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Old 03-06-2009, 09:43 PM
 
Location: NJ
2,111 posts, read 7,570,576 times
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During the 70's and 80's. Corporations took advantage of the tax incentives including Westinghouse of which I worked for. Other big companies like Merck and others also set up in PR. So even though PR is a possession, we lost these jobs here, and now they are at an unemployment rate of almost 14%.

The bottom line is we've been losing these jobs right along
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Old 03-06-2009, 09:57 PM
 
3,852 posts, read 12,202,592 times
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yup it is affecting everyone. Many companies set up offshore to take advantage of lower tax rates. There are many US billionaires who flee to other countries (such as Singapore) to take advantage of the lower tax rate.

This country thinks they can just keep taxing and taxing and taxing but that is not true. When the taxes are too high the big money moves offshore.
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