won’t happen especially the conservative Hispanics it ain’t gunna fly around Texas man trust me.
@@alexchavez3244 lolol mass illegal immigration would prove other wise... yes legal latin immigrants know the dangers of collectivism. Thats why the left is pushing for open boarders.
@@stevemasterson7776 it’s all about money and the California people know if they can move to Texas they can hustle Hispanics to work for chump change it’s capitalism man that’s why you see many Hispanics work but they don’t use they’re money to build a business to now work like the Jews who get all they’re money together and buy businesses.
Don't worry. Most of those people in California are from the East Coast who brought their leftist ideals to CA and ruined it. You're not getting CA in Texas as much as you think. You're getting New England.
I’m mexican and I used to live in guaynabo, I left after maria because I was still in high school but i can’t wait to go back after I graduate from college, life is just so much more slow paced and relaxed on the island and I truly miss it.
I’m Mexican and lived in PR too it’s paradise compared to the crappy as town I lived in Mexico I took my girlfriend there once she never complained about PR anymore lol
You will always be welcome.
@@luisvilla799 You don’t like Mexico? A guy was telling me that Mexico is cheaper than PR. I will like to visit Guadalajara Mex. Best wishes.
Bianca, you are intelligent, fearless, and very accurate in your reporting facts. As a Puerto Rican born and in Caguas and leaving the island at early age, I am so proud of you. May God bless and protect you from the evil ones!
In the closing segment Bianca discussed Senator Schumer's assertion that he wanted to force the PR governor to rescind Law 22. She said that this would get into the issue of Puerto Rico's "autonomy." The truth is that Puerto Rico has no autonomy except what Congress decides to give. PROMESA, Puerto Rico v Sanchez Valle, Puerto Rico v Franklin California Tax Free Trust, definitively established that Puerto Rico belongs to Congress. The junta, established by PROMESA, has power over the legislature. Puerto Rico has no autonomy, it is a colony subject to the plenary powers of Congress.
Shummer is POS, he doesn't care about PR, the POS cares about el voto de los Puertoriqueños en NY y FL
Anything that the Demorats touchs turns to shit. Look what they did to the cities in the USA.
If that happens you'll hear a sucking sound as billions leave the island for st kits lolol
Congress using their plenary powers gave PR the "commonwealth" so that Puerto Ricans manage their own affairs like any other state. And look what Puerto Ricans have accomplished, a disastrous economy and corruption ending in bankruptcy. The federals had to intervene one more time to save Puerto Rico from itself.
Schumer wants that money invested in PR to go back to the states(NY) .Many of those investor come from NY.He has no interest in solving PR issues.
Thank you for putting these stories out for everyone to see! For so long the island has been invisible to the outside world. Keep it up! We need more people to do the same
I think that the root of this particular issue is not that the island has been invisible to the outside world, but that the island has been blind to how the rest of the world operates. 8-)
Great video, thanks for making it easier for me to understand. Much appreciated.
Nice teaching tump up 👍
I will always recommend your videos for beginners to gave a basic understanding of stocks and crypto currency.
It's time the world should appreciate the development of crypto currency, coz the way it makes good returns within a short period of time to, makes it so much lucrative and profitable
Crypto currency is the future, investing in it will be the wisest thing to do especially with the current rise.
Making money is easier through investment, don't save money, buy assets and invest in bitcoin
So true.... But where is Ricky Martin, Jlo, Fonsi, Marc Anthony and all those artists that always saying something specially about the government but not about their pockets...🤷
THANK YOU!
YOu want to give the goverment your money?
Don't put it on them to save Puerto Rico, we have to rebuild it ourselves. We have to fix the land from what colonizers did to it for food sovereignty. Go after the white billionaires, not the Puerto Ricans that managed to find success.
Reparations.
@@pianistchicks Why always have to be about race? Reparations? Im Puerto Rican and if we want to blame someone is ourselves. The mentality of give me/reparations is not the answer. What about personal responsibility? Im not counting on any of the artists they just talk when is convenience for them. They like to talk but love their mansions and their security but not for the ordinary people. Maybe some thank Muñoz Marin and the "mantengo" for PR. The mentality of the "give me" needs to change. The day I see any artist, politician sharing their money or better yet really caring with no manipulation, that day PR would be better. The same ones complaining about everything are allowing mexicans to work "las fincas" because we are too good for that.
@@sirluisray1974 nope, neither I implied that...
Just got back from PR couple days ago. Thinking about moving back home. This video opened my eyes to so much. Thank you!
Better go right now and sell everything to the non natives ...
This just proves in the US, try to tax the rich they will move
Yea the rich shouldn’t have to pay for everyone else’s free living that don’t want to work 😂
Dude they are RICH HUH you stupid they can't even taxes them how they want they will still stay in Puerto Rico even if they tax them high
If they do tax them high they will change area and go live somewhere else in Puerto Rico you stupid or what 😂😂😂😂😂😂😂😂😂🙄
Tax them high 😂😂😂😂😂😂😂😂😂😂 they Rich Rich they god money child 🤑🤑🤑🤑🤑💰
@Juelz D they are moving to a place where they still get the benefits as US citizens. They ain’t moving to Ireland.
@@godofthisshit Because it's a good option. There's other options outside of the US too. It makes sense for them to reap these low tax and benefits and stay in the country at the same time.
My family is from Dorado, PR specifically Los Puertos. Growing up I heard stories about how my abuelo used to work for Don Fonallda and the family. He used to be their mayordomo for farms like La Julia. Dorado was beautiful for EVERYONE and still is but the divide is so unfortunate. I had to leave after H. Maria destroyed my home and haven't been back since. I wish I stayed I miss my home, my people, and the land.
Go back♡
I lived in las quintas de dorado from 1980 till1991 then moved to los puertos till 93.came to fla.been here thinkin bout going back to buy and retire.might have seen you.god bless.
What a coward to leave your land.
I believe you're doing a great job keeping us informed of issues in Puerto Rico.
This is no issue we need more Americans in PR so we can move forward. Right now PR is a shithole. Lawless, barbarism and garbage everywhere.
@@tyruswarwick2508 You just described the South of USA. Congrats 👏
@@jeremycordero3029 it's the south of usa because of illegals and all the PRicans who moved there. Haha
Tyrus warwick Why are u hating on us Puerto Ricans? What did we ever do to u?! Can u stop being so xenophobic?! I hate how many ppl just hate on other ppl from other countries without even knowing what’s happening in that place
@@vampyre_1 it's the truth. Tienen el país hecho una cloaca.
Did you reach out to the Mayor of Dorado for a reaction? He’s been in office for well over 20 years and has made sure rich people in that town are protected.
Lol he used to be my neighbor
@@JulianoVitiello so you would know first hand
@@ramonburgos6351 I know 1st hand I worked at the ritz as a driver (independently small business) made many connections. My grandparents sold one of the only houses in mameyal with beach acces for a nice profit. They had the property for 30 years, tore down the tiny house and built a new house 4 years ago. And they just sold their house in paseos de las olas that they bought 2 years ago for a 200k profit. The guy paid cash.
Both buyers were there for tax incentives and both payed cash. (Correction, beach ouse built 4 years ago sold fot 250k proffit too
@@JulianoVitiello good for them! The video fails to point out that these tax exemptions were put in place by local politicians over 8 years ago. This is not Logan Paul’s fault or any of the other main landers moving there.
I can only reminis now.. It's 1996, im eight, family on the beach. Cabo Rojo. Mix music in the air, grill and dominoes in the back, swinging hammok with a burger in hand. I smell the ocean, I feel the sand. Puerto Rico I miss you.
i felt that in my soul
I felt that in the island, especially the mountains of Guayama...in the 70s ., 80s
This is EVERYWHERE…not just PR
Ever since hurricane Maria I was nervous of the gentrification becoming a reality . Now I know it was a nail in the coffin . We need to get together and buy this land outright . All our Purto Ricans in America can donate to buy as much as possible to keep it from being invaded by the colonist who we know only care about themselves . Reserve most of the land for native families and issue a fair way of economics in puerto rico . This can't go on as it has . We will turn into San Francisco but in a way worse . 30% of native people will be in prison while the rest work for the insanity of rich people law .
I live in San Francisco and I hope Puerto Ricans vote for a Government to tax these guys. These folks are not brining jobs they are just hoarding in large sums of investments to buy up everything on the cheap. Its what happen to us in San Francisco. Although lot of the rich folks are leaving, they have left a mess. City won't be the same for a while or maybe never.
🤣🤣🤣🤣🤣🤣🤣🤣
My wife (originally from PR) and I are thinking of moving permanently to PR this year (we have family in Arecibo), and we both work in tech (from Brooklyn NY). I have a goal of teaching code, and hopefully, make that happen in the Arecibo community first.
You're deeply regret that decision. Trust me. I actually lived in Arecibo many years. Its a dump just like the rest of the country. Don't be swindled by your wife and the pretty beaches.
@@MrSupernova111 fail in order to succeed.
@@MrSupernova111 Puerto Rico nor Arecibo are Dumps! I'm glad you're gone. Plebe!😡
@@supwill i want to help. Former NASA silicon valley, UT Texas exes. Im boricua, living in Texas. Plan on expanding my company to Cidra
I left PR in the late 80s due to many reasons. Returned in 2012 to see if I could adjust to the conditions there and I couldn’t. It’s a shame that such a beautiful island/country is in such disarray and waste. Thank you for highlighting how my people there are combatting the slew of no only societal challenges but governmental failures. Loved the one about people farming in their back yards to be more self sufficient and survive!
The Mayority Of People Dont Speek English...This Is The A Real Fact...And The Goverment Corruption Is A Cáncer...
We are falling apart. :( I grew up in Puerto Rico and sadly I needed to move to USA because of the hurricane Maria. I went to visit and it was completely destroyed and different. It wasn’t the same beautiful island 😞
This is why we need statehood
Investment
Entrepreneurship
Citizens HAVE TO STOP being lazy and depending on the government for everything
Make Puerto Rico food sovereign
Yet most puerto ricans vote democrat...it makes no sense.
I left PR in 81 and came back retired I 2013 and we lasted a year only , it felt like we were living in a third world country!
I'm really sorry but PR is gone and I need good medical care , my mom died of cancer waiting for appointments months at a time. I'm good in PR2 in Kissimmee Fl.
Best journalism on the internet here on this channel. Fair and balanced stories on important but underrepresented topics. Thanks.
I moved here in 2019, because I was given a vision and now that I am here, the vision is clear for work I have to do in Aguadilla. I am so sorry that this is how the natives experience foreigners and hope I do not add to that negative experience. I don’t have two pennies to rub but I know the work will get done
Thank you, just be the difference, only one person can change it, thanks and cheers.
They're not natives, the natives were all killed off by the Spaniards they were called Taiños, the people that live in Puerto Rico are just the ones that inherited island by the original colonialists, Puerto Ricans are the same as how every white person got to America 🤷🏿♂️
@@___Truth___ The natives actually hid in the mountains, they weren't killed off. Most Puerto Ricans have 3% - 30% Indigenous Puerto Rican DNA, which is Taino.
@@___Truth___ that’s the biggest bullshit ever told by Spaniards, that taínos were dead. I love how some people go and say “If Taínos didn’t die why there aren’t any out there?” and it’s the same answer as to why there aren’t any Spaniards or any Africans here anyone, they mixed up with the rest of society eventually.
@@___Truth___ PEACE ....... what an ignorant world view to have, however what is obvious is the fact that you feed into divisional propaganda that separates you from other human families that you might have common cause and struggles with.... I truly hope u do the knowledge to the things you say cause that statement is beyond ignorant PEACE !!
As a teenager, I've been trying my best to understand this entire issue. It's so unfair to everyone living in Puerto Rico. I've read some comments, and I agree. However, when you search for the "root" of the problem, you realize how Puerto Rico is stuck in a tangled web. And the main source of the problem is the goverment, education, society, you name it. But by making this type of videos, at least is out there for us to learn. Thank you and your staff for the efforts of making the video!
The colonization is the main problem. This system was forced on us.
The root of the problem is a decrepit economy by lack of entrepreneurship. The government has to import the investors because they can't get locals to risk their money in the local economy.
@@dplacers
Exactly.
The main root of the problem is America!
I think an important question is “How do we help improve Puerto Rico’s economy?”
It’s ok to complain about problems, but we need solutions too.
If i am not mistaken, wr are not allowed to go bankrupt like the states can and if you want, you can look into the Jones act. That hurts us as well.
Let’s start with this. Washington needs to do a plebiscite with only 2 options: independence or statehood. Part of the issue is the colonial government. How can PR come up with solutions when they are still paying a debt and they have NO sovereignty? History has taught us that you need sovereignty for progress. No sovereignty brings corruption and lack of options to exercise power.
Solution pr independence
Remove the Jones Act, let us pay fair prices for products, that would be a start. Same goes for Hawaii, this shit is crazy. Enough.
Having friends in higher places in Puerto Rico, I can say that it is corrupt from within. Those in charge are canibilizing all of Puerto Rico to the detriment of the people. Independence would only make this worse. Statehood would likely burden the island nation in ways that are not easily seen beforehand. I think the answer is in learning to use the money that is being put into the economy by those rich who are there to lift the natives of the island up instead of handing out things to keep them down.
I’m for open borders and all that shit I really am but why is it only the United States that gets criticized for not wanting people to move there? Open borders means open borders.
these latinos they love you when they take ur money and also when u let them in your country but when you go to their country and spend a premium they starts double crossing.
I always say when things like this exists, it’s always the politicians we vote in who passed these rules.
You like to pay taxes..
@@davidvasquezcalero1053 nobody does. These politicians are all corrupt. They allow there sneaky tax laws because nobody hold them accountable
On these last elections we massively learned there is no democracy. The votes were manipulated and stolen. PNP party celebrated victory when the numbers hadn’t even been counted.
@@prdeacon974 I own Crypto currencies and if i can find a safe haven to sell and not pay taxes there is where i'm going to.. Taxing the people is only done by the most corrupt people in the world... ..also many of these rich people are Puerto Ricans.. do you live in the island ??? who do you think owns all those businesses... You have rich P.R. dime a dozen... the very girl that posted this video wants to be rich...
@@davidvasquezcalero1053 i would do the same. I believe in a Flat tax. No need to ever file taxes. Just a flat tax. Eliminates the IRS. No need to fund their jobs, and pensions.
I’m Colombian, and while I respect and love Puerto Ricans and their culture, I must say - what do you expect? Most Puerto Ricans don’t even live on the island. I believe the only way for Puerto Rico to avoid losing it’s culture is if the Puerto Rican diaspora return to their island and develop it...
Thanks you for support. I'm puerto rican mix ecuadorian I was born in united states. And I will support puerto rico independence to break free of united states influence out of island for good.
Not only that, but the key is we need INDEPENDENCE ...as long as we are apart of the USA we cant stop nonBoricua Americans from moving in, technically its "their" land too, its America
Im from rincon 🇵🇷 and this is sad but true
Why does is matter who moves there? 130,000 Puerto Rican’s LEFT their island for the Mainland in 2019. Got housing and federal help while on the mainland. Anybody bitching about that? Please realize it’s 1 race. HUMAN RACE! The world is for all of us to enjoy. Stop the bullshit. If you want your deep roots to live on then continue to teach the young to keep it alive. You don’t have to live on the island to know who you are. And if a “gringo” moves to the island that is not going to uproot who you are inside. Peace to all colors. We are 1.
@@jays3597 Cause a lot of the people complaining about this are socialist nationalists with massive xenophobia who think everyone who is a foreigner ( specifically white Americans ) and wants to buy a property in the island is a colonists and should “go home” wish is kinda ironic since those are the same people who would scream racism if they we’re in the states and someone told them to go back to there country, a lot of the people who follow this girl on Instagram are extremely racist and xenophobic, a lot even have accounts dedicated to showing hate towards tourist and white people, they have a very secluded anti rest of the world mentality even tho they love to deny it, it’s like they actually believe is the millionaires fault the island in the current situation it’s in, like if PRs economy have been like this way before this
What we need is to educate the people, let them know that they have the power to make changes thru exercising their right to vote. Politicians need to understand that "WE THE PEOPLE" is who elected them and if they are not doing their job, we have the right to fired them!! We need to stand together in order to make changes!! God Bless Puerto Rico!
That's right !!! If we put those Politicians there we can also remove them like we did with Ricky Rosello !!!
We didn’t put Pierluisi up there, PNP stole the elections. The movement against them way way too big for them to have won. The numbers were different before the system crashed “mysteriously”, and we all know what happened when the votes were counted by hand.
Rich people who want to recreate what they left are doing this everywhere. It is happening where I live too. The common denominator in all of it: Locals selling out to cash in. Don't sell land and houses to these folks and it will stave it off. Simple, yes, but not easy. People are selling out everything here.
Yo me pongo a pensar que hay sobre 5 millones de boricuas en los Estados Unidos y nadie les puede decir nada. Ahoraaaaa hay menos de 1000 gringos en la maldita colonia y lloran, dejen la maldita lloraera caramba
Complejos y falta de perspectiva, tanto histórica como global...
Bianca!!!! Sooooo Boricua of you to grow that plant out of the Export Sodas can. Love it!!! Thank you for bringing some of Puerto Rico's issues to light for the world to see. The work you are doing is priceless! God bless!
I don't actually have a problem him moving here it's money that would be going somewhere else
That money is not going to Puerto Ricans
Doesnt matter. Yall aint complaining about Monsanto destroying the land but mad about people seeking a better place for a tax break and in return goes to local stores and people
@@logstriketech6360 he doesn't have to give it to them
@@ba9628 yeah, we actually are mad about monsanto fucking up the island. you can be upset about more than one thing at a time, especially when american capitalists are using the island for profit and fucking over native puerto ricanss
He won't pay sh!t. Just like the maldito that killed the dog this week. Zalil zaveri.
Loving your in depth research and exposing what’s really going on. I hope one day Puerto Rico can be free from all of its corruption and start becoming the strong country that we all know it can be!
Only when we get rid of the USA!
Country??
5:58 not true. You must have purchase these assets while living in Puerto Rico and submitted a form to the IRS to qualify for zero capital gains going forward.
Correct . The capitals gains that would qualify as zero capital gains would have to have happened in PR and onwards . Any capital gains prior to joining PR is still subject to taxes to the state you resided in .
What happened to PR is the plan to do in the U.S. too I was born and raised in PR and 30 years ago there was a mixed society with a strong middle class. Today the middle class has been pushed down and it is starting to look more like a two class society. All about who has lots of $$$. The real priviledge.
It's the same everywhere you need leaders that have a vision and you have to have leaders that understand that you need to create jobs/industries for your people to be able to live a good life. Until you get a handle on the corruption and the lack of major companies relocating/being created it will continue to be bad. It's always easy to blame the Gringo's, but sometimes you got to look in the mirror and ask "am I part of the problem or am I part of the solution"?
When she was my girl, I cheated on her, didn't invest in her, neglected her and didn't really care about her. When her friend Maria visited us in 2017, I decided not so stay. Now, other men are courting her. Paying attention to her and spending more on her than I was ever willing to. Life ain't fair.
Exactly lol
Oh please
So people with money shouldn’t move to PR to bring money and stimulate the local economy?
“Stimulate economy”, what a joke. Bringing capital to make capital for foreign investment actually does zero benefit for Puerto Rico, at the contrary, Small LOCAL businesses go broke. We don’t want you here and please stay out
@@joseenrique6491 Well stop taking money from the U.S when you have natural disasters.Tell your people to stop joining the U.S military forces to have a better life...Print and use your own money, and see how far that will get you. I am all about the good of man and woman, most of those who protest never have solutions, just anger....FOR WHAT!!!!
@@dodgechargerrt1873 Hot Shot do your research before you start talking bullshit..Are you even Puerto Rican..Im guessing your not..Do you know how much money in taxes Puerto Rico pay the U.S.
Look up the Jones Act..The U.S isn't giving shit to PR ..They pay every penny back in taxes..Do your research..
@@edgardoconcepcion2720 Well I am sure it is dollar cost average, my research tells me that from the last disaster they are finding countless warehouses of goods that the U.S sent there that was hidden from your country men by your own goverment worth millions... So if you say you pay taxes to the U.S then that is Great!! But am I wrong, or should I send you links to prove it about all the goodies that was found not handed out .And yes I am a Hot Shot, a 24 year American Combat Veteran and lives in PR...So let's just all get along.
@@dodgechargerrt1873 its Corruption they keep electing the same people over and over ..And these same politicians keep pumping lies to the people..The problem Puerto Rico has is what wall street did with banks in PR..100 billion in debt..U.S not going to bail them out..its a joke and I've had enough with the corruption and everything else...The rich moving to PR and not paying taxes..when our own people can't even open up business because the taxes are to much.
The problems showcased in Dorado on this video are strictly a Municipal level issue, yet they've continue to elect the same Major for many years.
Exactly! They could be the Singapore of the Caribbean but choose the nepotism and corruption
@@stevemasterson7776 yes, sadly politics and religion are treated as sports over here. even if the people themselves don't notice it. thankfully the younger generations are more aware.
@@stevemasterson7776 Why did Singapore become wealthy?
@@godofthisshit Centralized long term goverment focused in economic development and the capacity to attract foreign investment and foment the creation of local enterprises through sovereign wealth funds depending on the tangible needs of the nation based on economic predictions + becoming part of global supply lines on industrial parts also they have their own money and most land is administraded through a citizens fund basically making land ownership a civil right by facilitating its aquisition. Also they do business with anyone and dont care about ideological bullshit as long as the deals usefull they didnt get super indebted through miss use of bonds/stockmarkets. Singapores acts like an International corporation with its Hq in a nation state and citizens act as the shareholders.
ruclips.net/video/WSKLrGJyELE/видео.html
Basically they did business with neighbors and expiremented with manufacturing
Puerto Rico abandoned it thinking a true total service economy is possible but that bet failed and potential was lost the Jones Act is a curse on Puerto Rico
I don't see anybody crying when they move to the mainland so why cry when people move to the island?
Jajaja your funny. Go read a book.
@@jonathano.2935 Hahaha that was a lame comeback! I'm sure that really hurt his feelings.. Ooooooo read a book! Ooooo haha
You can’t be serious…..
Facts
People went into PR, commuted genocide, stole gold and land. That affects them till this day...
They're just going to turn it into another Hawaii
What a shame
If they get killed in Puerto Rico it's not our fuckn problem.
@@A2goddess “if they get killed in Puerto Rico” what?
@@zzztriplezzz5264 theres alot of drugs, gangs, poverty and etc.
@@A2goddess I’ve lived in Puerto Rico with my family there. Only in some places will that happen, not the whole island, and it’s not even guaranteed to happen. It’s not that likely. Most of the island is very peaceful. You should go there sometime.
I lived in Puerto Rico 25 years ago, it has always been this way. One moment, you will walk by 500k house and around the block you can buy guns and Coke.
My kind of neighborhood lol
Thanks for the cold hard truth!
That different
It's no different here in California
Just like in every city!
This is so well made, thank you for this. Honestly, thank you.
This video is full of obfuscations, conflations, and deceptive purposefully omitted facts. I love how she says “the most expensive home in Dorado was bought by a family moving from California.” It was bought by self-made PR-born-and-raised Boricua Billionaire, Orlando Bravo, and bought from a gringo. Do Puerto Ricans have no pride?
A large percentage of the buyers are PR-born or the next generation who have done well in the mainland.
www.bravofamilyfoundation.org/
You hit the nail in the head. They don’t realize that this is a blessing for anyone who wants to do business in PR. Mississippi should be so lucky. Most of these people commenting negatively are of a slave mentality.
come live here with zero tax breaks, then talk.
Sensationalism sells...
The problem isn't rich ppl moving to PR. It's the Puerto Rican government. The fact that some people are still blind to this is sad.
Hola bianca, your research about Puerto Rico( mi isla )has motivated me to help in any way I can.I hope the government in PR are aware of this crisis and do something fast to save and preserve our people existence and better way of life.. My familys prayer's goes out to them.and to you Bianca..We got your back..Que Viva Puerto Rico y mi gente
@@MRJAMES787 The government and those who benefit from this.
Aware of the crisis? Who do you think started it?
I recommend not living in P.R. The number one failure is the government and while poverty is rising crimes are going up as well.
crimes are going up everywhere in the world as well.
Yea
Damn, thanks for covering this. We don't like outsiders that much, they keep the good shit on the island while we are left to live in trash neighborhoods. Our streets are in horrible conditions. You have Pueblos like Aguadilla who are literal ghost towns, houses destroyed everywhere and abandoned. Also Privatization of our beaches is another thing that angers us. They buy OUR beaches, make them private, and we can't use them. Or they buy them, make a hotel that then never opens and land and beach is lost; bcs we can't enter private own land ofc, not even if the land is being wasted and abandoned. This country is being going down for ages and we are the ones who are forced to leave and live somewhere else bcs this Island isn't worth it for us. Which is sad, we shouldn't be forced to leave our homeland bcs there's no opportunity here at all.
Gentrification brings OPPORTUNITIES‼️ start a business that caters to mainland Americans. Pool your money with friends or family if needed. Buy property, fix it and flip it. Rent it to vacationers.
The reality is, The Horse Has Already Left The Barn! You won’t stop it.
Figure out a way to PROFIT off it. America IS the land of opportunity.
Y lo malo es que el puertoruqueno esta saliendo en masa dejandole el camino libre para que sigan entrando todo el que quiera.Dandole la Isla a todos los que llegan en vez de pelear de quedarse esa es su tierra su casa.Alli hay gente de todas partes del mundo yo creo comprando casas y propiedades como si estuvieran VENDIENDO A PUERTORICO.Como yo sufro cuando veo los videos, todo el mundo quedandose con PR y los verdaderos boricuas vendiendo sus casa y abandonandonla Isla.
La gente se esta saliendo de la isla POR. QUE ESE ES EL PLAN DEL GOBIERNO LOCAL Y DE ESTADOS UNIDOS, esto no es nuevo esto a estado pasando desde 1898 cuando estados Unidos invadio la isla, 80% de las tierras que pueden ser utilizadas para la Agricultura estan en MANOS EXTRANJERAS companieas como MONSANTO las an robado
Pero en que momento ustedes fueron los dueños de la isla? Ustedes llegaron a la isla de Europa. Ahora hay nuevas personas migrando a la isla. Puerto Rico no es un pais, siempre fue colonia de españa y ahora de los Estados Unidos. Que pretenden que la isla se quede vacia mientras ustedes se largan para los Estados Unidos?
deep state - Los puertorriqueños no llegamos de ningún sitio como puertorriqueños, somos una mezcla local, resultado de la unión de españoles, africanos, indios y algún otro país europeo. Nos llegamos, somos de aqui desde siempre, fuimos creados aqui. No llegamos a esta tierra ayer, somos de esta tierra, no vinimos de ningún país buscando Nada, nacimos aquí y de aquí somos y tenemos nuestra cultura, costumbres, y en nosotros reconocemos una identidad propia. No hay un puertorriqueño que niegue que es puertorriqueño y los que se han tenido que ir, emigrar, es buscando alguna oportunidad para ganar más y poder hacer más por su familia, sino no se irían. Esto no es un ghetto para el que lo crea, es un país colonia de otro pero país al fin y al cabo. Ahora mismo con lo del virus la medidas tomadas no son impuestas desde fuera, son nuestras, reclamadas por el pueblo así como las medidas para controlar la mala conducta de los que llegan de fuera. No nos gustan los desórdenes callejeros, ni los abusos a los comerciantes, ni los escándalos en las calles ni nada de eso y menos que, porque no se pueda cerrar el aeropuerto, nos llegue virus de fuera. Por tanto, se tomaron nuevas medidas locales para insistir en el control de ese tipo de cosas. Las medidas no llegaron de fuera, tampoco, son reclamos locales y toma de decisiones locales también. Ahora deberá llegar la persona con una prueba de 72 horas antes y sino, deberá hacérsela aquí y se arriesga a , que de no cumplir, pueda tener que pasar cuarentena en vez de venir a disfrutar su vacación. Por esas mismas incomodidades creadas por visitantes que exhibieron una conducta inadecuada, hay dos personas presas porque no pudieron pagar la fianza que se les impuso. Y es lo que va a seguir pasando porque nosotros vivimos como vivimos y nos cuesta mucho mantener el orden y un buen entendimiento entre todos. Y es lo que queremos. Por otra parte, el tema es que está llegando gente millonaria a vivir en la isla y lo hacen porque tendrán o tienen ventajas económicas. No es que llegue cualquiera - que también puede llegar, de toda la vida PR ha recibido gente de fuera - Es que para dar vivienda a esos millonarios se construyen viviendas de lujo en lugares aventajados de costa sobretodo y hay que ver como afecta eso a una isla limitada en terreno para construir y en áreas de playa la mayoría de las veces y las playas en PR deben poder ser visitadas por los locales y más ahora que la marea está destrozando mucho de las costas. De eso se trata. No de que no vengan! Sino de que no se trate de un negocio para dos o tres nada más a costa del único espacio que tenemo s y o de nuestro medioambiente. Se trata de hacer las cosas bien para ser felices todos al máximo posible. No se que piensas tú que es PR y que son los puertorriqueños. No te hagas ideas basadas en Dios sabe que, si piensas en tu propio país y en tu gente, también sentirás que les quieres ver siempre bien y mantener un país tranquilo, seguro, limpio, con un medioambiente protegido, viviendo en paz para siempre. Que haya un buen futuro para las generaciones venidas, el mejor bienestar posible. Pero la gente no sabe que eso estamos intentando, el mejor bienestar posible si es que nos dejan. Pero desde ya te digo: con sueldos de $7.00 la hora en trabajos que no ofrecen.40 horas semanales, la persona ni tendrá empleo fijo ni las ventajas que ofrece tenerlo. Es más, hay personas trabajando en barras que básicamente ganan $3.00 y se buscan la diferencia en propina. Imagínate! Piensa ahora con los cierres y los espacios limitados en ocupación en negocios que atienden público. - veremos a ver que pasa después pero el futuro no luce bien ahora mismo. Si no hay trabajo bien remunerado y apoyo del gob, no hay forma. - Entonces vamos a los retos: Empiezo por la salud que es el más importante. Si ganas x cantidad no cualificas para el plan de salud del gob, pero si no ganas bien, tampoco puedes pagar un seguro médico privado yen ese limbo de la salud hay miles y miles de personas y la medicina en PR es carísima. En PR la educación pública es floja, todo el que puede paga educación privada para sus hijos y me incluyo, y eso cuesta y cuánto mas aventajada, mas cara. Y oye, en general, todos buscan educación privada para sus hijos. La Luz y el agua son muy caros, caros de verdad. La comida que también es una necesidad mayor es carísima también. - ahí los millonarios estarán bien porque con las ventajas económicas que tendrán ya bien pueden comprar comida- PR es un lugar caro para vivir. Muy caro comparado con el propio EEUU continental. Por eso defender el punto de que la emigracion anda por todos lados es un argumento que no siempre va a sostenerse como válido cuando piensas lo que le puede costar a una familia que emigra venir aquí. En EEUU continental tienen de hecho mucha más ayuda. Sino las personas en apuro de aquí no se irían para alla. Y ahora que tantos negocios se están yendo a quiebra, menos empleo habra. Es un hecho que además muchos empleadores se plantean trabajar desde casa en el futuro porque además ahorrarían dinero. Se sabe que eso mo incentiva la economía ni genera empleos prescisamente. Las personas en PR han recibido ayuda local y o federal y ganan más mientras reciban esa ayuda que trabajando y no quieren volver por $7.00 la hora porque es que no se puede vivir con tan poquísimo dinero! No se puede y menos con los aumentos que llegan de agua y luz que es continuarán a lo largo de un buen número de años. No es si habrá aumentos, es que si están llegando y continuarán por años porque hay que recaudar dinero para la propia infraestructura de esas empresas y porque hay que pagar contratos millonarios a empresas contratadas. Así es que todas esas ideas de venirse para aquí pueden a la larga resultar en un mal momento. No que no puedan venir, pero si no se es millonario o se cuenta con un fondito para sostenerse en lo que quizá se puede tirar para adelante, o se cuenta con un empleo bien remunerado *garantizado, es más mala idea que buena. PR siempre recibió a los que llegaban con los brazos abiertos. No nos creemos nada, estamos viviendo un tiempo muy difícil y es bueno que la gente vea lo que vemos y vivimos los demás para que tomen las mejores decisiones posibles. Es muy difícil comprar casa, pagar acceso controlado, mantenimiento, pagar por uno o dos carros porque la transportación publica es horrible porque nadie asegura que va a pasar el autobús y no hay trenes ni tranvías, hay un tren que da una vuelta por un area muy limitada en la capital y ya está. Aquí si no tienes carro no te mueves, básicamente. Hay que pagar por comida extra cara, colegios caros, agua y luz carísima impuestos / los impuestos locales existen y no perdonan. Pagar seguros de Salud privados ( otro boquete grande al bolsillo) , gasolina , *muchisimos extra si viene un huracán o una tormenta - El Paso del huracán Maria nos costó a mi hija y a mi $5,000 dólares entre gasolina y gastos forzosos y sin contar los daños sufridos, recogido de escombros que volaron, de ramas de árboles y todo eso. Comer fuera se hizo necesario porque no había nada de luz, nada, ni agua por mucho tiempo. El agua de beber se compraba. ( y todavía la compramos y compraremos) Y ya sabes que estás listas siguen porque se mejora poco y todo cuesta cada vez más. Ahora a ver cómo viajas, vas al cine, te pagas alguna alegria o cosas así. Y agradezcamos lo que tenemos la ventaja de tener la casa ya pagada. Que claro, nos costó mucho trabajo lograr las cosas pagando impuestos muy altos para que ahora que las cosas están difíciles no nos ayuden. Como decimos por aquí, “ te lo vendo al costo” lo que ves es lo que hay. No se diga que no fueron avisados. Los puertorriqueños somos los mismos desde que nos crearon y solemos ser gente buena y amigable. Lo que cambian son las circunstancias y no las imponemos nosotros prescisamente. Nosotros como los demás, las sufrimos.
@@yasminerivera9151 salieron porque les dio la gana
@@deepstate3358 que horrible estas un tu historia bahahahahaa
Lee algo de historia y luego opina😜😜
This is the first video that I’ve seen from this channel and I thoroughly enjoyed it.
This is so sad and unfortunate. This is what has been happening in Hawaii for the last 2 decades. Housing crisis where locals are forced to move off the island because median housing prices are 900k and no one other than rich guys from CA or Asia can afford...
Census: "More than half (52 percent) of the Native Hawaiian and Other Pacific Islander alone-or-in-combination population lived in just two states, Hawaii (356,000) and California (286,000). "
Yea it’s not ok respect the culture
its not worth losing your land rights and culture permanently over colonizers
As a Gringo raised in Nicaragua I've seen and heard the same grumbling's before. Nicaragua went from the 2nd most prosperous nation in Latin America to second in poverty in one year. July 19th 1979 to July 19th 1980. "El día del Trump de la revolución ". I repeat 2nd only to Haiti in one year, it was awful. My beautiful Nicaragua has never fully recovered. A Narco state. Don't be fooled my beautiful Boriqua brothers and sisters by the lying rhetoric. BENDICIONES Puerto Rico. We love you and don't want to loose you. You have brought and contributed so much to this country.
Yo soy Dominicano, todo comienza con el gobierno... nosotros tenemos que reclamar nuestra tierra. La tierra Taina es la tierra más bella del mundo y no las quieren terminar te quitar. Si RD/Haití, PR y Cuba estubieran acuerdo, sería una nación insuperable
Amén mi hermano hablastes por mil años
Muy cierto
Facts man as a Haitian and Cuban born and growing up in those countries for a few years, I despise what HT and CU presidents and governments has allowed and giving the U.S. permission to take advantage of its land and their citizens of the islands. Same for JM and DR governments for allowing the Chinese to come and start beginning to run and build their foundation on these lands too. And now currently finding PR governments are in the same position also, its really sad, because I don't ever want to see these islands become something that they are not naturally. Some people will accept and do anything for a dollar, even if it means screwing over their own native citizens of the islands.
I am from a small island in the US that has been taken over by wealthy people forcing out even the middle class just for they’re vacation homes or air bb’s . Driving cost of living sky high and making housing unattainable for most. This is happening all over the world. There is a lot borinquas could learn from a place like my home . Rejecting investors however is not the answer . Protecting your resources by creating zoning laws, stricter building codes , protecting your beaches and putting land into conservation are a few ways to mitigate the long term negative impacts . Positive things do come from people who bring money to your area . As populations grow land and people are constantly being exploited. We can only hope to steer the exploitation into a positive direction that will benefit all people. Better paying jobs , business opportunities, bringing more money to municipalities to improve infrastructure. These are positive things.
Not all the people moving there are rich so don't be biased. There's just as many rich Puertorican's living in million dollar homes there & not just gringos. If you're retired in the U.S. you get tax freezes on your property. When I turn 65 I get a tax freeze here in the U.S. so why would I want to move there?
This video should get more attention. I wish the media in Puerto Rico wasn’t as corrupt as it is so that we could get this to more people. Still it won’t happen cause ignorance is what keeps them in power
The government did this on purpose Puerto Rico needs foreign investment in order to increase the standard of living
Extremely sad for the brothers and sisters on the island. Scratching my head after the guy said, gentrification has to happen and he needs a place to live. And that made a lot of sense to him 😡. From a former New Yorker that has seen my family affected by gentrification. They can never go back
@Killer Miser Supporting the local community. When gentrifiers move somewhere, they have no interest in supporting the locals. They will support the expensive $5 coffee places and trendy restaurants instead of the locally owned. Also, using that money to invest in existing local businesses. The other issue is the quality of living will be focussed on where they live and not where the locals live - they need to join the fight for that also and raise awareness. Not just sit in their expensive homes and saying "oh well, nothing I can do about it, it's gonna happen anyway". That attitude is not helpful.
The solution is to make the tax breaks a little less good. Corporate to 6% and capital gains to 5% maybe. It probably won't be worth it for people making $500k a year to move there anymore. Would only get $1M or more earners and PR would collect some more taxes.
@@ciagretteskills Importing things to PR is expensive and they have to eat. I would assume organic farmers would do well and can easily undercut the prices at a Whole Foods.
So you get to live in one of the most expensive places in the country? Some poor white communities in the country you've never even passed though would LOVE some gentrification in their neighborhoods....
@@stevemasterson7776 you sound foolish but who am I to judge? We are on two different plateaus.
I stumbled on your video because I wanted to get more content from Puerto Ricans on RUclips. I'm very impressed and will keep following along. Thanks for doing all this research.
Continue shedding light on disparities and inequality in Puerto RICO .
The island needs more individuals like you.
So a billionaire moves to a place and the place “in no way” benefits from them being there? Seems like that guy’s overselling the point made here.
Yep. This was presented in a completely one-sided manner. This was a pretty slanted take on the whole thing.
The logic is baffling. A bunch of people with lots of money are now willing to spend money, buy services and invest in the Puerto Rican economy and the whole video is a lop-sided attempt to prove that this couldn't possibly contribute to the economy.
"Rrrreeee new people"
Agree w/all of u
This was a very one sided piece.
this video it's only emotion and no economic knowledge. the benefits of this people's money going there will incredibly boost puerto ricos economy by a lot. the biggest thing keeping puerto ricans poor is the jonnes act.
You clearly have never been in Puerto Rico and definitely you do not know our history and situation.
This is also happening to many other Caribbean islands, including the USVI. It's frustrating seeing natives or a certain group of people being oppressed and pushed out of their own island/countries to make a playground for others. I'm also seeing comments from people on the mainland blaming leftism (really?). No matter how you look at it, conservatives and liberals are all the same when it comes to gentrification, discrimination and entitlement against others, just on different ends of the spectrum.
Thank you for all your hard work you are doing to make ppl aware of the issues that still plague our ppl. My husband and I are moving back home next month and we are encouraging more of our ppl to move back as well. There is a religious group called IUIC Puerto Rico they have recently opened an organization on the island I would encourage you to contact them they may be able to help you in some way. Best of luck to you
dont move back tou will be highly disapponted
I thought I knew a lot about my homeland. But by watching your videos, I realized that I know nothing. Thank you so much for posting your videos. Keep posting and thank you.❤
Move back all the Puerto Ricans from New York and Chicago to Puerto Rico! Every body would be happier!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Wepa!
That's what I was saying, boricuans think they have the right to infest New York and Florida, well what goes around come around
How is he paying their taxes? The CRIM on a $30 MM home is $200,000 per year. That kind of person probably eats out all the time or hired a cook. They also pay 11% sales tax on anything they buy. Their company, if they can afford a $30 MM home, probably has revenues in the $40 MM+ range and pays patente of another $200,000 per year and $500,000 of income tax. So each of those gringos is paying $900k a year straight to the PR Treasury. That pays the UPR tuition for like 100 students. For 1 gringo. How much is Fernando paying, when he claims he is paying for their school (not true, they send kids to private school), roads (not true they pay for their own roads), etc..?
exactly, and hiring, tons of new jobs within act 20 companies that wouldn't be here otherwise.
@@01rju Yes, I didn’t even bring up jobs, no one can run a $40 MM revenue company without hiring people to work. Also, why do people think Act 20/22ers support la junta? They came here to escape the federal government, they don’t want PR to have fewer services or less reconstruction dollars.
They don’t want UPR to produce fewer engineers, if anything they want more engineers.
They like to eat local farm to table food, they buy organic local farm to table and support local farmers as much as they can (through PRoduce especially). etc etc...
I don’t care for them moving here as long as they don’t harm anyone.
But everyone needs to pay there fair share.
Lol
who's fair the takers or givers?
Or at least pay taxes like the rest
the shots between the mansions and locals was breathtaking. I see this so much in my country
It’s so sad that this is happening to Puerto Rico. They will price you out. We’ve seen it happen to Black and brown communities across the US. It’s happening in my city now. Historical neighborhoods are being destroyed, working class people are displaced through property tax, over priced real estate, increased cost of living, higher rent.
In the US all the cities being gentrified were built and owned by white people before brown people moved in and white people left. The US was a majority white nation until the last 50 years so it is completely different theN PR....
Take a history class then talk to me. 😂😂😂white people built it😂😂😂
@@glitterandglueforyou Actually you might want to take a history class and look up demographics from the last few hundred years.
Yes white people built all the cities in the US, Germans, French, Italians, Irish were the primary immigrants to the US. The whites numbered into the millions and the other races such as Africans were a small minority. LOL you can try to rewrite history but facts are facts....
Smallest 🎻.
@@tyruswarwick2508 Even the Violin created by whitey. The violin, viola, and cello were first made in the early 16th century, in Italy.
This is scary. I feel Puerto Rico is expensive already, imagine a few years from now people are not going to be able to afford to live on the island. You will have to have high salaries to be able to live comfortably
I'd imagine it might be like Tahiti. I went there for vacation and I realized most of the citizens work for the resorts and don't make as much and grow their own food and live in shacks in some cases while the rich white europeans live in these nice houses. It was insanely expensive there and without the natives you really wouldn't be able to visit it like we do today, but much of that gentrification was because of WWII.
There is nothing to be scared of! There are a lot of Puerto Ricans that have become wealthy from.....Wait for it...... HARD WORK! WOW what a concept! These hard working Puerto Ricans are spending their money on the island! The horse and buggy days are over, get on the today bus because I guarantee you wont grab a shovel and turn the earth over on the mountain sides! The younger kids are BAGO!!!! Stop playing victim, this is what has been truly hurting Puerto Ricans! And Chuck Schumer is the biggest lying snake pendejo living in his ivory tower trying to exploit the Puerto Rican vote, he needs to worry about his New York gringo landia yuppie's! Puerto Rico and its People will always live whether Rich or Poor!! DO NOT EVER PLAY VICTIM TO NO ONE!!!
That’s the idea make Puerto Rican leave the island.
@@lillianmendret1855 Well Puerto Rico does belong to the gringos after all. I mean you wanted US citizenship there you have it. 🥴
“Gentrification is unavoidable”
Gentrification can be avoided in most instances if people just lived sustainably and didn’t have to be so extravagant and over the top smh 🤦🏾♀️
Start businesses!
Out compete them!!
It’s better to have a gentrified area that is 925 one. I mean objectively look at all the gentrified ones and they have a much stronger economy and much less crime than previously before meanwhile ones that don’t well often collapse economically. I mean there are dozens of cities that were straight up abanded in the United States that don’t get talked about. Just look at all of the towns that have houses that sold for one dollar why do you think that is? Because they were completely founded because of the lack of economy. People moving to another place is A part of history and it’s usually for the positive just like with the amount of illegal immigrants that come into the United States they are by far a net positive. Despite what any Trump supporter will tell you they help the country way more than they harm it. I can understand why you hate people moving into your area that you don’t know it’s how tribal humans are we are xenophobic in nature because we fear things we don’t know.
Fuck your gentrification .. I guarantee at this moment that ain't gonna happened..
@@anthonyvigil7567 you sound like a white person. You’re completely lacking in self awareness
As a Puerto Rican and all I have to say is that its worrisome because now I dont even know how im gonna be able to survive because im not rich
Get rid of all those tax breaks act 20,act 22 and in the same trip get rid of
The Jones act. The same thing is happening with the island of Mallorca in Spain. Locals are being displaced by all the tourist buying real estate for dirt cheap.
I totally agree get rid of it.
Someday, those tourists will start feeling the pressure of us angry and tired puertorricans and will have to leave PR either by will or force. 🤐
Like how the South Africans ran out the White folks off they’re farm land lol?
PAC MON What an ignorant statement to make...tourists have nothing to do with this..subject..why arent you Angry at forner governors..who put the island in massive debt??or the protestors..from last year who left graffiti in old San juan
@@CarlosRodriguez-pt3hq Looking at it from the outside, it is just not one thing....The politicians are corrupt, but so are the people....As an example, the Labor participation rate in the island is around 40 percent.
@@studentofyahawashi9341 ✊🏽✊🏽✊🏽
@@josevega9149 I strike accord with that statement, the lobbyist and lawmakers have fat pockets from all the corruption all over.
I was born 🇵🇷 and I want to retired there but the home has increased drastically because of these rich ppl moving in smh
La realidad es lo contrario. El precio de las propiedades está por el piso...
This is pathetic. Millions of Boricuas are moving to the US, so why shouldn't a few Americans move to Puerto Rico???
Because Puerto Rico is Struggling and they think that Rich Americans moving there will make it worse
Wait, you have to live six year outside the island to qualify, that’s not ok. It should be for everyone including in the locals in island who want to start a business and benefit from the tax brake.
I agree with that.
@@rigom926 Should preface by saying that I respect Puerto Rican culture and understand the colonial nature of the island. However, I do have a question: Hypothetically, if Puerto Rico became a state would you be ok with English becoming mandatory in school?
Personally, I would very much be ok with it considering every other state does. But considering Puerto Rico is still a territory I think it’s fine that they still have their own cultural values (language, for instance).
@@rigom926 I can respect that 😂
Escriban cartas a la prensa, programas de tv y al gob, la misma carta a todos para que puedan hablar de lo mismo exactamente cuando vayan a comentar. El que no se queja, imposible que lo esuchen.
These guys has no respect for being in Puerto Rico, they need to create jobs there and infrastructure for housing and roads
Controla el problema de inmigración y de tirar basura en las calles los ríos y las playas y después hablamos
THANK you for creating this video. So much of this needed to be heard. The roads are a huge problem as well as so much more. 🥺
Fix your corrupt government first!
I’m moving to Puerto Rico in about 3 weeks! Can’t wait to enjoy this beautiful land!
Government makes the laws.
People move here
Blame the people? But not the government?
Interesting
Seriously...
This is true, I saw a house on Zillow for 6 million also in Dorado. Unbelievable that they will not make them pay taxes, meanwhile people who live there cannot afford food or normal living. Including my dad who is 82 and retired and still struggling after working over 30 years.
Well, they won’t pay any income taxes on their stock investments that is true, but the rest is false.
The newcomer buying a $6 MM home in Dorado will will pay approximately $300,000 a year in taxes to PR.
Specifically to PR: $75,000 per year to CRIM that goes to the local municipality, ~$30,000 per year in sales taxes, ~$30,000 for each luxury vehicle they bring in or buy each time, most of these people have Act 20 businesses which will pay about 0.2% of revenue each year to the municipality in patente, to afford to buy a $6 million home that is another $50,000 per year in patente to the municipio and $160,000 per year to the central government for the 4% tax. They also have to donate $10,000 per year to local charities and pay $5,000 for the privilege of filling out an annual survey.
I’m sorry to hear about your dad, but each of these people’s taxes could support quite a few Boricuas who need help.
@@genierico thanks that is what I thought. My only concern that real estate will go up like is happening in Costa Rica and only the rich can afford it. In addition that prices will go up, may result on an inflation.
@@lucycruz5933 The newcomers are not buying wooden houses with tin roofs they are buying boricua and american absentee owned properties in Dorado or new steel and concrete construction (which don’t build themselves mind you) but actually living in it and starting export services companies to export investment management, legal services, technology consulting, etc. There is a ton of housing available for locals because the total population is 3,000,000 and because of the poor economic situation and better situation in Florida and New York about 3,000-7,000 Puerto Ricans leave Puerto Rico each month for the last 15 years, while there are only 3,000 tax decree holders in total! So unless somehow these 3,000 people are buying 200 houses each, this is just sensationalist journalism. 🤔 Where there is a problem is certain developers, who don’t live on the island, don’t have a decree, are buying up very large beachfront lots. In the 1800s Queen Isabella and Queen Regent Maria Christina (the same one who surrendered PR to the US) gave royal land grants of Puerto Rican land to her supporters and supporters of the Spanish monarchy. Many of those landowners are now selling off that land to stateside developers and since it hasn’t really been used for 150 years, people living nearby and understandably shocked and angry, including Bianca Graulau. But her ire is misdirected. If she really wanted to do some good reporting she’d go through the registry and find out about the royal land grants and what is going down there, instead she is being a puppet of the powers that be and blaming either act 20ers who are mostly talented professionals like Orlando Bravo coming to PR to set up export businesses or Act 22 random crypto gr-gos who generally don’t own or want to own land (save for a couple crazy ones).
@@genierico my friend you wrote a dissertation 😂. Thanks for the information. I welcome everything that helps our people and the economy. Like I said I hope it won’t affect us.
Who do you think sold those houses the people and what your love for taxes... Do you like paying taxes ???? Prior to the 1930's no one in America paid INCOME TAX.. yet Schools, Universities, Bridges, Railroads, etc were built... and you want to penalize people for making money or having money... that sounds very socialist... Don't fall for this Karl Marx B.S.
I’ll be honest. I found this channel looking for information on PR because I want to save money on my taxes. However, I’m a philanthropist at heart. Would love to take a tour of PR and learn more about how much help I can provide to the locals. I’m Mexican BTW.
Lol
Great video! Thanks for making it 😊
Bianca - I just saw your video for the first time and I’m really impressed by your quality of video and depth on you journalism. You can be the next Jonny Harris, or more... stay on your path and thanks for your spotlight on such an important topic. Well done!
Why people are complaining about wealth people moving to PR. It a good sing that PR is heading to a higher standard of living. This investors are bring jobs and wealth to PR.
Jeez, it's the same here where I live in the US. High rent is pushing lower income out. It's kind of messed up they're taking advantage of Puerto Rico like that.
The colonization and slavery of our people is a big reason why we don't like people moving here ! Regardless of what help has been given , our heritage and homeland has been effected in many ways .
**WARNING** I'm extremely long winded.
Well act 20 and 22 are already gone. The only thing available is act 60 (unless you got act 20 or 22 approval prior to it getting eliminated). It's very similar, but just for clarification in case someone tries and research.
As far as the last statistic I've read, only a few thousand people have actually gone through the process and received approval. So the thought that they would magically pull an economy of 3 million + out of a recession is absurd. but just because they didn't pull it out of a recession doesn't mean they haven't contributed. As you mentioned the estimate is over 140 million dollars in spending, and since you also mentioned PR has one of if not the highest sales tax rates. at 10.5% that's over 14 million in revenue for the state.
Like you said these lawmakers are likely the ones selling the services, at highly inflated prices (10k plus) so that's new revenue for the puerto rican attorneys which they pay full income taxes on.. Not to mention the government also charges 10k in annual fees to file (on each 20 and 22) the returns from which you got the statistics. (side note, I doubt you would like your government giving your tax return to a reporter). Also, with act 22 (and 60) they are required to donate at least 10k annually to a puerto rican non profit.
Also, even if all of the 4,400 are from the act 20. 17,000 new jobs is not a bad thing. Also, all of the act 20 companies are required to pay themselves a "reasonable salary" which they pay normal puerto rican personal income taxes on.
In summary:
lots of sales tax
annual fees
local attorneys make more
donations to charities
4% corp tax on businesses that otherwise wouldn't be there
17,000+ new jobs
personal income tax at full rate
This is all new revenue that came from thin air. The only downside is people upset rich people are getting tax breaks. Also, i don't buy that a couple thousand people are having a huge impact on gentrification. dorado, vieques and rincon (as well as condado where a lot of them live in san juan) have all been gringo for decades. A small amount of new people wont make much of a difference when something like 200,000 left after maria, and there have been people leaving beforehand...
Also with these laws that were passed there were also laws to entice puerto rican doctors living on the island to stay, i believe another one as well as one for young puerto rican entrepreneurs (wasnt all for gringos).
Whether you felt it or not, it is a significant amount of money that entered the governments coffers.
Lastly, shouldn't you be most upset with Schumer who is playing keep away with money that people desperately need (because the funding that they are likely talking about withholding is food and housing, along with other essentials)... and he claims he's a friend of puerto rico, some friend......................
Second lastly lol, if Puerto Rico becomes a state, this is all irrelevant. That is why schumer pretends to be a friend after all, more senate and house votes... So if you really hate it there's a way out............... Except when the tax benefits will all disappear, and so will the gringos and jobs. Puerto Ricans will pay US's higher tax rates, plus the islands government has proven they aren't very adverse to spending so you can likely anticipate a state tax as well (and maybe city tax in San juan metro).. If you claim taxes is the only reason they're in PR, Florida will be cheaper with lower crime rates... Plus then minimum wage will spike up to 15/hr within the next few years if democrats get their way, so businesses will go belly up left and right. tourism will likely get hit big, DR is already slightly cheaper than PR, but 15 an hour will widen that gap significantly.
I liked the piece, just friendly disagreement as far as whether the policies were good/bad.
@@rory7248 Wanna do a zoom call on my channel?
This video is not just about the “amount of money that entered the government coffers,” Bianca Graulau mentioned the “official” self-reported overall figures. We can debate the benefits of this kind of supply-side economics (giving tax incentives to alleged investors with the idea that somehow the results will trickle down and create better economic conditions for others). Hint: The results are not favorable to its proponents. A recent December 2020 study of data spanning 50 years from 18 developed countries found that tax incentives for the rich does not have an effect on growth or unemployment. The evidence in the United States also shows that after tax reductions/incentives the gross national product declines.
But, this report is way more than money in the coffers. It’s also about fairness.
Some small clarifications;
- Act 60 didn’t declared Acts 20 and 22 as gone. It simply consolidated in one Code their dispositions (keeping their regulation while a new one was created), with a few amendments.
- Low income taxes don’t always mean low taxes as a whole. When you compare the Effective Total State & Local Tax Rates on Median U.S. Household for Florida and California the difference is just 0.73% (Florida 8.23% versus California 8.96%). So, Florida is not as cheap as some may believe.
@@TheNeverstopfilming While that may be true in places where the rich were already taxpayers in that jurisdiction. That is irrelevant in this situation. These are people that are new to the jurisdiction, so every tax dollar is one that wouldn't have been collected otherwise, and all the economic development is development that otherwise wouldn't have been seen. There was no trade off on the governments side of lower taxes for hopes of development. They got more taxes and more development.
I didn't say 60 declared them gone. I said 20 and 22 are gone. And 60 is all that's available. Idk where you got that from. Also no idea where you got that tax rate for Florida from.
Supply-side economics is not about if the capitalists receiving the incentives are local or foreign. The results on the trickle-down are the same. PR has a very long history trying and the results are evident. Good economics is about how healthy is the demand.
I got to live in Puerto Rico for a month last summer, aiding in teaching English in Bible school summer camps. I also got to visit culebra. Being immersed in the culture, the people I met, natural wonders I saw, I go back often in my mind. Hoping to have the chance to go back this summer. So Much love for Puerto Rico🤍
💔Todo esto ya lo tenían planeado desde hace muchísimos años.
Nuestra isla y nuestra gente siempre hán sido el ginea pig 😢
Es tan lamentable que es nuestra bella gente que tiene que pagar las consecuencias.
Thanks for your work!!👍👍
Keep 'em coming!!
Ginea pig ya te vacunastes 😆
Also the scummy politicians only care about the money instead of putting the citizens they represent first.
Estoy deacuerdo y le di un copy and paste a este comentario de mas abajo.
07bently.. Bottom line Any tax benefits or land prices or benefits of any type should benefit Puertoricans. This new popularity with Puerto Rico is hurting the island as well as its people, the US has always taken advantage of PR via the Jones act and in so many other ways, if trump would of had his way he would of sold away the island to the highest bidder. All island laws should only benefit Puertoricans and its lawmakers should see this to be! Without money influencing the decision making. Otherwise Puertoricans will be priced out of their own land.
@@vondiasufracara3524 🤔No sé cómo tomar tu comentario?!
Pero...Fíjate que NO! Ni lo pienso hacer!!!
BTW..Vivo en US pero mi corazón y familia están en la isla.
I was born in PR and raised in FL. My whole life I’ve wanted to move back but it’s never been a financially intelligent decision so I still live in the states. I visit the island almost every year since 2005. I see so much opportunity for growth economically, technologically and financially. If only the politicians cared for the island. I’m so sick of hearing this Puerto Rican pride garbage and Puerto Rican’s with money, power and influence do nothing. I don’t want to be an independent country but I do want more fair laws as a common wealth. I can go on forever sorry for making this so long but it’s honestly heartbreaking being so helpless to make positive change for my Island and people.
I love your videos, not just the information which is so detailed, but all of the shooting, all of the B roll everything is edited so well. I would hope to interview you at some point because I’m starting to make videos like this soon!
This wealth gap is found on every city I have ever visited, it's just more pronounced on an island because it's an effn island!
Yeah these people should go to Detroit
That, and they don’t get the same representation as a state would…