Sen. Sanders Mentions Bermuda At Town Hall
During a recent CNN Town Hall US Senator Bernie Sanders — one of 20 candidates vying for the Democratic party’s Presidential nomination — spoke about income and wealth inequality, saying they will “do our best to end the tax havens that exist in the Cayman Islands, Bermuda, and other countries.”
The self-described democratic socialist said, “I think what we need is a fair and progressive tax system in order to raise the revenue that we need to help working families in this country and deal with the very serious problem of income and wealth inequality.
“So I have no apologies to make in saying that we are going to do our best to end the tax havens that exist in the Cayman Islands, Bermuda, and other countries, where corporations and wealthy individuals around the world, not just from America, stash trillions of dollars, and then back home in the United States or in other countries, they’re cutting back on education, they’re cutting back on health care. That does not make a lot of sense to me.
“So, you know, I do believe that very wealthy people and large profitable corporations should begin to pay their fair share of taxes. And I got to tell you that I think Trump’s tax proposal which gave $1.5 trillion in tax breaks over a 10-year period to the top 1 percent and large profitable corporations driving up the deficit was an absolute outrage. If elected president, I will rescind those tax breaks.”
Bermuda, and other offshore jurisdictions, are sometimes brought up during U.S. election seasons in political ads or on the trail; President Barack Obama’s campaign targeted Republican candidate Mitt Romney’s connection to a Bermuda company in the 2012 election, both Senator Sanders and Hillary Clinton mentioned Bermuda during the Democratic primary of the 2016 U.S Presidential Election, and the island was also mentioned in a political ad during the 2018 US Senate elections.
Says the multimillionaire himself! Guy is a nut job.
He wrote a book and made a million dollars and he is hardly a multimillionaire…we are a tax haven for corporate profits and every country wants their share….only a matter of time…Bernie is correct…
Bermuda is a vehicle for US reinsurance companies to be competitive world-wide. All funds repatriated to the US are taxed appropriately.
Excuse me sir…but it seems to me that Baltimore is suffering from an impossible minimum wage of three to four dollars an hour.
Please do me a solid and try to budget that out with necessative expenditure all in….and I think you will seethe problem lies within.
Typical socialist. His only ideas revolve around taking away from people what they have earned.
Typical conservative dog whistle response too…I doubt you even understand what Democratic Socialism entails.
Ok, he calls himself a ‘democratic socialist’. And then when he speaks every ‘idea’ he articulates is about taking away things that other people own, and what they may earn.
Well, hold on for a moment. Don’t attack the messenger, challenge his assertions/assumptions.
I’m reasonably supportive of more socially responsible policies, and we all know not all apparently low tax jurisdictions are the same. I can tell you Bermuda doesn’t feel like low tax to me right now!
It’s cheap politics on Sanders part, and he should know better. It’s up to our wet behind the ears premier and great orator to counter appropriately with his side kick for help if he needs it.
We still on that blacklist?
This is what happens when we do not distance ourselves from our Caribbean neighbors. The PLP wants to end our uniqueness and lump us in with the rest of the Caribbean and then calls foul when it doesn’t suit them. Oh and by the way, we may call ourselves a low tax jurisdiction or an island that promotes tax avoidence but not a tax haven but to anyone in the USA they are not going to split hairs
Seriously? Even if the world saw Bermuda as distinctly North Atlantic and not Caribbean, they’re still going to get the “dirty tax haven” label from those with their own agenda. And of all the things to make local political hay over, this isn’t it – either PLP or OBA govts would have to deal with it.
Don’t worry about this moron! He won’t make it to or through the election! Too old and not a today thinker!
Go Bernie.
Truth is a pain
Bermuda is one of the highest taxed countries on the planet.
I mean, he’s not wrong. We profit off of the corporate companies here greed and avoidance of paying their fair share at home.
Bernie Sanders does not know what he is talking about. The United States is the biggest tax haven in the world!! Not to mention huge amount of money laundering that goes on inside the US! Bernie Sanders is an inconvenient truth, a liberal, socialist, condescending, like his friend Jeremey Korbyn.