Friday, December 19
That was way back when I opposed gun control
It appears Howard Dean once signed a bill designed to aid offshore insurance companies, including an Enron subsidiary:
Dean has criticized corporations that incorporate in Bermuda for tax reasons. Yesterday, in a speech prepared for delivery in New Hampshire, Dean said, "It's time to look behind the fiction that allows corporations to become citizens of places like Bermuda and avoid paying income taxes on their foreign income."
In May 1999, Dean signed a bill designed to help self-owned, or "captive," insurance companies that intended to remain offshore. The legislation, for example, allowed an offshore-based captive insurance company to set up a "branch" in Vermont as a way of complying with US labor laws. This occurred when the captive wanted to cover employee benefits, a new form of business for the captives. The branch was not in an actual building, but was an operation run by Vermont-based specialists in the insurance business.