I'll sleep much better now. Thanks John.
Posted on 08/23/2007 3:30:23 PM PDT by Shermy
US Republican Presidential candidate John McCain has pledged to protect Bermuda's international businesses if he is successful in his White House bid. The Arizona Senator, who spent three days on the Island this week meeting business and political leaders, said he understood the concerns of the insurance and reinsurance sectors about draft legislation proposing a clampdown on US business operations in so-called tax havens.
He told The Royal Gazette: "The industry, the re-insurance that's had such phenomenal success has been good for both nations. I would oppose any measures that would upset that."
He also pledged to back Bermuda as a tourist destination, describing the warm welcome the Island extends to thousands of US visitors each year as "frankly, the greatest aspect of Bermuda-US relations."
Earlier this year, Premier Ewart Brown and Premier Paula Cox discussed the tax haven legislation in Washington with influential Democrat politician, Congressman Charles Rangel, chairman of the powerful financial House Ways and Means Committee.
He told the Government delegation that Bermuda was not on the list of jurisdictions that could suffer from the proposed clampdown on offshore US business operations. The views of Republican presidential candidate Senator McCain are sure to provide further re-assurance to Bermuda's business leaders.
Senator McCain arrived on the Island on Monday, having had his interest in Bermuda sparked by talks with former Premier Alex Scott during the latter's official visit to Washington DC in 2006.
He and wife Cindy stayed with family friend Gregory Slayton, US Consul to Bermuda, at Mr. Slayton's official residence. During the trip, he met with Premier Ewart Brown, Opposition Leader Michael Dunkley and former Premier Sir John Swan. He also had talks with business leaders Brian Duperreault; chairman of the Bank of Butterfield, Ralph Richardson; executive director of the ACE Foundation, Philip Butterfield; Chief Executive Officer of the Bank of Bermuda, and Endurance Specialty Holdings CEO Kenneth LeStrange.
"Our conversation was about the war in Iraq, about the economy, taxes and what we might expect and strong economic bonds between Bermuda and the US. Also, the good news about the increase in airlines," said Senator McCain.
A former Naval aviator, he spent plenty of time at sea during his trip, enjoying a sight-seeing tour hosted by prominent Bermudian lawyer Justin Williams on his 43-foot motor yacht Justified. Speaking as he prepared to fly home yesterday, Senator McCain said: "We've had a wonderful trip, and will come back as soon as we can."
Reflecting on the trip, Mr. Slayton said: "Senator McCain has a real deep understanding of Bermuda and all the success Bermuda has — its commitment to free trade and the rule of law and democracy."
Senator McCain suffered a setback in his campaign to reach the White House earlier this summer when two top aides on his team quit. He has been trailing in polls to former New York Mayor Rudy Giuliani and former Massachusetts Governor Mitt Romney.
McCain is diversifying. Not only is he taking money from lobbies that increase profits by insourcing labor to depress wages, he’s taking money from the offshorers too.
Then there’s the carbon credit/cap and trade scam money too.
Keating Five original member.
A candidate for POTUS is campaigning in Bermuda?
He has no shame.
“A candidate for POTUS is campaigning in Bermuda?”
He’s fundraising for cash from American compaines that are dodging taxes in Bermuda.
Tax dodgers, carbon traders, McCain likes groveling to the riff raff.
I'll sleep much better now. Thanks John.
Must not be getting much support from the States. Why couldn't he make these campaign promises to Bermuda here? Was this in our MSM?
I pledge to protect Bermuda's Triangle.
Surprise, surprise! John McCain loyal to offshore interests.
MeCain, a campaign of one.
More like vacationing in the Carribbean and trying to get some press...any press. Thi is the best justification he could come up with I guess.
They move Bermuda while I wasn't paying attention?
Wasn't it vacationing in the Bahamas with Keating that got him in trouble last time? As far as I can see, this didn't make our press. Wonder what the corporations that pay their taxes would think of this?
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