Another Rangel Property Scandal?
Reader Comments
It's Always the LIttle Things
How could Charlie get in this much trouble for little upside? See Writing Frontier's "It's Always the Little Things" at http://writingfrontier.com/2008/09/12/the-little-things/
Media ignoring this.
Why is this story such small news. If Rangel were a Republican, this story would have been covered everywhere.
Rangel's Investment in the D.R.
Whether or not Mr. Rangel owes taxes on "unreported income" from his villa in the Dominican Republic depends on how that investment was structured, and the full details are not yet clear. For example, did he and his wife list themselves on their returns as actively or passively involved in the management of their property, or was it managed for them? it sounds as though it was a passive real estate investment. Did they receive income from a rental pool at the resort or only from renting out their own villa? Big difference there. What do the news reports say? As for depreciation, are they using a 40-year straight line depreciation? We don't know what depreciation method they've used, and so it's too soon to say that the 20 year old property was fully depreciated for tax purposes.
None of this is to defend Mr. Rangel. He has an accountant, who should have been on top of things, and we may yet find out that this is a simple case of poor oversight rather than misfeasance. It does show, however, that the IRC is very complicated, apparently too complicated even for the chairman of the Congressional tax writing committee, and the lesson to be learned, Mr. Rangel (and I'm talking directly to you), is that the tax laws of this country need to be simplified. Can we now count on your help?
Charie Rangel pay your taxes
Why do these guys always blame some one else. His wife did it! Come on now, Send her to jail then and make him cook his own meals Didn't Christopher Dodd blame his wife too when he got caught taking a sweetheart deal from countrywide?. Send her to jail too and make Dodd eat Charlie's cooking
Rangel, Congress and the U.S. Tax Code...
I have to admit to giggling a bit when I read the comment posted above by Alan in PA. Hard to contain my laughter when he writes::
"Charlie Rangel should know the tax code like the back of his hand, and if he doesn't, then he should not be Chairman of the House Ways & Means Committee. This guy helps formulate tax code for the I.R.S. and doesn't know income when he sees it."
HA, HA, HA!!!
Do you NOT see the irony in?
Our Tax Code is a nightmare specifically because of politcos like Mr. Rangel.
If government were to be run in the way that government was originally meant to be run you wouldn't even know the name Charles Rangel!
To that extent we'd all be better off!
NO FREE PASSES FOR POLITICIANS
This is an excellent piece by Mr. Dealy. Morality, honesty, and integrity should be the benchmarks for all elected officials. We pay them to serve us, not themselves. It's time to stop making excuses for politicians' unethical, immoral, corrupt, or illegal activities.
AND NO ONE GETS A PASS BECAUSE OF THEIR POLITICAL PARTY'S PERCEIVED VALUES! NO ONE!!!!
When the Democrats in the U.S. House and Senate promised Americans they would "drain the swamp", I'm sure they expected to find both liberals and conservatives mired in the mud!!! AND I'M ONE AMERICAN WHO THINKS IT'S TIME FOR POLITICIANS OF ALL PARTIES TO CLEAN UP OR PACK UP!
Dem or Rep, they all do it.
All this ragging on Rangel is nothing more than partisan BS. Everyone who earns an income above a million a year evades taxes as much as possible. They run very little risk in getting caught, too. So what? Send him to jail and go get the next tax evader. Dem or Rep, it makes no difference.
I will, however, point out that Democrats don't set themselves up as the icons of morality in the country, which makes the legal failings of a Democrat somewhat less hypocritical to take than those of Republicans. My question: Why is Larry Craig still in office? After all, as a LAWMAKER, he should know that pleading guilty means you're guilty of the crime and there are no do-overs. He plead guilty. But this is what was said:
"On September 10, 2007, Craig's attorneys filed a motion to withdraw his guilty plea arguing that it "was not knowing and intelligent and therefore was in violation of his constitutional rights." "
Gosh, it looks like a REPUBLICAN who makes the laws doesn't know about how they work and isn't intelligent in their use. Ya think maybe they're both idiots and both should be out of jobs?
Everyone trashing Rangel should look around for glass walls because people who know better are getting busted all the time on both sides of the political spectrum.
Best Editorial on Rangel Beach Property
Sam Dealey's editorial on Charlie Rangel's property on the beach in the Dominican Republic is the best I have read. While the mainline news media would like to forget about this Charlie Rangel scandal, it should be headline news. Charlie Rangel should know the tax code like the back of his hand, and if he doesn't, then he should not be Chairman of the House Ways & Means Committee. This guy helps formulate tax code for the I.R.S. and doesn't know income when he sees it. Of course, Lanny Davis(Is He a Tax Attorney?), trying to help cover it up with the comments on it wouldn't affect his Federal tax liability anyway because of depreciation, is playing the American public for fools. If Charlie Rangel was getting an interest free loan, than the adjusted basis of the beach property should have been written down to zero by 2002 with the income being reported every year, and every cent would have been taxable after 2002 because there would have been nothing left to depreciate. If Charlie Rangel doesn't owe tax for at least the last 6 years on the beach property, then I guess the tax code is only for the working class, and rich Democrats are excluded from I.R.S rules.
Adam Clayton Powell
Representation from Harlem always has seemed like of and for the representative, as Adam Clayton Powell reminded us when he convinced his constituents to send him back to an ousted House. Seems like Rangel found himself caught with his hand in the cookie jar. Now here comes the shuck and jive.
Rangel and outsourcing
Political policies have resulted in a lot of industry outsourcing jobs. Our government outsources a lot of work. I think the people aught to consider outsouring many political jobs.
Some CPA firms already outsource the preparation of our tax returns. Who needs Charles Rangel? I say fire Rangel and outsource Rangel's job. We don't need politicians who serve themselves.
We can get a better deal turning over many of our government functions -- especially tax -- to other countries that demonstrate that they are doing a better job.
