Puerto Rico Beyond IRS Reach Woos Paulson-Sized Fortunes (Bloomberg)
Monday March 18th, 2013
[...]Puerto Rico, eager for economic growth, is making an unusually direct pitch to wealthy Americans that risks a political backlash from Congress, said John Buckley, a former tax counsel for Democrats on the House Ways and Means Committee.
"They're walking a fine line," Buckley said. "This would be the first time that Puerto Rico would kind of deliberately erode the U.S. tax base for individuals."
Already, 10 Americans have taken advantage of a year-old Puerto Rico law that lets them avoid local and U.S. capital gains taxes by signing agreements with the territory's government. Paulson, a 57-year-old New Yorker, is considering such a move, according to four people who have spoken with him about it, Bloomberg News reported March 11.