ANOTHER TAX CHEAT!!!

[Outnumbered]

Funny and disturbing how the leaders of the party of TAX, TAX, TAX, never seem to pay their own taxes...

http://www.nypost.com/seven/08282009/news/regionalnews/oops__charlie_forgot_this_1m_house_186849.htm

[Outnumbered]

OOPS! CHARLIE FORGOT THIS $1M HOUSE
By CHARLES HURT Bureau Chief


August 28, 2009 --
WASHINGTON -- Rep. Charles Rangel failed to report as much as $1.3 million in outside income -- including up to $1 million for a Harlem building sale -- on financial-disclosure forms he filed between 2002 and 2006, according to newly amended records.

The documents also show the embattled chairman of the Ways and Means Committee -- who is being probed by the House Ethics Committee -- failed to reveal a staggering $3 million in various business transactions over the same period.

This week, Rangel filed drastically revised financial-disclosure forms reflecting new, higher amounts of outside income and numerous additional business deals that had not been reported when the reports were originally filed.

In 2004, for instance, Rangel reported earning between $4,000 and $10,000 in outside earnings on top of his $158,100 congressional salary.

But the amended filings show that after the sale of a property on West 132nd Street, his outside income that year was somewhere between $118,000 and $1.04 million.

The forms filed by House members provide for a range of value on such transactions, so the precise number isn't publicly known.

Rangel also lowballed his income by as much as $70,000 in 2002, $46,000 in 2003 and $117,000 in 2006, records show.

Only in 2005 did Rangel reveal his total outside income.

Members of Congress are required to disclose all their assets and outside income in an effort to expose possible undue influences.

Rangel's office insists the Harlem Democrat did not conceal any outside income from the IRS and is paid up on his taxes.

The Post revealed yesterday that Rangel is in arrears on New Jersey property taxes -- for property that for more than 15 years he failed to disclose to Congress and the public.

Another area of wide discrepancy in his financial-disclosure forms is where he's required to list financial transactions.

Every year between 2002 and 2007, Rangel failed to include all his deals for the year, according to records.

On his 2002 and 2003 financial-disclosure statements, Rangel did not include any transactions whatsoever, according to papers on file with the House clerk.

But the amended records filed this month show as much as $310,000 in business deals in 2002 and up to $80,000 in transactions in 2003.

In 2004, Rangel left off his disclosure form as much as $430,000 in stock transactions, amended records show. One of those deals he did include as a transaction on his original disclosure was the sale of the brownstone on West 132nd Street.

But in the same report, Rangel failed to include proceeds from that sale as outside income. That has been revised in the amended report.

Despite the reported sale, city records still show Rangel is the owner of that property.

His nephew, Ralph, who appears to live in the building, wouldn't answer questions yesterday. Rangel's office declined numerous requests yesterday for explanation.

The problems with Rangel's 2004 disclosure report were so glaring that apparently they caught someone's attention, forcing Rangel to write a letter correcting his failure to fully disclose transactions that year.

"I listed only the real-estate transactions in which we were involved in calendar year 2004 on the transactions schedule because I was not aware of such details as the date and magnitude of the transactions involving our securities holding in the Merrill Lynch account," he wrote in a May 2006 letter to House Clerk Karen Haas.

churt@nypost.com

[Outnumbered]

http://online.wsj.com/article/SB10001424052970203706604574376720192072820.html


The Absent-Minded Chairman
Charlie Rangel wins the personal lottery..

When normal people happen to "find" their own money, it might mean a twenty left in a winter coat, or discovering change beneath the sofa cushions. But if you're Charlie Rangel, it means doubling your net worth.

Earlier this month the Chairman of the tax-writing Ways and Means Committee "amended" his 2007 financial disclosure form—to the tune of more than a half-million dollars in previously unreported assets and income. That number may be as high as $780,000, because Congress's ethics rules only require the Members to report their finances within broad ranges. This voyage of personal financial discovery brings Mr. Rangel's net worth for 2007 to somewhere between $1.028 million and $2.495 million, while his previous statement came in at $516,015 and $1.316 million.

When you're a powerful Congressman and working diligently to increase tax rates to pay for President Obama's health-care plan, we suppose it's easy to lose track of one of your checking accounts. That would be the one at the federal credit union with a balance somewhere between $250,001 and maybe as high as $500,000. And when you're crunched for time and pulling together bills to pass in a rush, we guess, too, that you might overlook several other investment accounts, even if some of them are sizable, such as the ones Mr. Rangel missed at JP Morgan, Merrill Lynch, Oppenheimer and BlackRock.

Oh, and those vacant properties in Glassboro, in southern Jersey? Everybody in Manhattan tries not to think much about New Jersey, so those lots and their as-much-as-$15,000 value must also have slipped down the memory hole. (The New York Post reported yesterday that Mr. Rangel failed to pay property taxes for two of the lots, according to the county clerk's office.)

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Associated Press .
The Chairman probably isn't doing a lot of dining at KFC, Pizza Hut, Taco Bell or Long John Silver's, either, which may explain why he didn't disclose the $1,001 to $15,000 in stock he owns in Yum Brands, the conglomerate that runs those chain restaurants. Compared to his undisclosed portfolio stake in PepsiCo—$15,001 to $50,000—that's practically a rounding error.

All lawmakers amend their financial reports from time to time, though rarely are the errors this extensive. Via email, a Rangel spokesman declined to offer details about how the errors occurred, noting that "Once the Ethics Committee completes its work, then we can answer questions in more detail." He added that Mr. Rangel is now "confident that his records have been subjected to an exhaustive and complete review, and that the amendments accurately reflect his financial interests."

Among other issues, Mr. Rangel is currently under investigation regarding his use of four rent-stabilized apartments at New York City's tony Lenox Terrace and soliciting donations with his official letterhead for the Charles B. Rangel Center for Public Service at City College of New York, which was itself built with a $1.9 million earmark. Yet another part of the probe is his failure to report $75,000 in income from a rental villa at the beachfront Punta Cana Yacht Club, in the Dominican Republic.

Mr. Rangel blamed that last one on the language barrier because he doesn't speak Spanish. We can only imagine what language he speaks with his accountants and tax attorneys.

[snake321]

Rangel is a POS. I can't fathom why they keep reelecting him....