Word: rico
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...newly arrived resident of Puerto Rico, famed Cellist Pablo Casals, turned 80, looked and talked closer to 40. Spaniard Casals, for the past 17 years a self-exiled dweller in France, explained why he will go on declining invitations to visit the U.S.: "I have a great affection for the U.S., but as a refugee from Franco Spain, I cannot condone America's support of a dictator who sided with America's enemies, Hitler and Mussolini. Franco's power would surely collapse today without American help." The secret of Casals' youthfulness? "The man who works...
Election Day went according to form in Puerto Rico. Governor Luis Muñoz Marin won his third four-year term handily, polling almost twice as many votes as his two opponents combined. By giving Muñoz Marin's Popular Democratic Party a landslide-proportioned 62.5% of the total vote, Puerto Ricans proved beyond a shadow of a doubt that they prefer the governor's personally designed status as a U.S.-associated commonwealth to either national independence or U.S. statehood...
...CONCESSIONS will be given to U.S. and other foreign businesses that open branches in Jamaica, which is following tax-exemption lead of Puerto Rico to encourage industrialization. All foreign firms will be free from income tax for first seven years. Jamaica-based service companies, e.g., transport, insurance, brokerage firms, will be permanently tax-free if they do not compete locally...
This year Munoz Marin is challenged by a man renowned enough to cut down the 65% majority Munoz Marin earned in 1952. Luis Ferre, 51, is a member of Puerto Rico's most important and progressive industrialist family. Master of a fortune earned in cement, glass, shipping, tile-making and trucking, he believes that "industry is not a collection of machines and tools and buildings. It is a social entity that has the responsibility of realizing the happiness of those who work in it." Ferre industries were famed for paying a $1-an-hour minimum wage long before...
...significant, underlying issue of the election is Puerto Rico's relationship with the U.S. Ferre's party wants the island to ask Congress for statehood-which would give Puerto Ricans the vote in U.S. elections, but would subject them to the income tax. Munoz Marin sticks by his self-designed commonwealth status, under which Puerto Rico has substantial home rule along with tariff-free access to the U.S. mainland market, plus the common citizenship with the U.S. that lets the island's unemployed migrate freely. The majority of Puerto Ricans seem to like the commonwealth plan...