This NPR Indicator episode examines Puerto Rico's attempts to revitalize its economy through tax incentives for wealthy individuals, specifically Act 22. The podcast explores the history of such policies in Puerto Rico, highlighting a previous failed attempt in the 1970s and the mixed results of Act 22, which attracted some high-profile individuals but yielded fewer jobs than anticipated. The episode also discusses the unintended consequences, such as rising housing costs and displacement of long-term residents, alongside the perspective of former Governor Luis Fortuño and the social commentary reflected in Bad Bunny's music. A key takeaway is that while Act 22 had some impact, it wasn't a panacea and its effects on the island's economy and social fabric are complex and multifaceted. The episode ultimately questions the effectiveness of attracting wealthy individuals as a primary strategy for economic recovery.
