There are consequences to raising taxes! Higher taxes drive businesses and consumers away. Higher taxes lead to less money in the pockets of consumers, less money for businesses to employ people, less money for businesses to expand.
Carolina Sam’s Club consolidation impacts 250 employees
SAN JUAN – Amid the state of uncertainty caused by Puerto Rico’s economic crisis, membership warehouse chain Sam’s Club announced Wednesday it will consolidate its operations in Carolina. Its Los Colobos location in the municipality will be closed, leaving its 250 people employees jobless starting Friday.
Iván Báez, spokesman for Walmart and Sam’s Club in Puerto Rico, said in a WKAQ 580 radio interview that “the entire retail sector is undergoing a transformation” due to the island’s fiscal crisis. Báez said the store’s poor performance and hiked Carolina taxes were key reasons for the decision.
The chain will now consolidate its operations in that town at Sam’s Club in Escorial. Despite the closure, Báez assured that the Los Colobos employees may opt to work in one of the other 10 Sam’s Club stores on the island and may also request being interviewed to work at the company’s Walmart locations.