The Right Way to Address Charles Rangel's Scandals
Yesterday's New York Times exposed yet another scandal involving Charles Rangel, the chairman of the tax-writing House Ways and Means Committee, and Republicans are making hay of it.
In an apparent quid pro quo last year, Rangel killed a tax bill that would punish U.S. companies for relocating to lower-tax countries after a CEO pledged $1 million for the future "Charles B. Rangel School of Public Service" at the City College of New York. Previously, Rangel had supported the bill.
With this latest addition to Rangel's growing parade of questionable dealings and laughable excuses—his failure to pay taxes on $75,000 in rental income from his luxury Caribbean beach villa; his gaming of D.C. housing tax credits; his remarkable procurement of four rent-controlled apartments in Harlem; his fundraising appeals for his academic shrine on government letterhead—some Republicans, such as House Minority Leader John Boehner, have renewed their calls that Rangel be stripped of his chairmanship. That seems appropriate. Less helpful, however, is the response from Senate Republican Charles Grassley, who demanded that the "loophole" that allows companies to relocate be "closed."
The irony of it all is that in doing the wrong thing, Rangel inadvertently did the right thing. The U.S. tax rate on corporate income is the second highest in the world. And while other developed countries—Great Britain, Germany, Ireland—are busy slashing their rates to attract more businesses, President-elect Obama has proposed raising these tax rates even higher. Extracting more blood from fewer donors isn't a healthful prescription, particularly during a recession.
Tags: Congress | House of Representatives | politics | taxes | Charles Rangel
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Reader Comments
Tax Fraud Politics and inappropriate use of tax payer money.
FIRE_FIRE FIRE and strip these tax/ kick back political people and the Sanford and Ensign that use tax money for play, when caught I will pay back what a deal, You go rob a bank and get caught do you say I was just kidding Here I Will Pay you back and they let you go? Strip these people of their wealth, put them at the level they have put the everyday worker. You do not have to put them in jail but having them work for min. wage will cure the crooks. How long is it going to take everyone to stop accepting the slap in the face to the American people????
thank you
Is there any way to remove myself as a top commentator? That would be the icing on the cake.
Rangel
What a crook! I agree with a previous post - if a white guy attends a white only church he's a racist - Nobama attends a racist/socialist church and gets elected to the highest office in the free world. The double standard is in full force. We're all headed for deep trouble. Watch the Planet of the Apes - it's now our future. A once dominated race is now in charge and will destroy our coubtry. Rangel, Nobama, Waters, conyers etc will lead the charge.
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