Vt. Captive Regulator Says Dean Gets Bum Rap
An article reporting that presidential candidate Howard Dean turned Vermont into a corporate tax haven for captive insurers has riled a Vermont captive regulator, who said the article is full of misconceptions.
The article, written by Michael Kranish in the Boston Globe on Dec. 12, said that as governor Mr. Dean enacted tax breaks that attracted to the state a "Whos Who of Corporate Americaincluding Enronto set up insurance businesses." The article said Mr. Dean succeeded in turning Vermont into the "kingdom of captives" by enticing them with tax breaks.
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