most respected, and most feared union in the “free world”.The choice of statehood would bring about some mild economic change in regards to industry, though there will an overhaul of our taxation system. The implementation of the United States taxation system will be a rather “taxing” process. These systems of taxation which include a state as well as federal taxes, not to mention the whole slew of taxes that fall under the aforementioned classifications. Things such as excise taxes and other fees to that nature may have will surely have a negative effect on the island’s economy.Though there are some benefits to this taxation, they will be seen in an increased amount of federal aid. The benefits will in the form of numerous entitlement programs that were previously unavailable, such as the advantages of federal unemployment insurance. Though the private vendors and small businesses will truly feel the burn of these taxes as few of the benefits are aimed towards them.Though there is an upside to the economic system that will be put in place if Guam becomes the 51st state. The whole attraction of the island of Guam is that it is dubbed as “Little America” along the east –Asian seaboard. That is why the island is so attractive because it is cheaper and closer taste of America. Guam will attract more visitors due to its new stable governmental and economical system. The fact that Guam is a state will surely boost the amount of visitors the island attracts annually. So although taxation is a downfall, the economic boost that statehood will provide will provide a market for many new establishments and businesses on the island. These businesses will create business and put money in the pockets of the people of Guam.The political system that will be put into place is one of the major upsides to being a state. Plain and simple the most respected document on earth will become the law of the land on ...
