Posted on 08/13/2018 4:52:29 AM PDT by cll
If one bought a house in Washington, DC, 26 years ago for $200,000 it would probably be worth a million now. Of course, I don’t know if he did buy one here. Also, did his wife have a job. When I had an Adjusted Gross Income of around $50,000, I was paying off my mortgage at the rate of over $20,000 a year. OF course, I was not buying a lot of steak or new clothes or car.
If one bought a house in Washington, DC, 26 years ago for $200,000 it would probably be worth a million now. Of course, I don’t know if he did buy one here. Also, did his wife have a job. When I had an Adjusted Gross Income of around $50,000, I was paying off my mortgage at the rate of over $20,000 a year. OF course, I was not buying a lot of steak or new clothes or car. Below is an interesting paragraph from the articles continuation. I will try to translate it into English, but hope others will clarify anything I did incorrectly, and also comment on the political implications for the future.
La parte vendedora fue la empresa Sandmeyer Limited Partnership, de Nueva Jersey, pero esta entidad, a su vez, había adquirido la propiedad de dos niveles y 1,990 pies cuadrados en 1995 del conocido personaje en la industria de seguros, Andrés Guillemard Ginorio y su esposa, María Mercedes Noble Fernández. Guillemard es un exfuncionario de la Administración Romero Barceló cuyo hijo, del mismo nombre, se ha conocido como cabildero y director de campañas políticas, más recientemente del excomisionado residente Pedro Pierluisi.
Sandmeyer Limited Partnership of New Jersey was the selling party, but in it’s turn had acquired the 2 story, 1991 sq. ft. property in 1995 from a well known person in the insurance industry, Andres Guillemard Ginorio, and his wife, Maria Mercedes Noble Fernandez. Guillemard is a former official of the Romero Barcelo Administration, whose son of the same name, has been known as a cabildero (????) and director of political campaigns, most recently of the former Resident Commissioner, Pedro Pierluisi.
Resident Commissioner is the elected NON-VOTING representative for Puerto Rico in the US Congress in Washington, DC. Like the residents of DC, neither population’s representative in Congress can vote on how their tax money is spent. The position is second in power to the Governor of PR. PP lost his electoral run in the most recent governors election.
We may see many well heeled and informed tax avoiders move to Puerto Rico as the new acts 20/22 incentives make it a very attractive place to be. The US territories are the only places where the Federal government does not tax it’s citizens “worldwide income”.
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