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Rangel Didn’t Disclose (More) Assets

Discreetly buried in the ‘N.Y. / Region’ section of the New York Times:

Rangel Failed to Disclose More Income and Assets, Forms Show

By DAVID KOCIENIEWSKI

August 29, 2009

Representative Charles B. Rangel failed to report hundreds of thousands of dollars in income and assets on his financial disclosure forms for 2002 through 2006, including tens of thousands of dollars in rental income from a Harlem brownstone he sold in 2004, according to records filed this month with the clerk of the House of Representatives.

Mr. Rangel, who is facing investigations by two House subcommittees into his personal finances and fund-raising, filed amended financial disclosure forms on Aug. 12 acknowledging that he had omitted an array of assets, business transactions and sources of income. They include a Merrill Lynch Global account valued between $250,000 and $500,000; tens of thousands of dollars in municipal bonds; and $30,000 to $100,000 in rent from a multifamily brownstone building he owned on West 132nd Street.

The forms require members of Congress to indicate a broad range for an asset’s worth rather than a specific amount, so the exact value of the unreported assets could not be determined.

The latest filings come on top of an amendment to Mr. Rangel’s 2007 disclosure form reported this week showing that he had failed to list at least $500,000 in assets. A spokesman for Mr. Rangel, a Democrat who has represented Harlem since 1971, issued a written statement saying the errors were inadvertent

We almost didn’t post this, since we thought it was a reprise of the similar news about Mr. Rangel that we had posted back on August 26th.

But, alas, this is in addition to those earlier revelations.

And, yes Mr. Edwards, there really are two Americas.

The rulers and the serfs.

Of course it was never supposed to be like this.

But something seems to have happened along the way.

This article was posted by Steve on Thursday, September 3rd, 2009. Comments are currently closed.

8 Responses to “Rangel Didn’t Disclose (More) Assets”

  1. ilzito guacamolito says:

    I don’t see this ending badly for Charlie…
    http://wcbstv.com/local/charles.rangel.ethics.2.1160326.html

  2. Steve says:

    The New York Post (which has been doing all of the real work on Mr. Rangel) has noted a few more hypocritical things about this Solon of Capitol Hill:

    HYPOCRITE CHARLIE: PUNISH TAX SLIP-UPS

    By CHARLES HURT, DC BUREAU CHIEF

    September 1, 2009 — WASHINGTON — Even as he fends off accusations about his own failure to pay taxes and fully disclose his financial dealings, Rep. Charles Rangel had quietly slipped into the health-care bill broad new provisions cracking down on taxpayers in proceedings with the IRS, The Post has learned.

    The changes approved by the House Ways and Means Committee that Rangel chairs would strip away legal defenses and pile higher penalties on corporate and individual taxpayers facing IRS proceedings for what they claim are unintentional mistakes, experts said.

    Rangel’s bill would:

    * Punish those who fail to alert the IRS to potentially questionable tax exemptions.

    * Bar the IRS from waiving penalties against taxpayers who clearly erred in good faith.

    * Double fines in certain circumstances.

    “The bill raises penalties and eliminates many of the reasonable defenses that taxpayers have always been able to use when honest mistakes are uncovered,” one lawyer told The Post.

    In fact, the bill increases fines “in some cases even for honest mistakes,” the expert added…

    The Rangel plan also would prevent the IRS from waiving punishment in cases where tax officials thought the penalty was excessive.

    Under another provision, the IRS would require that taxpayers self-report areas where they may have gone over the line seeking tax advantages. If they fail to self-report and problems are found, tax penalties skyrocket…

    http://tinyurl.com/no7cpw

    • ilzito guacamolito says:

      ~ The New York Post (which has been doing all of the real work on Mr. Rangel) ~
      I know! I love the Post. I have to beat my husband out to the driveway to get the paper in the morning otherwise I don’t get to read in until the evening.
      The problem with Rangel is that even with the calls of “The Emperor has no clothes!” and potential (though unrealistic) “punishment” by his colleagues in Congress, the sheeple in his district will reelect him no matter what.

    • Liberals Demise says:

      I heard today on Fox News that Chuckles donated money to 3 of the people that was investigating his “Ethics Violations”.

      Nancys’ got herself a “Houseboy” now!!

  3. proreason says:

    Rangel isn’t worried.

    He’s a member of the new Master Race.

    Of course, the last Master Race could build cars, tanks, planes and discover the secrets of the universe.

    This one can keep a beat and run fast.

    We’ll see how things develop.

  4. bousquem says:

    You make a mistake once it’s a mistake, it happens again in short order then it’s fishy. Happens a third time or more then it’s obvious either you have some really shoddy book keepers or more likely in Rangel’s case he is trying to commit fraud. Seems like charlie thinks that everyone should be paying through the nose to the goverment if they make a mistake but then try and correct it but he and his cronies should be exempt from the laws.

  5. TwilightZoned says:

    Even as he fends off accusations about his own failure to pay taxes and fully disclose his financial dealings, Rep. Charles Rangel had quietly slipped into the health-care bill broad new provisions cracking down on taxpayers in proceedings with the IRS.

    The hypocrisy is astounding. Not only should he lose his position, he should go straight to jail. But that will never happen, noooooo.

  6. The scandal fatigue I got under Clinton, didn’t come close to preparing me for this bunch! And just how many race cards are in the $#%^ deck!


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