Puerto Rico managed to pay off the $1.9B in debt they owed today: report - Polidicks

[url]http://www.cnbc.com/id/102789589[/url] [quote=CNBC]Debt-riddled Puerto Rico paid all of its $1.9 billion in obligations due on Wednesday, sources told CNBC. With the payments, the island, for the moment, avoids sinking further into financial crisis. Puerto Rico Gov. Alejandro Garcia Padilla recently called its roughly $73 billion in debt "not payable," fueling concerns among investors and bond insurers. The National Public Finance Guarantee Corporation separately confirmed Wednesday that Puerto Rico's power utility PREPA and other institutions related to the island made their debt service payments.[/quote]

aren't they also closer to becoming a state of the US of A?

[QUOTE=Ithon;48097363]aren't they also closer to becoming a state of the US of A?[/QUOTE] They're as close as they've ever been which is still far away. At best, it will take years for them to become a state.

I thought they already voted against statehood

[QUOTE=Cuon Alpinus;48097671]I thought they already voted against statehood[/QUOTE] They voted for statehood in the latest plebiscite.

[QUOTE=PolarEventide;48097700]They voted for statehood in the latest plebiscite.[/QUOTE] not that simple since a lot of the votes were blank when asked the question about whether you wanted statehood or independence.

[QUOTE=Cuon Alpinus;48097671]I thought they already voted against statehood[/QUOTE] they'll be the no star state

How about a loan then?

In the meanwhile, today we just got a tax increase (from 7% to 11.5%) opposed to the supposed VAT (16%?) that was meant to happen but never did. On top of that, there's speculations that the tax will again inflate in the next 9 months. This island isn't meant to be in living conditions anymore, not even for tourism purposes with the heavy drought this island is suffering. I wondered where did the 1.9b came from though, since our lovely governor [b]whined[/b] how it wasn't gonna be met on time.

[QUOTE=ptown2;48101161]In the meanwhile, today we just got a tax increase (from 7% to 11.5%) opposed to the supposed VAT (16%?) that was meant to happen but never did. On top of that, there's speculations that the tax will again inflate in the next 9 months. This island isn't meant to be in living conditions anymore, not even for tourism purposes with the heavy drought this island is suffering. I wondered where did the 1.9b came from though, since our lovely governor [b]whined[/b] how it wasn't gonna be met on time.[/QUOTE] Our was 22% before 2008, now it's 25%. Hungary has 27% I think. So, there is plenty of space to get worse.

[QUOTE=ptown2;48101161]In the meanwhile, today we just got a tax increase (from 7% to 11.5%) opposed to the supposed VAT (16%?) that was meant to happen but never did. On top of that, there's speculations that the tax will again inflate in the next 9 months. This island isn't meant to be in living conditions anymore, not even for tourism purposes with the heavy drought this island is suffering. I wondered where did the 1.9b came from though, since our lovely governor [b]whined[/b] how it wasn't gonna be met on time.[/QUOTE] You mean sales tax, right? Because only 7%/11.5% actual tax is completely laughable. Actually, that's also a REALLY low sales tax.

[QUOTE=Hyperbole;48101597]You mean sales tax, right? Because only 7%/11.5% actual tax is completely laughable. Actually, that's also a REALLY low sales tax.[/QUOTE] ??? Florida's sales tax is only 7%. Most state's average sales tax is under 10%

Sales tax here in my state is 5% with an additional 1% now and then when it's voted in to complete a public works project that uses it. We also have no tax on grocery food stuffs.

I thought at first that they'd paid off [B]all[/B] of their debt, but it seems like they just managed to make one of the payments?

[QUOTE=ptown2;48101161]In the meanwhile, today we just got a tax increase (from 7% to 11.5%) opposed to the supposed VAT (16%?) that was meant to happen but never did. On top of that, there's speculations that the tax will again inflate in the next 9 months. This island isn't meant to be in living conditions anymore, not even for tourism purposes with the heavy drought this island is suffering. I wondered where did the 1.9b came from though, since our lovely governor [b]whined[/b] how it wasn't gonna be met on time.[/QUOTE] I find it hard to sympathize with what you may consider high taxes when most Puerto Ricans are not obligated to pay federal income taxes (despite being eligible for federal benefits).

[QUOTE=PolarEventide;48109188]I find it hard to sympathize with what you may consider high taxes when most Puerto Ricans are not obligated to pay federal income taxes (despite being eligible for federal benefits).[/QUOTE] It's not as if they pay their taxes anyway. Puerto Rico is full of tax evasion.

[QUOTE=gbtygfvyg;48108764]??? Florida's sales tax is only 7%. Most state's average sales tax is under 10%[/QUOTE] Here in Canada I'm pretty sure it runs about 15%

[QUOTE=gbtygfvyg;48108764]??? Florida's sales tax is only 7%. Most state's average sales tax is under 10%[/QUOTE] Sales tax in the netherlands is 21%

And we in the UK complain about 20% :<

[QUOTE=PolarEventide;48109188]I find it hard to sympathize with what you may consider high taxes when most Puerto Ricans are not obligated to pay federal income taxes (despite being eligible for federal benefits).[/QUOTE] That is a myth, many Puerto Ricans pay federal taxes. It depends on your job, also all Puerto Ricans pay for SS and Medicare. All imports in Puerto Rico pay federal taxes. But Puerto Rico is a tax haven for rich people. Here is more info [video=youtube;7KTSDxf-Z2Q]http://www.youtube.com/watch?v=7KTSDxf-Z2Q[/video]

It's 25% in Denmark.

[QUOTE=Hyperbole;48101597]You mean sales tax, right? Because only 7%/11.5% actual tax is completely laughable. Actually, that's also a REALLY low sales tax.[/QUOTE] 10% sales tax here in Australia

[QUOTE=gbtygfvyg;48108764]??? Florida's sales tax is only 7%. Most state's average sales tax is under 10%[/QUOTE] We have 21% and I don't find that particularly high.

[QUOTE=Hyperbole;48120218]We have 21% and I don't find that particularly high.[/QUOTE] Well, I do find it particularly high but it gives us a -lot- of benefits