By David R. Martin
Puerto Rico needs new debt limit protections. The Bond Buyer (September 24, 2021). Without impregnable debt limits, it can happen again.
Eliminemos impuestos: Puerto Rico no tiene los recursos para fiscalizar, El Nuevo Dia (July 20, 2021). Hay maneras más eficientes y menos regresivas para captar más recaudos.
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Los verdaderos incentivos, El Vocero (March 30, 2021). En vez de los incentivos contributivos, concentremos en tener infraestructura de primera clase y en aprender inglés.
Covid19: Isolation should be a personal choice, Caribbean Business (May 17, 2020). Let individuals decide their …………………………………………………………………own risk tolerance.
Government Job Cuts Will Worsen Puerto Rico’s Economy, The Weekly Journal (November 13, 2019). The reduction of public workers largely explains the …………………………………………………………………island’s massive out migration.
So Oversight Board Sued You?, The Weekly Journal (May 22, 2019). Lawsuits against Puerto Rico government suppliers may do more harm than good.
In Memory: Armando Galindo, Jr.’84 Amherst Magazine (Spring 2019).
Pongamos a Cofina a la luz del sol. El Vocero (Jan. 16, 2019). Una decisión en su fondo sobre la validez de la deuda emitida por Cofina es necesaria para proteger al contribuyente puertorriqueño.
Puerto Rico is likely to keep this PROMESA. The Wall Street Journal (Aug. 15, 2017). A constitutional challenge to Puerto Rico’s oversight board must overcome the Territorial clause, the bane of the island’s political identity.
In effort to rejuvenate its economy, Puerto Rico plays the wrong game. The Hill (Aug. 7, 2017). Consumed by the process and procedure of debt restructuring, Puerto Rico takes its eye off the homerun pitches in economic revival.
Un plan antes que desaparezca la mitad de la economía. El Nuevo Dia (3 de marzo del 2017). Roosevelt Roads sigue siendo la oportunidad más importante para redirigir a nuestra economía hacia sus verdaderas ventajas competitivas.
Una breve historia de herramientas fiscales en desuso
El Vocero (13 de enero del 2017). Podemos cobrar más recaudos con más eficiencia y menos regresividad.
What Courage will Puerto Rico’s New Oversight Board Show ?
The Hill (Nov. 14, 2016). Sooner or later, the oversight board must decide whether to legally challenge major tranches of the island’s debt. It should.
Los refugios contributivos y la 936
El Vocero (Sept. 5, 2016). Hay que preguntar ¿qué hará Puerto Rico cuando ya no puede operar como refugio fiscal?
Insight for Puerto Rico’s Oversight Board
The Hill (Aug. 8, 2016). Austerity is the wrong medicine for an island with underfunded public services and controlled by moneyed interests that exempt themselves from taxes.
Puerto Rico’s Future Entertainment Economy – CreateSpace (Jan. 4, 2016). The island can revive its economy by becoming a world-famous destination for entertainment. The cornerstone of this effort requires the dramatic expansion of its visitor lodging and transportation capacity. Puerto Rico should construct a new city devoted to this task.
A test of true philanthropy – Financial Times (December 29, 2015). Real charity does not seek recognition. Continue reading.
Puerto Rico’s finances – The Economist (December 9, 2015, Letters – online edition). Over the last 60 years, the U.S. has steadily pulled back from Puerto Rico. The island should worry.
Puerto Rico’s “colonialism” pretext – The Hill (November 12, 2015). The status debate obscures the flawed local policies that create the island’s most vexing problems.
Puerto Rico must wake up from its tax haven dreams – The Hill (October 9, 2015). The OECD’s base erosion and profit shifting project is a frontal assault on tax havens of which Puerto Rico is a proud member.
Puerto Rico’s “Growth Plan” that Isn’t – PanAm Post (September 30, 2015). The U.S. island territory’s growth plan perpetuates ineffective economic development policies.
Cómo salvar a Puerto Rico de su autodestrucción – 80grados.net (11 de septiembre del 2015). Muchos han asumido de forma incorrecta que Puerto Rico sufre por tener un “gobierno grande” y gastos excesivos. El Gobierno es ineficiente e inefectivo, pero no es ni grande ni excesivamente caro.
The Back Story on Puerto Rico’s Debt Crisis – The Hill (September 4, 2015). How the U.S. island territory created a $72 billion catastrophe. Continue reading.
Commonwealth of Puerto Rico Got Itself into this Mess – The Wall Street Journal (August. 20, 2015). The island exempts vast tranches of its economy from taxation, collecting only about 10% of GDP each year. Continue reading.
Puerto Rican debt: politicians looked for ways around the law – Financial Times (August 6, 2015). The island’s bewildering debt structure was born of improper efforts to evade its constitutional debt limit and balanced budget mandate. Continue reading.
Understanding Puerto Rico’s Economic Problems – The New York Times (August. 5, 2015). The island’s low-tax model perpetuates poverty and underdevelopment. Continue reading.
How to Save Puerto Rico from Self-Destruction – PanAm Post (July 31, 2015). Tax exemptions for uncompetitive activities at the heart of island fiscal crisis and economic decline.
Government Employment is Not Puerto Rico’s Economic Problem – The Washington Post (July 12, 2015). The island has fewer government employees per capita than most states. Continue reading.
Profligate Puerto Rico’s Problems So Possible to Predict – The Wall Street Journal (July 9, 2015). Puerto Rico needs more (not less) government investment to make it economically competitive. Continue reading.
Nuestros talentos más poderosos – SinComillas.com (14 de junio del 2015). Puerto Rico debería invertir más en deportes profesionales que en actividades científicas. Continue reading.
Puerto Rico Bankruptcy Temptation – The Wall Street Journal (May 15, 2015). Creditors of the Puerto Rico Electric Power Authority should be wary of the untested receivership provisions in Prepa’s Organic Act. Continue reading.
Puerto Rico’s Reality Distortion Field – NewsIsMyBusiness.com (May 11, 2015). Misguided economic development policies worsen the Island’s fiscal crisis. Continue reading.
Jack Lew is Right on Company Tax – The Wall Street Journal (October 31, 2014). The notion that the duty to fund our nation should end at the water’s edge is profoundly at odds with the status of a country that seeks to project power and influence around the world. Continue reading.
Venezuela, Puerto Rico y la quiebra moral – SinComillas.com (7 de octubre del 2014). Cada dólar que se paga a bonistas es un dólar menos que se puede invertir en el pais. Continue reading.
Territorial tax system goes hand in hand with decline – Financial Times (September 26, 2014). If the U.S. wishes to retain its status as a world power, it should enhance its worldwide tax regime and reject proposals for a territorial tax system. Continue reading.
Parte II – ¿Es realmente demasiado grande nuestro gobierno? – SinComillas.com (22 de septiembre del 2014). Según el producto bruto doméstico, los impuestos y los gastos de Puerto Rico son más bajos que la mayoría de los estados de EE.UU.
¿Es realmente demasiado grande nuestro gobierno? – SinComillas.com (8 de septiembre del 2014). Como proporción de la poblacion, Puerto Rico tiene unos de los gobiernos más pequeños de la nación norteamericana.
Hedge Funds Can’t Hide the Real Picture in Puerto Rico – Financial Times (Aug. 25, 2014). Speculators in Puerto Rico bonds have better strategies to pursue than trying to stoke the island’s GNP. Continue reading.
No toda nuestra deuda es igual – SinComillas.com (6 de agosto del 2014) republished in El Vocero (7 de octubre del 2014). La deuda gubernamental de Puerto Rico se compone principalmente de deudas que no forman parte de nuestra deuda constitucional. Continue reading.
Lifting Life Support – Barron’s (July 21, 2014). The whole point of Puerto Rico’s revenue bonds is to protect general taxpayers from the debts of issuers whose service revenues from subscribers are supposed to be the sole source of repayment. Continue reading.
Nice Try, But A Federal Fix is Probably Necessary – News Is My Business.com (June 30, 2014). Puerto Rico’s Recovery will be unwieldy and unpredictable. Continue reading.
Pocas esperanzas en la economia del conocimiento, pero potencial mundial en el entretenimiento – Sin Comillas.com (23 de mayo del 2014). Nuestras credenciales en el entretenimiento son indiscutibles. Continue reading.
1961: A Fateful Year for Puerto Rico – News Is My Business.com (April 28, 2014). Puerto Rico’s constitutional debt limitation is a marvel of dodgy legalease. Continue reading.
El consenso equivocado – SinComillas.com (9 de marzo del 2014). Para los que siguen pretendiendo que Puerto Rico sea un baluarte de la alta tecnología, consideren este hecho fácilmente comprobable de los récords de la Oficina de Patentes y Marcas de EE.UU.: Los abogados y agentes en Puerto Rico registrados para proseguir solicitudes de patentes de inventos se pueden contar en menos de dos manos. Continue reading.
La deuda impagable e ilegal – El Vocero (11 de febrero del 2014)
La Constitución del Estado Libre Asociado requiere un presupuesto balanceado. Además, el servicio de la deuda (pagos de interés y principal) no puede exceder el 15% del promedio de los recaudos de los dos años fiscales más recientes. Continue reading
Alternativas a la reforma – El Nuevo Día (27 de diciembre del 2013). El objectivo final de la reforma de los sistemas de retiro del gobierno de Puerto Rico debe ser el de trasladar a los empleados al sistema de Seguro Social. Continue reading
El costo de empleos “comprometidos” – El Nuevo Día (1ero de diciembre del 2013). “Las exenciones contributivas son dañinas y no son necesarias para generar interés en Puerto Rico si nos dedicamos a las actividades apropiadas”. Continue reading
Trouble in Paradise – The Economist (Nov. 9, 2013) (Letters). Unrealistic aspirations for a knowledge economy deflect investment from such obviously competitive sectors as tourism and entertainment. Continue reading
Entertainment Not High-Tech Will Help Puerto Rico Thrive – Financial Times (Oct. 23, 2013) (Letters). “The Island has significant unexploited resources as an entertainment and sports venue.” Continue reading
Puerto Rico’s Glaring Signal to Change Course – News Is My Business (Oct. 15, 2013)(Op-Ed). “The fatal flaw of the island’s central economic plan is a longstanding and unrealistic aspiration to be a science and technology-based manufacturing powerhouse.” Continue reading
Summers’ Fiscal Mindset Makes Him Best Choice to Lead Fed – Financial Times (Aug. 13, 2013) (Letters). “Scott Sumner has it wrong in criticising Lawrence Summers’ candidacy for the top position at the Federal Reserve”. Continue reading
Nos cuesta demasiado cobrar impuestos sobre ingresos y ventas – Sin Comillas (9 de junio de 2013)
“Todavía a comienzos de junio del 2013, el Departamento de Hacienda no ha publicado los estados financieros del Estado Libre Asociado para el año fiscal (AF) terminado en junio 30 del 2012….” Continue reading.
Gran Centro Turístico en Roosevelt Roads – Sin Comillas (14 de abril de 2013)
“Puerto Rico ya no es competitivo en la manufactura. En diez años, los empleos de manufactura han bajado del 10% a sólo el 6% de todos los empleos en Puerto Rico. Continue reading.
Entrevista Radial de David R. Martin Foro Económico con Nilda Pérez WMBJ 1090 San Juan, Puerto Rico (8 de abril de 2013)
Los economistas y los primeros 100 días de García Padilla: “La política fiscal es contradictoria”Sin Comillas.com (2 de abril del 2013)
Por Luisa García Pelatti
David R. Martin (Toledo, OH, 1961) es abogado corporativo. Estudio en New York University – LLM impuestos. Trabaja como abogado administrador en D.R. Martin, LLC, en Atlanta, Georgia. Es autor de “Puerto Rico: El Manual de Rescate Económico” (2013). Continue reading.
Puerto Rico: The Economic Rescue Manual
January 3, 2013
A step-by-step guide to Puerto Rico’s economic renaissance.
Buffeted by globalization, Puerto Rico is no longer competitive in manufacturing. Generous tax exemptions have failed to stem huge job losses and have contributed to an alarming fiscal crisis.
While having better baseline attributes than Las Vegas, Macau and Dubai, Puerto Rico’s leisure and entertainment potential remains grossly underdeveloped. The overuse of isolated high-end, resort enclaves has inhibited the sector’s growth.
The centerpiece of The Economic Rescue Manual is the creation of a mega-entertainment city on the east coast of the Island. By adopting the specific initiatives and policies of The Manual, the Island will be poised for a new era spectacular growth.
(English print edition – Amazon – The Book Patch) (Versión en español impresa – Amazon – The Book Patch)
(English electronic version – Amazon – Barnes & Noble) (Versión en español electrónica – Amazon – Barnes & Noble)
The Way to Eliminate Confusion about Puerto Rico’s Status – The Washington Post (Nov. 26, 2012) (Letter to the Editor).
“The flawed, two-part referendum in Puerto Rico this month risks perpetuating the confusion that has vexed the debate on the island’s status for more than a century.” Continue reading.
Objection to Privatization of Luis Muñoz-Marín International Airport
Regulations.gov (posted Nov. 5, 2012). The primary purpose of the proposed 40-year lease of a profitable airport is to pay off government debt, not improve air transportation in Puerto Rico. Read full publication at Regulations.gov docket # 2009-1144-0179.
Macau, A World Gem: Will It Be Cut or Polished? – Macau Daily Times (July 26, 2012)
“Lately much of Macau’s headlines concern high-stakes corporate drama and showdowns involving multinational casino resort operators and gaming moguls.” Continue reading
Puerto Rico City – A Novel
Puerto Rico City, LLC (publisher) (March 14, 2012) – A fictionalized account of the creation of Puerto Rico City, a proposed new entertainment city and the cornerstone of Puerto Rico’s economic renaissance. www.puertoricocity.com
A Fairer System for Taxing U.S. Corporation Dividends – The Wall Street Journal (Dec. 7, 2011) (Letter to the Editor)
Regarding your editorial “America the Difficult (Nov. 28): None of the three jurisdictions that you commend for the flatter and lower business taxes—Hong Kong, Singapore and Ireland—is a world power.
As a matter of individual profit maximization, lower-tax jurisdictions may be attractive to businesses seeking to escape taxes back home. But how much protection do these tiny countries provide for companies faced with expropriation, breach of their contracts, criminal prosecutions of their executives and infringement of their intellectual property? How valuable is a Hong Kong patent? A Singaporean trademark? Or an Irish copyright? How influential are their diplomats or their military? Continue reading
2011 Latin American Arbitration Table
Reference guide for arbitration of disputes in Latin America. Continue reading
Restraint Towards China is a Sign of U.S.’s Weakness – Financial Times, (Jan. 18, 2011) (Letters). Continue reading
Canada’s Plusses and One Minus – The Wall Street Journal (Jan. 14, 2011) (Letter to the Editor). Continue reading
Politics Touches Any Method of Selecting Our Judges – The Wall Street Journal (Nov. 8, 2010) (Letter to the Editor) Continue reading
Puerto Rico City– The Leisure and Entertainment Capital of the World
Rosy – The Leisure and Entertainment Capital of the World By David Martin, Esq.
On May 15, 2008, the U.S. Navy rejected all bids made for approximately 2,900 acres of the former Roosevelt Roads U.S. naval base, according … Continue reading
Argentina Opens Doors to U.S. Investors
© 1995 International Financial Law Review (March 1995) (Euromoney Publications PLC) sub nom David R. Martínez On October 20, 1994, the US-Argentine bilateral investment treaty came into effect, offering …Continue reading
Andean Pact Decision 344: Industrial Secret Protection in Bolivia, Colombia, Ecuador, Peru and Venezuela
©1995 Published in Latin American Law & Business Report 30 (Vol. 3, No. 3, March 31, 1995) Industrial Secrets Protected for the First Time On January 1, 1994, Andean Pact legislation began protecting industrial secrets for the first time. Applying to Bolivia, Ecuador, Colombia, Peru, and Venezuela, Decision 344 replaced Decision 313, passed in 1992, which had …Continue reading
Costa Rica: At Termination, Independent Reps are Anything But
©1999 Published in Latin American Law & Business Report (Vol. 7, No. 5, May 1999). U.S. businesses and other foreign companies seeking to engage a sales representative or distributor or to license a trademark to a company in Costa Rica should proceed with caution. Costa Rica provides significant legal restrictions on the termination of sales …Continue reading
Guatemala: The Law of Agents, Distributors, and Representatives
©1999 Published in Latin American Law & Business Report (Vol. 7, No. 4, April 30, 1999). Effective March 11, 1998, Guatemala amended its Commercial Code provisions on agents, distributors, and representatives. Replacing Decree 78-71, Decree 8-98 revises Articles 280 to 291 of Chapter II, Title II, Book I of the Commercial Code. Continue reading
Puerto Rico: Arbitration
As part1 of the United States, Puerto Rico must observe the Convention on the Recognition and Enforcement of Foreign Arbitration Awards2 and the Inter-American Convention on Commercial Arbitration 3 in international commercial disputes where private parties have agreed to arbitration. Continue reading
