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BERMUDA | RSS PODCAST

Democrat swipes at ?Benedict Arnold? businesses

Another American Democratic politician has aimed a swipe at US businesses domiciled in Bermuda for attempting to wriggle out of their fiscal responsibilities.

Following in the footsteps of defeated Presidential candidate John Kerry, who made the eradication of the so-called ?creed of greed? in Bermuda one of the strongest planks of his campaign for the White House, Congressman Chet Edwards of Texas said on Saturday that he ?could not be silent? when corporations avoid paying their fair share of taxes while government slashed the benefits being paid to war veterans and their families.

?We Democrats should and will put partisanship aside when it comes to supporting our troops, their families and our veterans,? he said.

?At the same time, we will not be silent, when, during our war on terrorism, Benedict Arnold corporations can rent $10,000 a year post office boxes in Bermuda just to avoid paying their taxes while the quality of life programmes for our military families have been cut by $500 million since the Iraqi war began.?

Benedict Arnold was reputed to have conspired with the British during the war of Independence to betray the colonial stronghold at West Point, New York and then fled after the plot was uncovered.

Congress returns to Washington this week to tackle unfinished work on various spending measures, including the bill funding veterans health care. The House Appropriations Committee has approved $30.3 billion, an amount the veterans say is too low.

Not surprisingly, Democratic attacks on Bermuda based US businesses have been met with considerable opposition from local CEO?s, particularly in the insurance sector.

XL Capital chief Brian O?Hara told earlier this year that Democrats had developed an ?anti-business mantra? which was nothing other than a ?populist agenda, devoid of real substance?.