Wal-Mart Sues Puerto Rico Over ‘Astonishing’ Tax Increases

Never been against Capitalism much, but this makes me damn glad I stopped spending my money at Wal Mart!

The Puerto Rico unit of Wal-Mart Stores Inc. sued the island’s government, seeking to overturn a new tax the retailer calls unfairly high.

Enacted in May, Puerto Rico’s Act 72-2015 increases to 6.5 percent from 2 percent the tax on goods imported from offshore affiliates to local companies with gross revenues of more than $2.75 billion.

The increase comes as the U.S. commonwealth struggles to restructure $70 billion in debt, more than every U.S. state but New York and California. This week, the U.S. Supreme Court agreed to consider reinstating a law that would let Puerto Rico’s debt-ridden public utilities restructure their obligations.

Wal-Mart Sues Puerto Rico Over ‘Astonishing’ Tax Increases

I mean how much do WE pay in taxes on purchases in the US? (not to exclude anyone not from the US but compared to taxes we pay?)

Anyhow! EFF YOU Walmart!

a reply to: seeker1963

Ah, I see.

It is only a tax on "them" and not other stores.

Makes sense. If it was across the board then they would just have to raise prices like everyone else to make up the difference.

a reply to: seeker1963

Well we can't have fiscal responsibility getting in the way of corporate greed errm I mean profits. Walmart is a frigging joke they'll just pass it on to the consumers anyway (with an improved profit margin) so what are they whinging about anyway.

Oh I figured it out! Lets sue the pants off an impoverished state because we can and it won 't hurt our bottom line and possibly even improve it and make our shareholders happy.

Scumbags

originally posted by: infolurker
a reply to: seeker1963

Ah, I see.

It is only a tax on "them" and not other stores.

Makes sense. If it was across the board then they would just have to raise prices like everyone else to make up the difference.

As I read it, it affected any store,

increases to 6.5 percent from 2 percent the tax on goods imported from offshore affiliates to local companies with gross revenues of more than $2.75 billion.

I highly doubt WM is the only multi national with their fangs in PR?

I really didn't understand your response, but analyzed it and responded as to how I took it?

PR knew the fiscal issue was coming and did nothing but ignore it.

originally posted by: Xcathdra
PR knew the fiscal issue was coming and did nothing but ignore it.

You mean like the US government is doing?

originally posted by: infolurker
a reply to: seeker1963

Ah, I see.

It is only a tax on "them" and not other stores.

Makes sense. If it was across the board then they would just have to raise prices like everyone else to make up the difference.

Exactly they can't pass along the taxes because other stores prices won't include the 4.5 percent tax increase. So therefore the state has made it impossible for large retailers to remain realize a store on average only makes about 10 percent profit on sales. This is why for e ample black Friday is so late in the year. I agree with wall mart here this isn't fair for a tax.

a reply to: seeker1963

I am going to tell you what is going on with my Island of PR that has been fallen into the corruption of over budget that now has the Island on bankruptcy.

Most of the manufacturing is gone, sounds familiar?, they depend on local taxes and tourism for sustain the economy, influx of immigrant using the free health care, sounds somewhat familiar, politicians paying themselves out at the expenses of the people, sounds familiar, they want the America tax payers money but PR pays no federal taxes.

Most of the able working class and local tax generators are moving to the US, even my brother and his wife are moving to Orlando where she is as we talk getting her business started.

What is going to be left in the Island is people on government assistance, elderly, the very poor, gangs and drug lords.

PR, wanted to spend money like the US government does, but they can not print money at will.

Now they want to gouge the only stores that offer employment to the people, shame on my Island of PR.

Good for PR. Walmart gets enough corporate welfare.

And if Walmart leaves there, no great loss. They will survive.

a reply to: seeker1963

Its a bit different. What does the US have to do with PR issues?

a reply to: Xcathdra

Actually nothing, but PR wants the US tax payers to pay for their corruption and over expending that has lasted for decades.

Without contributing anything to the US economy.

originally posted by: Xcathdra
a reply to: seeker1963

Its a bit different. What does the US have to do with PR issues?

Seriously?

Puerto Rico is a territory of the US.

The Island is gouging the working class, the sales tax went from 5.5 to 11.5, this year, the Island pay for SS and Medicare to the US, from the generated income of the workers that are majority employed by the government.

The Island has a very high poverty level.

originally posted by: ~Lucidity
Good for PR. Walmart gets enough corporate welfare.

And if Walmart leaves there, no great loss. They will survive.

Ok you hate Walmart I get that but one they offer employment in an area index prays need of it. But it won't only be Walmart it will be companies like starbucks, goodyear, walgreens, kmart, cosco, lowes, homedepot, McDonalds, apple stores and by now you should be getting the picture though I can keep going. These corporations being taxed they will leave the expenses of maintaining these stores is already high. And think what happens to the people there when 10s of thousands of jobs disapear.

Not surprised, this will be more common with the TPP. Change it, or learn to like it, I guess.

If you want to make a fundamental change that stops toilet bowl ride, stop shopping at Walmart and buy USA only.

a reply to: seeker1963

Its a commonwealth and again what does it have to do with us debt?

originally posted by: dragonridr

originally posted by: ~Lucidity
Good for PR. Walmart gets enough corporate welfare.

And if Walmart leaves there, no great loss. They will survive.

Ok you hate Walmart I get that but one they offer employment in an area index prays need of it. But it won't only be Walmart it will be companies like starbucks, goodyear, walgreens, kmart, cosco, lowes, homedepot, McDonalds, apple stores and by now you should be getting the picture though I can keep going. These corporations being taxed they will leave the expenses of maintaining these stores is already high. And think what happens to the people there when 10s of thousands of jobs disapear.

And I get that you're good with these companies paying little to no taxes because they create # jobs. If they went away the void would be filled again locally. The jobs won't go away. That's a myth.

a reply to: ~Lucidity

Then explain PR's unemployment from the failure of medical companies and them leaving PR.

a reply to: dragonridr

Specially when most of the able population is migrating also, and the immigration problems is growing mostly bringing their own economy problems, the free health care is very attractive to immigrants, When you visit the Island you can see the poverty everywhere, the beggars and public exposure of drug users is incredible, the government tries to keep the areas of tourist clean so they don't see all that garbage, the political corruption I can not even start on that one and the police is owned by the drug lords and gangs.

Back in the 50s, 60s and 70s, PR had most of the income coming from the many industrial manufactured that found the Island deferred taxes and incentive and we had mostly pharmaceuticals also we had petrochemicals, people were prosperous.

When the government started to tax them the manufactures left, slowly the Island started to fall into debt because while the manufacturing base was gone, the government kept spending like a run away train.

PR now depend on tourism, but is not enough to sustain the growing poverty and population.

originally posted by: Xcathdra
a reply to: seeker1963

Its a commonwealth and again what does it have to do with us debt?

What does it have to do with the US?

Look into it!

Just one to get you started.

What Does Puerto Rico’s Debt Crisis Mean for the US?

Nothing to see, move along right?