https://time.com/6242054/house-pass...ico-to-vote-on-its-statehood-or-independence/
I have a pretty strong opinion on this. The best thing Puerto Rico could do for themselves economically is to remain a territory. The best thing the mainland USA could do for themselves (at least within the foreseeable future) is to let Puerto Rico go free. Puerto Rico and the other territories have a unique status that allow them to have separate tax policies. They could theoretically bring their income taxes to 0 and attract tons of investment. In my opinion, it would be wise for Puerto Rico to go this route. Since the USA taxes income on a citizenship basis (one of the few countries that does this), the territories are the only place where Americans can live and avoid paying federal income taxes while retaining citizenship. While it won't necessarily create high paying jobs for Puerto Ricans right away it will create more jobs than what's currently there and lay the groundwork for high paying jobs for Puerto Ricans should they pursue the education in these fields. By setting up a strong financial sector economy, the infrastructure will improve, crime situation will get better, and it could then entice other industries to jump in.
The idea that Puerto Ricans are colonized second-class citizens, because they can't vote in Congress is quite frankly bullshit. They get plenty of aid without contributing to federal taxes. They have the reliability of the dollar which is one of the strongest currencies in the entire world. The reality about Puerto Rico is they don't have a ton of valuable natural resources like Alaska does with oil. The territory doesn't blend with the rest of the American economy, because they don't speak English. Their universities are subpar and the economy isn't diverse enough where you'd expect top schools to emerge. Arguably, the worst thing about the Puerto Rican status for Puerto Ricans is the brains/top human capital go to the mainland and if they become a state that won't change one bit. If you look at Hawaii, the economy is fueled by tourism. Puerto Rico has a much larger population than Hawaii, but will never, ever have tourism industry of HI. It's naturally no where near as beautiful, unique, or exotic. It won't attract many international travelers like Hawaii does from Asia. Right now on most cruises it's just a port stop for the day to check out a rum company. There are much more beautiful locations in the Caribbean. Combine this all with a corrupt territorial government that makes you wonder where all the money goes and no wonder the economy is far below that of Hawaii's. Statehood won't fix any of these problems.
I have a pretty strong opinion on this. The best thing Puerto Rico could do for themselves economically is to remain a territory. The best thing the mainland USA could do for themselves (at least within the foreseeable future) is to let Puerto Rico go free. Puerto Rico and the other territories have a unique status that allow them to have separate tax policies. They could theoretically bring their income taxes to 0 and attract tons of investment. In my opinion, it would be wise for Puerto Rico to go this route. Since the USA taxes income on a citizenship basis (one of the few countries that does this), the territories are the only place where Americans can live and avoid paying federal income taxes while retaining citizenship. While it won't necessarily create high paying jobs for Puerto Ricans right away it will create more jobs than what's currently there and lay the groundwork for high paying jobs for Puerto Ricans should they pursue the education in these fields. By setting up a strong financial sector economy, the infrastructure will improve, crime situation will get better, and it could then entice other industries to jump in.
The idea that Puerto Ricans are colonized second-class citizens, because they can't vote in Congress is quite frankly bullshit. They get plenty of aid without contributing to federal taxes. They have the reliability of the dollar which is one of the strongest currencies in the entire world. The reality about Puerto Rico is they don't have a ton of valuable natural resources like Alaska does with oil. The territory doesn't blend with the rest of the American economy, because they don't speak English. Their universities are subpar and the economy isn't diverse enough where you'd expect top schools to emerge. Arguably, the worst thing about the Puerto Rican status for Puerto Ricans is the brains/top human capital go to the mainland and if they become a state that won't change one bit. If you look at Hawaii, the economy is fueled by tourism. Puerto Rico has a much larger population than Hawaii, but will never, ever have tourism industry of HI. It's naturally no where near as beautiful, unique, or exotic. It won't attract many international travelers like Hawaii does from Asia. Right now on most cruises it's just a port stop for the day to check out a rum company. There are much more beautiful locations in the Caribbean. Combine this all with a corrupt territorial government that makes you wonder where all the money goes and no wonder the economy is far below that of Hawaii's. Statehood won't fix any of these problems.
