URGENT: JUST 7 DAYS REMAIN TO HELP SAVE INDEPENDENT MEDIA & ANR, SO LET'S CUT THE BS & GET TO THE POINT - WE WILL BE FORCED LAY OFF STAFF & REDUCE OPERATIONS UNLESS WE ARE FULLY FUNDED WITHIN THE NEXT 2 WEEKS - Sadly, less than 0.5% of readers currently donate or subscribe to us But YOU can easily change that. Imagine the impact we'd make if 3 in 10 readers supported us today. To start with we’d remove this annoying banner as we could fight for a full year...

Enter email to get Free News Emails

Why Millionaires Are Flocking to This Island

Facebook
Twitter
LinkedIn
Pinterest
WhatsApp
Telegram

For just $2 per week

AUSTRALIAN NATIONAL REVIEW NEWS SUBSCRIPTION

Join now and receive a free 12-month Subscription to
TruthMed worth $495 USD for free

Opinion pieces don’t necessarily reflect the position of our news site but of our Opinion writers.

[cs_con]

You are not authorized to access this content

Subscribe now for access articles

Why Millionaires Are Flocking to This Island

By CNBS News

When Facebook whistleblower Frances Haugen isn’t flying around the world urging politicians to regulate her ex-employer, she’s apparently living off little-taxed cryptocurrency profits in her new home of Puerto Rico.

“For the foreseeable future, I’m fine, because I did buy crypto at the right time,” Ms Haugen said in an interview with The New York Times, when asked how she’s supported herself since leaving Facebook.

Her move to Puerto Rico in March was motivated by a desire to join her “crypto friends” on the island, as well as a health condition, the former Facebook exec added.

Puerto Rico, an unincorporated US territory known for its beaches, rainforests and Spanish Colonial architecture, has become a hub for cryptocurrency investors like Ms Haugen in recent years, thanks largely to its status as a tax haven.

Under a law called Act 22, people who live in Puerto Rico for at least half of the year are exempt from taxes on interest, dividends and capital gains – meaning they can cash in on earnings from crypto and other investments without handing money over to the tax man.

In a bid to take advantage of the loose tax laws, top crypto firms including the hedge fund Pantera Capital and NFT marketplace SuperRare have ditched New York and Silicon Valley for Puerto Rico in recent years.

Other crypto investors, flush with cash amid the crypto boom, have used their little-taxed profits to buy up property in San Juan with a vision to build a new society called “Puertopia.”

YouTube star and crypto investor Logan Paul also moved to the country earlier this year and has been renting a mansion for about $US55,000 ($A73,000) per month – a move that Mr Paul admitted was primarily motivated by the country’s tax policies.

“In Puerto Rico you’re motivated to do more and make more money because of the implications that come with it,” Mr Paul told Time Magazine.

Logan Paul rents a house in Puerto Rico. Picture: Suzanne Cordeiro/AFP

 

The territory’s lax tax laws have also drawn interest from more traditional financiers – including legendary hedge fund manager John Paulson, who mulled moving to the island for tax reasons in 2013.

While supporters of Puerto Rico’s tax breaks argue that they bring much-needed investment to an island that lags behind the mainland US in economic development, critics have slammed outsiders for driving up housing prices in what they call a modern day form of colonialism.

For Ms Haugen’s part, she gave little detail on her crypto investments and friends in The New York Times interview – and it’s unclear if she will qualify this year for Puerto Rico’s tax exemptions under Act 22, which was passed in 2012 as “The Individual Investors Act”.

The law stipulates that investors like Ms Haugen must live in Puerto Rico for 183 days out of the year in order to qualify for the exemption.

They’re also encouraged to show other evidence of local residency by obtaining local bank accounts, driver’s licences and voter registrations.

Since Ms Haugen moved to Puerto Rico in March and has since flown to Washington D.C. and London to meet with politicians and testify about Facebook, she may not rack up enough days on the island to quality for the exemption.

Bill Burton, a former Obama administration press secretary who is helping Ms Haugen with media relations, did not immediately respond to calls seeking comment.

Opinion pieces don’t necessarily reflect the position of our news site but of our Opinion writers.

*Note We Deliberately Miss Spell Some Words or Add Capital Letters To Get Around Big Tech Censoring.

Support the ANR from as little as $8 – it only takes a minute. If you can, please consider supporting us with a regular amount each month. Thank you.

Facebook
Twitter
LinkedIn
Pinterest
WhatsApp
Telegram

Related News

AUSTRALIAN NATIONAL REVIEW NEWS SUBSCRIPTION

Join now and receive a free 12-month Subscription to
TruthMed worth $495 USD for free

Subscribe for free to our ANR news emails and access 2 free ebooks plus Reports to share with family and friends about Covid fraud and the danger of the vaccines.

Help us help defend free speech and save democracy from the World Economic Forum planned Totalitarian Great Reset.

and help us expose the Covid Fraudsters

Leave a Reply

Your email address will not be published. Required fields are marked *

We will expose the Covid Crimes of our Governments. Will you help us ?

Play Video

McIntyre Report
Political Talk Show

Episode 161

Episode 161

Get our free News Emails on latest articles, alerts and solutions for both legal templates and ways to help fight back against the Globalists vax Mandates , and health resources to boost your immune system and ways to Protect from deadly EMF 5G radiation and more.

FREE E-BOOKS AND REPORTS ALSO

Documentary: Died Suddenly (2022)

How you can advertise on Truthbook.social

Help us help defend free speech and save democracy from the World Economic Forum planned Totalitarian Great Reset.

and help us expose the Covid Fraudsters

Ukraine. Military Summary And Analysis 23.01.2023

Raw Report

Ryan Jackson Saw show

in USD

in AUD

in GBP

in CAD

Jamie McIntyre

ANR on

Currency Exchange Rates in AUD

Live and updated every minute of the day

Nurses Speak Out

ANR Meme Report

with Nadine Roberts

Episode 002

21st Century Political System

Play Video

Editor's Pick

Thank you for visiting the
Australian National Review

To continue accessing more articles for free simply enter your email address

Watch Full Documentary

URGENT: JUST 7 DAYS REMAIN TO HELP SAVE INDEPENDENT MEDIA & ANR, SO LET'S CUT THE BS & GET TO THE POINT - WE WILL BE FORCED LAY OFF STAFF & REDUCE OPERATIONS UNLESS WE ARE FULLY FUNDED WITHIN THE NEXT 2 WEEKS

Sadly, less than 0.5% of readers currently donate or subscribe to us But YOU can easily change that. Imagine the impact we'd make if 3 in 10 readers supported us today. To start with we’d remove this annoying banner as we could fight for a full year...

Get access to TruthMed- how to save your family and friends that have been vaxx with vaccine detox, & how the Unvaxxed can prevent spike protein infection from the jabbed.

Free with ANR Subscription from $8

Download the Full PDF - THE COVID-19 FRAUD & WAR ON HUMANITY