Anibal Acevedo Vilá is trying to eliminate the “IVU”. Anibal states that she knows that there are many strong and powerful people, who support the “IVU”. She says that they are so powerful that they were able to influence the Legislation to instate the “IVU”, but she feels that it has hurt the economy instead of help it and she will not back down until the “IVU” has been eliminated. Aceveda Vilá proposes to reduce the “IVU” to 2.5% and go back to the contribution system of “arbitrio general” of 6.6%. The problem in this case seems to be the people of PuertoRico want the “IVU” to be reduced or eliminiated. PuertoRico’s economy is already not in good standing and now has to pay more money for items. The government thinks that having this new “IVU” will help the economy make more money, but in fact it is causing for the public to have to struggle more than they already have to.
A solution to this problem could be, if the government really insists on having a “IVU” that they could only tax certain items instead of everything. In the USA, they do not have taxes on clothing or sneakers under the price of $110. Or maybe the government could not have taxes on food because food is already fairly high and is increases because the products are imported. It costs money to ship these items over and with things like milk, rice, and egg prices raising it is hard for the community to survive.
In conclusion, I have learned from this case how the public feels that the “IVU” should be rid of and the struggle they are having with this increase in prices. People are fighting for the betterment of PuertoRico and it’s public.
Complaint of fraud against R&G Financial
SEC accused R&G Financial Corp of financial fraud of inflating their books of $180 million. SEC had also previously accused Doral Financial Corp and First Bancorp, but did not fine them. The SEC states that R&G allowed their accountants to present a course of twele quarters with incomes at a record level. In...