Bermuda Bombshell Part Two: Bayh Defends Investment, Says Bermuda A “Popular Place”
Evan Bayh keeps sinking to new depths. In today’s Indianapolis Star Bayh was pressed on the fact that he’s invested $1 million to $5 million in a Bermuda-based insurance company. Bayh’s answer as to why he invests in an offshore company is eye opening. His lame excuse is that Bermuda is a “popular place for insurance companies”:
“When asked by IndyStar about Athene Holding, Bayh noted his visit to its U.S. location in Iowa. ‘Iowa is a popular place for insurance companies. Bermuda is a popular place for insurance companies,’ Bayh said. ‘Why? I don’t know.’”
The reason why, which Bayh certainly knows, is that Bermuda is a tax haven. Bayh’s hypocrisy is so great that as a Senator in 2004, he even tried to close the so-called “Bermuda loophole”:
“Back in 2004, Bayh had blasted ‘unpatriotic companies’ that were ‘skipping out from paying their fair share of taxes,’ according to a news release. At the time, Bayh was working to close what he described as the ‘Bermuda loophole,’ an effort to end the practice of companies opening a post office box in an overseas country to save on taxes.”
Bayh’s Bermuda flip-flop is just the latest example that shows Bayh has irredeemably abandoned Indiana and whatever small amount of principles he once possessed.