Charlie Rangel Fails To Declare $75,000 In Income — Is That A Problem?
Jon Powers’ big backer Charlie Rangle has failed to declare $75,000 in income from a vaction property he has owned since 1988. According to the New York Times:
Whatever his legal exposure, the tax problems present a political embarrassment for Mr. Rangel, a Harlem Democrat who has sat on the Ways and Means Committee since 1975. As chairman, Mr. Rangel has pushed for higher taxes on the wealthy, unveiling a $1.3 trillion proposal last year that businesses denounced as a threat to the economy.
His finances have been under scrutiny since July, after news reports that a major real estate developer had allowed him to lease four rent-stabilized apartments, including one he had used as a campaign office. Mr. Rangel announced he would give up the campaign office, but keep the other three, and asked the House ethics committee to investigate whether the landlord’s decision to charge him below-market rent should be restricted under the Congressional gift ban.
Nice!
3 Responses to “Charlie Rangel Fails To Declare $75,000 In Income — Is That A Problem?”
Discussion Area - Leave a Comment
You must be logged in to post a comment.
He blamed the whole thing on his wife. Said she handles the family finances. Think about it. Either they are so wealthy that his wife did not notice an extra $75k in income, or she’s so dumb that she didn’t notice and extra $75k in income, or they are so corrupt and tried to get away with screwing the government out of taxes on $75k. I think it’s the third option. Although I don’t want to count out neither of the other two possibilities.
To think that the Chairman of Ways and Means, the committee that manages all taxation for the U.S., doesn’t review his own personal tax returns for accuracy is ludicrous.
What scares me the most is that nobody holds him responsible. I am sure that Jon Powers isn’t going to notice the ethical violations either.
Great points think and ghost. This man is in a powerful position that involves taxing working stiffs like us and he pulls in an extra 75K in income and forgets to declare it!