Publications

By David R. Martin ___________________________________________________________

El Dia Logo Un plan antes que desaparezca la mitad de la economía. El Nuevo Dia (3 de marzo del 2017). Roosevelt Roads sigue siendo la oportunidad más importante para redirigir a nuestra economía hacias sus verdaderas ventajas competitivas.

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Una breve historia de herramientas fiscales en desuso

El Vocero (13 de enero del 2017). Podemos cobrar más recaudos con más eficiencia y menos regresividad.

The Hill logo

What Courage will Puerto Rico’s New Oversight Board Show ?

The Hill (Nov. 14, 2016).  Sooner or later, the oversight board must decide whether to legally challenge major tranches of the island’s debt. It should.

 

elvocero imageLos refugios contributivos y la 936 

El Vocero (Sept. 5, 2016). Hay que preguntar ¿qué hará Puerto Rico cuando ya no puede operar como refugio fiscal?

The Hill logoInsight for Puerto Rico’s Oversight Board

The Hill (Aug. 8, 2016).  Austerity is the wrong medicine for an island with underfunded public services and controlled by moneyed interests that exempt themselves from taxes.

 

Cover shrunkPuerto Rico’s Future Entertainment EconomyCreateSpace (Jan. 4, 2016). The island can revive its economy by becoming a world-famous destination for entertainment. The cornerstone of this effort requires the dramatic expansion of its visitor lodging and transportation capacity. Puerto Rico should construct a new city devoted to this task.

 

FT logoA test of true philanthropyFinancial Times (December 29, 2015). Real charity does not seek   recognition. Continue reading.

The Economist logoPuerto Rico’s financesThe Economist (December 9, 2015, Letters – online edition). Over the last 60 years, the U.S. has steadily pulled back from Puerto Rico. The island should worry.

The Hill logoPuerto Rico’s “colonialism” pretextThe Hill (November 12, 2015). The status debate obscures the flawed local policies that create the island’s most vexing problems.

The Hill logoPuerto Rico must wake up from its tax haven dreamsThe Hill (October 9, 2015). The OECD’s base erosion and profit shifting project is a frontal assault on tax havens of which Puerto Rico is a proud member.

PanAm Post logoPuerto Rico’s “Growth Plan” that Isn’tPanAm Post (September 30, 2015). The U.S. island territory’s growth plan perpetuates ineffective economic development policies.

80grados logoCómo salvar a Puerto Rico de su autodestrucción – 80grados.net (11 de septiembre del 2015).  Muchos han asumido de forma incorrecta que Puerto Rico sufre por tener un “gobierno grande” y gastos excesivos. El Gobierno es ineficiente e inefectivo, pero no es ni grande ni excesivamente caro.

The Hill logoThe Back Story on Puerto Rico’s Debt CrisisThe Hill (September 4, 2015).  How the U.S. island territory created a $72 billion catastrophe. Continue reading.

WSJ logoCommonwealth of Puerto Rico Got Itself into this MessThe Wall Street Journal (August. 20, 2015).  The island exempts vast tranches of its economy from taxation, collecting only about 10% of GDP each year. Continue reading.

FT logoPuerto Rican debt: politicians looked for ways around the lawFinancial Times (August 6, 2015). The island’s bewildering debt structure was born of improper efforts to evade its constitutional debt limit and balanced budget mandate. Continue reading.

NYT logoUnderstanding Puerto Rico’s Economic ProblemsThe New York Times (August. 5, 2015). The island’s low-tax model perpetuates poverty and underdevelopment. Continue reading.

PanAm Post logoHow to Save Puerto Rico from Self-DestructionPanAm Post (July 31, 2015). Tax exemptions for uncompetitive activities at the heart of island fiscal crisis and economic decline.

Wash Post logoGovernment Employment is Not Puerto Rico’s Economic ProblemThe Washington Post (July 12, 2015). The island has fewer government employees per capita than most states. Continue reading.

WSJ logoProfligate Puerto Rico’s Problems So Possible to PredictThe Wall Street Journal (July 9, 2015). Puerto Rico needs more (not less) government investment to make it economically competitive. Continue reading.

SinComillas logoNuestros talentos más poderososSinComillas.com (14 de junio del 2015). Puerto Rico debería invertir más en deportes profesionales que en actividades científicas. Continue reading.

WSJ logoPuerto Rico Bankruptcy TemptationThe Wall Street Journal (May 15, 2015). Creditors of the Puerto Rico Electric Power Authority should be wary of the untested receivership provisions in Prepa’s Organic Act. Continue reading.

NewsIsMyBiz logoPuerto Rico’s Reality Distortion FieldNewsIsMyBusiness.com (May 11, 2015). Misguided economic development policies worsen the Island’s fiscal crisis.  Continue reading.

WSJ logo Jack Lew is Right on Company TaxThe Wall Street Journal (October 31, 2014). The notion that the duty to fund our nation should end at the water’s edge is profoundly at odds with the status of a country that seeks to project power and influence around the world.  Continue reading.

SinComillas logoVenezuela, Puerto Rico y la quiebra moralSinComillas.com (7 de octubre del 2014). Cada dólar que se paga a bonistas es un dólar menos que se puede invertir en el pais. Continue reading.

FT logoTerritorial tax system goes hand in hand with declineFinancial Times (September 26, 2014). If the U.S. wishes to retain its status as a world power, it should enhance its worldwide tax regime and reject proposals for a territorial tax system. Continue reading.

SinComillas logoParte II – ¿Es realmente demasiado grande nuestro gobierno? – SinComillas.com (22 de septiembre del 2014). Según el producto bruto doméstico, los impuestos y los gastos de Puerto Rico son  más bajos que la mayoría de los estados de EE.UU.

SinComillas logo¿Es realmente demasiado grande nuestro gobierno?SinComillas.com (8 de septiembre del 2014). Como proporción de la poblacion, Puerto Rico tiene unos de los gobiernos más pequeños de la nación norteamericana.

FT logoHedge Funds Can’t Hide the Real Picture in Puerto RicoFinancial Times (Aug. 25, 2014).  Speculators in Puerto Rico bonds have better strategies to pursue than trying to stoke the island’s GNP.  Continue reading.

SinComillas logoNo toda nuestra deuda es igualSinComillas.com (6 de agosto del 2014) republished in El Vocero (7 de octubre del 2014). La deuda gubernamental de Puerto Rico se compone principalmente de deudas que no forman parte de nuestra deuda constitucional.  Continue reading.

 Barrons logoLifting Life SupportBarron’s (July 21, 2014). The whole point of Puerto Rico’s revenue bonds is to protect general taxpayers from the debts of issuers whose service revenues from subscribers are supposed to be the sole source of repayment.  Continue reading.

NewsIsMyBiz logoNice Try, But A Federal Fix is Probably NecessaryNews Is My Business.com (June 30, 2014). Puerto Rico’s Recovery will be unwieldy and unpredictable. Continue reading.

SinComillas logoPocas esperanzas en la economia del conocimiento, pero potencial mundial en el entretenimientoSin Comillas.com (23 de mayo del 2014). Nuestras credenciales en el entretenimiento son indiscutibles. Continue reading.

NewsIsMyBiz logo1961: A Fateful Year for Puerto RicoNews Is My Business.com (April 28, 2014). Puerto Rico’s constitutional debt limitation is a marvel of dodgy legalease. Continue reading. 

SinComillas logoEl consenso equivocadoSinComillas.com (9 de marzo del 2014). Para los que siguen pretendiendo que Puerto Rico sea un baluarte de la alta tecnología, consideren este hecho fácilmente comprobable de los récords de la Oficina de Patentes y Marcas de EE.UU.: Los abogados y agentes en Puerto Rico registrados para proseguir solicitudes de patentes de inventos se pueden contar en menos de dos manos.  Continue reading.

La deuda impagable e ilegalEl Vocero (11 de febrero del 2014)

La Constitución del Estado Libre Asociado requiere un presupuesto balanceado. Además, el servicio de la deuda (pagos de interés y principal) no puede exceder el 15% del promedio de los recaudos de los dos años fiscales más recientes.  Continue reading

El Dia LogoAlternativas a la reformaEl Nuevo Día (27 de diciembre del 2013). El objectivo final de la reforma de los sistemas de retiro del gobierno de Puerto Rico debe ser el de trasladar a los empleados al sistema de Seguro Social.  Continue reading

El Dia LogoEl costo de empleos “comprometidos”El Nuevo Día (1ero de diciembre del 2013).  “Las exenciones contributivas son dañinas y no son necesarias para generar interés en Puerto Rico si nos dedicamos a las actividades apropiadas”.  Continue reading

The Economist logoTrouble in ParadiseThe Economist (Nov. 9, 2013) (Letters). “Unrealistic aspirations for a knowledge economy deflect investment from such obviously competitive sectors as tourism and entertainment.” Continue reading

FT logoEntertainment Not High-Tech Will Help Puerto Rico ThriveFinancial Times (Oct. 23, 2013) (Letters). “The Island has significant unexploited resources as an entertainment and sports venue.” Continue reading

NewsIsMyBiz logoPuerto Rico’s Glaring Signal to Change Course – News Is My Business (Oct. 15, 2013)(Op-Ed). “The fatal flaw of the island’s central economic plan is a longstanding and unrealistic aspiration to be a science and technology-based manufacturing powerhouse.” Continue reading

FT logoSummers’ Fiscal Mindset Makes Him Best Choice to Lead Fed Financial Times (Aug. 13, 2013) (Letters). “Scott Sumner has it wrong in criticising Lawrence Summers’ candidacy for the top position at the Federal Reserve”.  Continue reading

Nos cuesta demasiado cobrar impuestos sobre ingresos y ventas Sin Comillas (9 de junio de 2013)

“Todavía a comienzos de junio del 2013, el Departamento de Hacienda no ha publicado los estados financieros del Estado Libre Asociado para el año fiscal (AF) terminado en junio 30 del 2012….” Continue reading.

Gran Centro Turístico en Roosevelt RoadsSin Comillas (14 de abril de 2013)

“Puerto Rico ya no es competitivo en la manufactura. En diez años, los empleos de manufactura han bajado del 10% a sólo el 6% de todos los empleos en Puerto Rico. Continue reading.

Entrevista Radial de David R. Martin Foro Económico con Nilda Pérez WMBJ 1090 San Juan, Puerto Rico (8 de abril de 2013)

Los economistas y los primeros 100 días de García Padilla: “La política fiscal es contradictoria”Sin Comillas.com (2 de abril del 2013)

Por Luisa García Pelatti

David R. Martin (Toledo, OH, 1961) es abogado corporativo. Estudio en New York University – LLM impuestos. Trabaja como abogado administrador en D.R. Martin, LLC, en Atlanta, Georgia. Es autor de “Puerto Rico: El Manual de Rescate Económico” (2013). Continue reading.

Puerto Rico: The Economic Rescue Manual

January 3, 2013

A step-by-step guide to Puerto Rico’s economic renaissance.

Buffeted by globalization, Puerto Rico is no longer competitive in manufacturing. Generous tax exemptions have failed to stem huge job losses and have contributed to an alarming fiscal crisis.

While having better baseline attributes than Las Vegas, Macau and Dubai, Puerto Rico’s leisure and entertainment potential remains grossly underdeveloped. The overuse of isolated high-end, resort enclaves has inhibited the sector’s growth.

The centerpiece of The Economic Rescue Manual is the creation of a mega-entertainment city on the east coast of the Island. By adopting the specific initiatives and policies of The Manual, the Island will be poised for a new era spectacular growth.

(English print edition –  Amazon – The Book Patch)  (Versión en español impresa – AmazonThe Book Patch)

(English electronic versionAmazonBarnes & Noble) (Versión en español electrónica – AmazonBarnes & Noble)

The Way to Eliminate Confusion about Puerto Rico’s Status – The Washington Post (Nov. 26, 2012) (Letter to the Editor).

“The flawed, two-part referendum in Puerto Rico this month risks perpetuating the confusion that has vexed the debate on the island’s status for more than a century.” Continue reading.

Objection to Privatization of Luis Muñoz-Marín International Airport

Regulations.gov (posted Nov. 5, 2012).  The primary purpose of the proposed 40-year lease of a profitable airport is to pay off government debt, not improve air transportation in Puerto Rico.  Read full publication at Regulations.gov docket # 2009-1144-0179.

Macau, A World Gem:  Will It Be Cut or Polished? – Macau Daily Times (July 26, 2012)

“Lately much of Macau’s headlines concern high-stakes corporate drama and showdowns involving multinational casino resort operators and gaming moguls.” Continue reading

Puerto Rico City – A Novel

Puerto Rico City, LLC (publisher) (March 14, 2012) – A fictionalized account of the creation of Puerto Rico City, a proposed new entertainment city and the cornerstone of Puerto Rico’s economic renaissance.  www.puertoricocity.com

A Fairer System for Taxing U.S. Corporation Dividends – The Wall Street Journal (Dec. 7, 2011) (Letter to the Editor)

Regarding your editorial “America the Difficult (Nov. 28):  None of the three jurisdictions that you commend for the flatter and lower business taxes—Hong Kong, Singapore and Ireland—is a world power.

As a matter of individual profit maximization, lower-tax jurisdictions may be attractive to businesses seeking to escape taxes back home. But how much protection do these tiny countries provide for companies faced with expropriation, breach of their contracts, criminal prosecutions of their executives and infringement of their intellectual property? How valuable is a Hong Kong patent? A Singaporean trademark? Or an Irish copyright? How influential are their diplomats or their military?  Continue reading

2011 Latin American Arbitration Table

Reference guide for arbitration of disputes in Latin America.  Continue reading

Restraint Towards China is a Sign of U.S.’s Weakness – Financial Times, (Jan. 18, 2011) (Letters).  Continue reading

Canada’s Plusses and One Minus – The Wall Street Journal (Jan. 14, 2011) (Letter to the Editor).  Continue reading

Politics Touches Any Method of Selecting Our Judges – The Wall Street Journal (Nov. 8, 2010) (Letter to the Editor) Continue reading

Puerto Rico City– The Leisure and Entertainment Capital of the World

Rosy – The Leisure and Entertainment Capital of the World  By David Martin, Esq.
On May 15, 2008, the U.S. Navy rejected all bids made for approximately 2,900 acres of the former Roosevelt Roads U.S. naval base, according … Continue reading

Argentina Opens Doors to U.S. Investors

© 1995 International Financial Law Review (March 1995) (Euromoney Publications PLC)   sub nom David R. Martínez   On October 20, 1994, the US-Argentine bilateral investment treaty came into effect, offering …Continue reading

Andean Pact Decision 344: Industrial Secret Protection in Bolivia, Colombia, Ecuador, Peru and Venezuela

©1995 Published in Latin American Law & Business Report 30 (Vol. 3, No. 3, March 31, 1995)   Industrial Secrets Protected for the First Time On January 1, 1994, Andean Pact legislation began protecting industrial secrets for the first time. Applying to Bolivia, Ecuador, Colombia, Peru, and Venezuela, Decision 344 replaced Decision 313, passed in 1992, which had …Continue reading

Costa Rica: At Termination, Independent Reps are Anything But

©1999 Published in Latin American Law & Business Report (Vol. 7, No. 5, May 1999).  U.S. businesses and other foreign companies seeking to engage a sales representative or distributor or to license a trademark to a company in Costa Rica should proceed with caution. Costa Rica provides significant legal restrictions on the termination of sales …Continue reading

Guatemala: The Law of Agents, Distributors, and Representatives

©1999 Published in Latin American Law & Business Report (Vol. 7, No. 4, April 30, 1999). Effective March 11, 1998, Guatemala amended its Commercial Code provisions on agents, distributors, and representatives. Replacing Decree 78-71, Decree 8-98 revises Articles 280 to 291 of Chapter II, Title II, Book I of the Commercial Code. Continue reading

Puerto Rico: Arbitration

As part1 of the United States, Puerto Rico must observe the Convention on the Recognition and Enforcement of Foreign Arbitration Awards2 and the Inter-American Convention on Commercial Arbitration 3 in international commercial disputes where private parties have agreed to arbitration. Continue reading