CNE – Centro Para Una Nueva Economía – Center for a New Economy
Non-profit, economic research and policy development organization
Puerto Rico currently has a tax system that no one consciously would have built from the ground up. It is unduly burdensome to administer and enforce; it is inequitable, along both horizontal and vertical dimensions; it oftentimes encourages the inefficient allocation of resources and it inflicts enormous damage to our competitiveness.
Improved incentives for private charitable donations would strengthen nonprofit organizations that provide a variety of public benefits in Puerto Rico. This study investigates options for stimulating additional charitable giving with enhanced tax incentives.
This year was a tough and difficult one for the Puerto Rican economy. In part due to the Great Recession and the financial crises that have adversely affected economic activity around the world since 2007.
A casi cuatro años de haber participado de los trabajos del Informe CNE/Brookings sobre la economía de Puerto Rico, el Dr. Barry Bosworth, Senior Fellow del Instituto Brookings, encuentra que la situación económica de Puerto Rico se ha deteriorado marcadamente. En parte, este deterioro se debe al impacto de la profunda crisis económica y financiera a nivel global.
Una de las preguntas que más a menudo me hacen es cuál debería ser la estrategia para hacer crecer la economía de Puerto Rico. Típicamente lo que buscan es la ansiada bala plateada con la cual matar al vampire de la recesión.
On May 28th, 2008 then governor Aníbal Acevedo Vilá signed Puerto Rico’s new tax incentives law, which we described as the time as another attempt in the long line of mostly futile efforts undertaken since 1976 to resuscitate Puerto Rico’s flawed economic development model based on tax breaks.
So said Aristotle, warning his students against making bold predictions based on scant evidence. It is in this light that we should interpret the most recent change in the Government Development Bank’s Economic Activity Index, which showed a slight increase in its absolute value from 134.27 in August to 135.32 in September, which is equivalent to a month over month increase of 0.78%.
The global economy is apparently beginning to recover from the most severe financial crisis since the Great Depression and the deepest recession since the end of World War II. In general terms this is good news, but hold the champagne, we are not out of the woods yet.
