Puerto Rico just enacted a 4% excise tax on goods made there and a number of US companies...

[Dappleganger]

are going nuts. Puerto Rico has become a haven for multiple big pharm companies who are looking to save $$ in manufacturing costs, but they've just been dealt a huge blow by the PR council this past weekend who tacked on a 4% excise tax on all their goods going back to the US. Dh's company he works for is in frantic talks w/the council and trying to get their tax "breaks" they feel they deserve. Like the rest of the world, PR is in dire financial need and they decided that they have an income problem and addressed in the best way possible--tax those who are making billions off their cheap labor.

In addition to this (nothing to do with the PR government) the FDA has been turning up the heat on not just J&J in PR but a number of other big pharma companies, specifically focusing on the PR manufacturing plants.

There are massive layoffs occurring at the PR plants across the board, and in Ireland as well (big pharma companies ran away to hide here, too). The pressure is on for those people they took advantage of all across the world.

[Brickbat]

1. Way to go, PR!

A manufacturing company from my area moved its operations down there. They do work for the U.S. Army and use PR as their "made in USA" tag. I'd love for them to either come back here, or leave PR and lose their contract, or at least pay a tax to help make PR a better place.

[Generic Other]

2. Fuck the corporate state and tax them to death

We will not be any worse off than we already are!

[MineralMan]

5. Oh, we could be much worse off than we are.

Much worse. You literally have no idea.

[Angry Dragon]

7. Mineral Man, I am curious in what way......

:hi:

[MineralMan]

8. Try starving for a while. Then you'll understand.

With a population as large as ours, only corporations can deliver the goods required. The bulk of our population lives in cities. Without food and other necessities being produced in huge quantities and shipped there, there would be no such goods.

We need to control the corporations, not eliminate them. We need to tax them for real, not eliminate them.

Reality requires some attention to understand.

[Angry Dragon]

9. I would not think a 4% excise tax is going to destroy

corporations .......... I am more concerned about the banks and wall street going about business as usual.
I agree that corporations need to reigned in with regulations with teeth.
How do we convince congress that is the way to go??
How do we convince congress to tax the money??

[MineralMan]

11. Well, the worst way to proceed is to let the Republicans

retain control of the House. So, the first step is to recover control of Congress. That's the stumbling block in all of this. We need to elect more progressive members of Congress, and get rid of as many Republicans as we can.

But, you see, you said that you wanted everything to collapse, and that things wouldn't be worse if that happened. That's what I was responding to. Now, you're saying something different. If you wish for a total economic collapse, you are wishing for a much worse place than we already have. That's not how to fix things, in my opinion.

There are realistic ways to regain control of the country. Then, there are completely unrealistic solutions. Unrealistic solutions won't solve real problems. So, why don't we work really, really hard to do what actually can work, instead of attacking the very people who can change things? I've never understood that failing strategy.

[Angry Dragon]

12. All I did was ask a question

I did not say I wanted everything to collapse ........ a post above me did

What I see is either a total collapse if things continue as they are. A second crash if the banks and wall street continue as they are.
Or congress is forced to reign in the guilty. Have severe regulations to protect this country and the people. The personality of this country has to change for it to survive.

[MineralMan]

13. It's not a binary situation. It's really not.

Few things are binary, and this most certainly is not.

[Angry Dragon]

14. I was going to answer that but this thread is going off topic

I will save it for later time

[Generic Other]

17. I can buy my food from local farmers

and I have been poor enough to have a sense of what food insecurity feels like.

I don't need to eat a Swanson tv dinner to know it's shit. I need only look at Tucker Carlson to know I'd rather starve than give his company a fucking penny.

Sorry mega corps who make the swill we eat are poisoning us. We do need to eliminate them. Small farms are way better than factory farms. So in this instance you are wrong, we will be better off nutritionally by getting rid of them.

McD's is putting bone, feathers and silly putty in mcnuggets for christ's sake.

[crickets]

3. And that is how it's done. -nt

[disillusioned73]

4. Good on Puerto Rico..

a side note to remember... this isn't done only IN Puerto Rico. It's done across the country to small self segregated communities where they(people like my parents) end up after relocating to the US mainland looking for opportunities and end up in a low wage dead end cocoon.. it's sad.

[xchrom]

6. Recommend

[robcon]

10. Cutting off their noses to spite their faces.

Tax breaks are one of the most important reasons why companies locate their production fascilities in Puerto rico.

Is there a plan to offset the employment losses?

[upi402]

16. Kool Aid tastes very sweet huh?

Seems like you've bit on that one!

oopsie, was that out loud?

[Generic Other]

18. full of hugh fructose corn syrup and chemicals

good stuff. Makes you forget you are eating krap daily.

[Wounded Bear]

15. Woohoo! Maybe my job is coming back!

No BS. My job was outsourced to PR back in 2003. I even trained my replacement, who the company flew in to CA for the purpose.

Yes, we-like PR-do have a revenue problem, and it lies at the feet of big business/finance.

[Vidar]

19. Bravo, Puerto Rico!