Monday, September 15, 2008

Charlie Rangel says he will pay his taxes...how sweet

Being judged the biggest hypocrite in Congress is a VERY high hurdle but Charlie Rangel is way up there. He owns 3 rent controlled apartments in New York. Rent control is a program "designed" to help the poor. It is, in fact, an invitation to corruption and hypocrisy and Charlie has accepted that invitation.

But even higher on the hypocrisy scale is his explanation that he forgot to report income from a foreign condo. Now he says that he will pay his back taxes but says he should be allowed to continue to determine tax policy. Expect the historically low approval rate for Congress to ratchet down a few more points.

Link

Amid growing allegations of unethical conduct, US Representative Charles Rangel has said that he intends to pay any taxes he owes on foreign investment income, although he is refusing to relinquish his chairmanship of the powerful House Ways and Means Committee, which writes tax legislation.

In a news conference to explain his position, the flamboyant New York Democrat insisted that he had "done nothing morally wrong," and that any irregularities in his financial affairs were errors of omission rather than deliberate deception. He announced that his tax attorney is looking at his filings going back some twenty years, and that he fully intends to pay back any federal, state or local taxes that he owes, which have been estimated at USD10,000.

"I do hope that my explanation will be sufficient to say that we do make errors, even though we consider ourselves experts in terms of tax policy for the nation," he said by way of an explanation.