In an op-ed published February 17 in Fox News Latino, Justin Vélez-Hagan, Public Policy Ph.D. student and Executive Director of The National Puerto Rican Chamber of Commerce, argues recent policies put forth by Puerto Rico’s government are not the solution for long-term economic growth and development.

Vélez-Hagan writes Puerto Rico’s “Jobs Now Act” was intended to grow the economy by offering tax exemptions and credits along with incentives for hiring underemployed groups, but the cost to hire and train new employees far outweighs the benefits of the new policy.

“It’s especially surprising given the latest employment numbers,” writes Vélez-Hagan. “According to the Government Development Bank of Puerto Rico, employment trends have yet to improve. While unemployment actually fell by a full percentage point in 2012, it completely reversed this trend in the first year of this administration, climbing from 14.6 percent to 15.4 percent by December.”

In the column, Vélez-Hagan offers alternative solutions for improving Puerto Rico’s economy and creating jobs.

“Even if they are finally able to balance their budget, the governor is going to have to push beyond his political limits to focus on incentives for growing businesses in Puerto Rico, such as rolling back the higher tax rates, expanding the incentive for foreign investment, and explicitly targeting companies in high-growth industries for residency in Puerto Rico,” he adds.

You can read the full article titled “Puerto Rico Still Doesn’t Get What Makes an Economy Tick” on Fox News Latino’s website here.

While most people hate to waste their hard earned money…EVERYONE hates to see someone else waste their hard earned money.

Take our government for example… and foreign aid.

What percentage of the budget do you think the United States spends on foreign aid? 15%? Maybe even 30%?

Try less than 1%.

For comparison’s sake, Social Security is 22%, Medicare, Medicaid, and CHIP (Children’s Health Insurance Program) are 21%, and Defense is at 19%.

In a 2013 survey, Americans guess that 28% of the federal budget was used on foreign aid. With that, 61% surveyed thought we spent too much on foreign aid. This opinion dramatically shifted the other way when true percent spent was known.

So how is this 1% spent?

USAID, the United Staid Agency for International Development, has spent some of its 1% of the budget on providing food assistance in the war-torn Central African Republic (“Violence, Child Soldiers, Kony and CAR” or vaccination programs for kids affected by the Syrian crisis (“Syria: Already Forgotten?”)

There are arguments that foreign aid does not help and is a waste of American citizens’ tax dollars. Others argue that it is the moral obligation of the United States to help other countries in need.

Regardless of the view, no valid argument can be made until citizens are fully aware of where there money goes.

In a recent Reddit interview, Bill Gates ended with final question,

“How can we help more people understand that foreign aid isn’t 25% or even 10% of the U.S. federal budget, but less than 1%?”

Wednesday, February 19, 2014, 1:47pm EST

Six cyber firms compete for $100,000 InvestMaryland prize

Six cyber security startups in Maryland will vie for $100,000 as they advance to the semifinals of the second InvestMaryland Challenge.

Baltimore’s Integrata Security, Light Point Security and ZeroFox (formerly Riskive), as well as Bethesda’s IntrusionOnline Corp., Arnold’s ITNOVA and Frederick’s Luminal will meet face-to-face with cyber security judges from both the public and private sector on March 6 at the state’s Department of Business and Economic Development’s headquarters.

Each company will then make their elevator pitch as if they were talking to potential investors.

“I expect it to be very similar to when you meet any investor and explain your company and what your solution is solving and what the benefit to potential customers is,” Integrata Security CEO Mike Geppi said.

More than 250 companies across four industries entered this year’s InvestMaryland Challenge. The categories are information technology, cyber security, life sciences and general industry. One winner from each category will win $100,000. Some 41 startups remain across the four categories.

Zuly Gonzalez, chief operating officer at Light Point Security, was among the semifinalists in the IT category last year, and she said her and Light Point’s CEO Beau Adkins were given 15 to 20 minutes to pitch the company and participate with a question and answer with the judges.

Check out our Graduate School Application Guide provides comprehensive information and great resources to help students like you prepare for graduate school, select the best graduate program, complete the application, and fund your education. There is also a typical timeline for applying to graduate school.

Selecting the Best Graduate Program for You

The Guide contains a series of questions to help you determine which program is best for you. Directories and guidebooks can be helpful during the initial planning stage. Professional Journals can help you identify the type of research professors are conducting and where the professors are located. Student organizations can be helpful with networking and providing networking opportunities.

Funding

A graduate degree is an investment in your future. It is important to determine how the education will be financed. You should budget for: tuition, fees, housing and costs of living, books and academic materials, lab costs, and transportation. The Graduate School Application Guide discusses graduate assistantship positions, research assistant positions, fellowships, scholarships, traineeships, federal and state financial aid, and other resources to help students fund graduate school.

Test Preparation

Most universities require admission tests. Some admission tests include Dental Admissions Test (DAT), Graduate Management Admissions Test (GMAT), Law School Admissions Test (LSAT), Medical College Admissions Test (MCAT), Pharmacy College Admission Test (PCAT), Professional Assessment for Beginning Teachers (Praxis), VCAT Veterinary College Admission Test (VCAT), and Graduate Record Examination (GRE).

International students may be required to take a Test of English as a Foreign Language (TOEFL) to demonstrate competency in writing and speaking English sufficient for graduate study.

There are several test practice centers that offer test-prep courses where you can learn test-taking techniques and practice taking admissions exams. These courses can help you improve your score and prepare for what to expect. 

We are here to help! We can critique  personal statements, help you with your graduate school application and preparation, and examine the best graduate school options for you. Please schedule an individual appointment. You can now schedule appointments online using UMBCworks.   

The Daily Iowan’s editorial board recently published a column arguing that the Iowa Senate should reject a $9 million tax break for a motor racing track in Newton, Iowa purchased by NASCAR. The authors contend that accepting tax breaks and appropriating public funds to build and maintain complexes for organizations such as NASCAR can harm the local economy.

A study by economics professor Dennis Coates was referenced in the article in which he argued sports welfare negatively impacts local residents because most money generated by sports stadiums ends up going to the owners.

“The professional sports environment in the 37 metropolitan areas in our sample had no measurable impact on the growth rate of real per capita income in those areas. The professional sports environment has a statistically significant impact on the level of real per income in our sample of metropolitan areas, and the overall impact is negative,” the Coates study noted.

You can read the full column published February 17 here.