How Jake and Logan Take Advantage of Puerto Rico’s Unequal Tax Laws
200What's up? I'm OddMarcTV and in this video we are going to explore the negative effects of Act 20 and Act 22 (Also known as Act 60 today) and its consequences in the tropical paradise of Puerto Rico, and how influential figures like Logan and Jake Paul are taking advantage of this controversial tax law.
Logan and Jake Paul, notorious for their past controversies (which I covered quite extensively), have turned their attention to Puerto Rico's Act 60, drawn by its enticing 4% corporate tax rate for foreign businesses. But the allure of tax benefits hides a complex reality, and it's this hidden side of their story that we'll uncover in this video.
As we delve into the ramifications of Act 60, we'll reveal how this tax law has had a profound impact on the housing market in the region. The skyrocketing prices have made it increasingly unaffordable for native Puerto Ricans to remain in their homes.
But the story doesn't stop there. Wealthy United States citizens are utilizing these tax exemptions to acquire properties, evict long-standing residents, and convert thriving neighborhoods into Airbnb hubs, leaving local communities deeply affected.
Join me on this illuminating journey as we analyze the multifaceted consequences of Act 60, the Paul brothers' involvement, and the broader implications for the beautiful island of Puerto Rico. Discover the stark contrast between the allure of tax exemptions for rich dudes from America and the reality of paradise lost for so many Puerto Ricans.
0:00 - 2:02 Intro
2:03 - 5:42 A Quick Lesson on Act 20 and Act 22
5:43 - 8:57 The Rapid Contagion of AirBnBs
8:58 - 17:31 The Real Estate Nightmare of Act 22
17:32 - 2:01 Puerto Ricans Pay More
22:02 - 25:54 The Paul Brothers and The Cycle of Controversy
25:55 - 36:25 Name That Controversy!
36:26 - 47:16 A Tale of Two Different Puerto Ricos
47:17 - 50:56 What Do I Do?
50:57 - 53:02 Outro