5984.1 Assessment
Research Question (Clear, unambiguous) "Someone who attends Puerto Rican public education will gain less income than a similarly educated American" is problematic as a research question.  It is too ambiguous in its meaning.  The multiple questions that precede this are too broad and vague to help.
Relevant Literature The vague comments about "one would have to look into" seem off target.  Presumably you would need to cover the literature on research into educational effects on income.
Causal Interpretations (clear, all parts defined, mechanisms, controls, plausible) While the general social and historical context presumably explain the structure and quality of education in Puerto Rico, they won't tell us anything about people's individual success.  For that, one must consider the social circumstances of the students, the education being offered, the economic opportunities available, and the implications of geographical mobility.
Data (variables, sample, comparison) Whether or not the IPUMS data are appropriate for this study is unclear.  The discussion of variables - other than indicating the obvious fact that they should include income and education - does not seem to indicate a research strategy.
Research Value Exploring the educational institutions of PR and their role in economic achievements seems worthwhile.  The idea of a general comparison to the continuous US still seems fairly vague, given the variation within the US.
Overall There seems to be a potential (or multiple potential) research project here, but it is still too vague to judge where it might go.