Puerto Rico Act 20 / 22 Tax Incentive – Why So Little Interest?

Only 669 Act 20 / 22 Decrees Approved in 2015. I discuss my thoughts on why there are so few and my predictions on its future in light of Black Lives Matter, Social Justice Warriors, Bernie Sanders, Elizabeth Warren, Hillary Clinton, and Donald Trump.

Facebook Group for Act 20 / 22:
https://www.facebook.com/groups/1193474797381907/

My Act 20 / 22 Video Series:

Slideshow:
http://periodismoinvestigativo.com/files/2016/02/Presentacio%CC%81n-DDEC-20-22-.pdf

Moving to Puerto Rico for Act 20 / 22 Tax Incentive: Live Free or Die

I posted this cover photo in a Facebook group I started [Act 20 / 22 Puerto Rico Tax Incentive Forum (Moderated)] and posted this statement along with the image.

I’m debating whether or not I should put such a politically charged image for this group. Let there be no illusions that the PRIMARY reason for your move is to save on your income taxes. You will face challenges to live in Puerto Rico, including the vilification by many of your peers (and strangers) for participating in a “tax haven” and for not paying your “fair share” to society (AKA “social contract”).

If you cannot come to grips with freeing yourself from Government tyranny (which is the initiation of force to expropriate your wealth, AKA Taxes), then the cognitive dissonance of “avoiding your social responsibility” will ultimately cause you to fail in the transition (I know of at least one example).

In other words, unless you’ve been deprogrammed from the public education system and mass media to see taxes for what they are (the legal theft of your 100% rightfully earned gains through voluntary means), the cognitive dissonance and guilt you’ll feel will ultimately result in you giving up and moving back to the States.

If “Live Free or Die” makes you uncomfortable, then you will want to question your premises before you make the move for your own mental health. If you embrace “Live Free or Die,” then the extra freedom you gain from having less expropriation will result in increased mental health. I also imagine you’re getting as excited as I am with the anticipation of better ways you could utilize the tax savings than the Government could.

For resources to help you get deprogrammed, I recommend the following, extreme remedies:

https://mises.org/library/anatomy-state
http://tomwoods.com/
https://www.lewrockwell.com/
https://www.youtube.com/user/stefbot

American Airlines AAdvantage Citi Platinum Mastercard for Free Check on Baggage

American Airlines AAdvantage credit card with Citi gives you the first checked bag free ($25 value). Also, if you’re on the plane ride, they will try and hand you a brochure with a referral code on there. Use it to apply online and get 10,000 additional bonus miles, than the typical 30,000 they give you upon your first $1,000 purchase in the first 3 months.

I failed to include my referral code, so they just credited me a bonus 10,000 points. I missed out on the two free admiral passes, but I don’t think I would’ve really utilized those anyway.

Also, up to 4 others in your party will get their first checked on baggage for free.

I’m going to use the card to purchase airline tickets. But my regular purchases, since I get 2% cash back, I prefer that over miles.

Puerto Rico Act 22 Signed Decree Received Today!

Got my signed Act 22 Decree today.

Here’s a breakdown of dates:

February 12, 2016 – File Date
April 20, 2016 – Acceptance Letter Dated (received digital version May 16, 2016)
April 27, 2016 – Signed Decree Date (received May 16, 2016)
April 28, 2016 – Notification of Signed Decree requiring $5,000 Payment
April 29, 2016 – Priority shipped check
May 6, 2016 РCheck delivered to BDO (thanks M̩ndez Giovanni!)
May 16, 2016 – Signed Decree Received
May 16, 2016 – Mailed out Unconditional Acceptance and $50 Fee

2.5 months from application file date to acceptance. Considering 100% tax free for interest and dividends up to December 31, 2035, I’m satisfied!

And I still have my US Citizenship. This still feels “too good to be true.”

Act 20 still pending.

Once I finish 2016 tax returns, perhaps it’ll feel more real.

Click this sentence for a more detailed play by play from the beginning.

Act 22 Signed Decree

My Idiot Son Built a Real Estate Empire from Millions to Billions of Dollars in 30 Years

– Imagine one of your sons taking over your hotel empire / business.

– 40 years later and he’s in his late 60s. The empire your son built is worth billions from the millions you first built.

– You would be proud if you were still alive. Your grandchildren are all proud to be executives in the empire you started.

– Your son created tens of thousands of jobs, numerous high level and high paying management positions, paid millions in taxes, billions to vendors, charities, lived a lavish life style, owned hundreds of hotels, started hundreds of other businesses, succeeded at most, and learned from his mistakes.

– All of this while developing one of the most famous brands on Earth.

=====

Your son decides to run for political office and now will probably be President.

This is what they say about your son:

“I don’t like him because he’s an idiot. Just because someone is billionaire doesn’t mean they’re smart. It’s easier to become a richer man when you start from wealth already with all the advantages it brings. Wealth itself is not an indication of intelligence. Justin Bieber has millions of dollars to his name. Would you call him particularly intelligent?”

“He declared Chapter 11 bankruptcy four times during those years. He’s lost more money than he’s made. He’s had more consistent financial success being the star of a reality show than he’s had actually running a business.”

“If he’d just conservatively invested his money when he inherited it he’d be worth more than he is now.”

Afraid of President Trump? How About Presidents in General

Good points made on the perversion of the Presidency itself.

If you’re worried because a madman may wield the power of the President’s position, perhaps you should think about reshaping the position itself more than being worried what sort of madman you put in the position. If it’s not Trump, then it’s going to be some other madman.

There are some powers in the Presidency that NO ONE PERSON should have. Don’t hate the player. Hate the game. And if you go back far enough, it started with Presidents like Abraham Lincoln who crushed State’s Rights.

Unfortunately, the important questions are being sidelined by the “word police” and virtue signalers making nonsensical arguments based primarily on emotion. Okay. I get it. You don’t like the guy.

Can we focus on the bigger questions? Like why does the Presidency have so much power that letting in one madman like Trump or Hillary could possibly destroy the world?

It’s like Black Lives Matter and Social Justice Warriors getting pissed off at White people, business owners, police, and perceived Racism. To be most effective for change they should be focusing on tearing down the drug laws which are probably the single most contributing factor toward single-family black families, poverty, incarcerations, crime, and community destruction.

A crucial step in preventing a Trump (“literally Hitler”) Tyranny, is to decentralize power from the Federal Government back to the States. Education, Abortion, Marriage, Gun Control, Minimum Wage, etc. If you’re so concerned about Trump starting WWIII, then why are we allowing the Federal Government to have a standing military? Perhaps State militias which can be called upon to cooperate in times of joint national defense is more appropriate.

The Founding Fathers were correct in placing the enumerated powers via the Tenth Amendment. Unfortunately, the Progressives and Warmongers dismantled the controls for their causes of “social justice.”

Well, guess what happens when you create the monster that is the Federal Government? Guess what happens when you diminish State’s Rights? You eventually get an absolute madman in a place of unprecedented power.

The answer is not to replace the madman with a madman you prefer. The better answer is to slay the beast and prevent these madmen from having any power to do any meaningful damage.

Take the power back away from the Federal Government and give it back to the States.