Wednesday, September 10, 2008
Democratic Chairman Of Tax Committee Forgets To Pay Taxes
U.S. Rep. Charles Rangel (D-NY) is one of the most powerful members of the U.S. House of Representatives as chairman of the House Ways & Means Committee, which is responsible for writing our nation's tax laws. It seems Rep. Rangel forgot to pay income taxes on rental income he earned from a beachfront property he owns in the Dominican Republic. According to the Washington Post, Rangel owes about $10,000 in back taxes to the federal, state and local governments on unreported income of $75,000. Republicans think Democrats should force Rangel from his powerful post. The House Ethics Committee is already examining Rangel's rental of several New York apartments at below-market rates and "his fundraising entreaties to corporations and foundations on behalf of an academic center that bears his name." Rangel says he'll take care of the back taxes not to worry about it.
UPDATE: The New York Post has the back story here.