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One Response

  1. David P. says:

    This interview of noted investor Peter Schiff covers topics of taxation both in Puerto Rico and the mainland US. Notable points include how government taxation of its population affects the economy and drives migration from jurisdiction of high taxation to jurisdiction of lower taxation.

    The main take-away point is that people with means, those with enough money to change their situation, don’t stand for egregious amounts of taxation when they can easily pick up their lives and businesses and move them elsewhere.

    So, who then pays the price for high taxation policy? Initially the upper middle class business owner whose business may be growing but not able financially to just pick up and move. Also, those who are least able to afford it as both middle and lower income families are the ones that suffer when businesses fail or move, stores close, and jobs are eliminated.

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