00:00 Planet Money's episode explores a century-old U.S. tax policy designed to support territories, leading to intense "rum wars" between Puerto Rico and the Virgin Islands over rum production monopolies funded by Uncle Sam dollars.

03:57 Planet Money's episode reveals a century-old U.S. policy causing fierce competition between Puerto Rico and the Virgin Islands over rum production monopolies funded by American tax dollars, resulting in disputes that still echo today.

07:11 The episode explores a contentious history between Puerto Rico and the U.S. Virgin Islands over who gets more from a substantial portion of U.S.-generated rum revenue, revealing deep economic disparities and strategic maneuvering for financial advantage in both territories' past dealings with Captain Morgan distillery since 2008.

10:28 Neville grapples with accepting a $100 million annual rum tax deal from Diageo after discovering potential for greed and economic disparity between the Virgin Islands and Puerto Rico.

13:32 Neville's opposition to the rum tax deal sparks conflict with Puerto Rico after they secure a contract previously offered to his home island.

17:02 Amid fears over losing Captain Morgan and a sense of urgency about rum's cultural significance, Jennifer Gonzalez-Colón confronted the dangerously precedent-setting territory deal for tax money allocation between Puerto Rico and the U.S. Virgin Islands.

20:13 In the U.S., tax dollars meant for rum now fund companies across Puerto Rico and the Virgin Islands, sparking political battles over fair allocation that's led to subsidies becoming a new norm.

23:30 Congress failed to renew the U.S. rum tax program in 2021, causing a significant decrease in funding for Puerto Rico and the Virgin Islands where it was supposed to go towards economic revitalization post Hurricane Maria.