| TheMercenary |
10-09-2009 06:20 PM |
Makes good sense to me....
Quote:
"Raising a question of the privileges of the House.
Whereas the gentleman from New York, Charles B. Rangel, the fourth most senior Member of the House of Representatives, serves as chairman of the House Ways and Means Committee, a position of considerable power and influence within the House of Representatives;
Whereas clause one of Rule XXIII of the Rules of the House of Representatives provides, “A Member, Delegate, Resident Commission, officer, or employee of the House shall conduct himself at all times in a manner that shall reflect creditably on the House.”;
Whereas The New York Times reported on September 5, 2008, that, “Representative Charles B. Rangel has earned more than $75,000 in rental income from a villa he has owned in the Dominican Republic since 1988, but never reported it on his federal or state tax returns, according to a lawyer for the congressman and documents from the resort.”;
Whereas in an article in the September 5, 2008 edition of The New York Times, his attorney confirmed that Representative Rangel’s annual congressional Financial Disclosure statements failed to disclose the rental income from his resort villa;
Whereas The New York Times reported on September 6, 2008 that, “Representative Charles B. Rangel paid no interest for more than a decade on a mortgage extended to him to buy a villa at a beachfront resort in the Dominican Republic, according to Mr. Rangel’s lawyer and records from the resort. The loan, which was extended to Mr. Rangel in 1988, was originally to be paid back over seven years at a rate of 10.5 percent. But within two years, interest on the loan was waived for Mr. Rangel.”;
Whereas clause 5(a)(2)(A) of House Rule 25 defines a gift as, “…a gratuity, favor, discount, entertainment, hospitality, loan, forbearance, or other item having monetary value” and prohibits the acceptance of such gifts except in limited circumstances;
Whereas Representative Rangel’s acceptance of thousands of dollars in interest forgiveness is a violation of the House gift ban;
Whereas Representative Rangel’s failure to disclose the aforementioned gifts and income on his Personal Financial Disclosure Statements violates House rules and federal law;
Whereas Representative Rangel’s failure to report the aforementioned gifts and income on federal, state and local tax returns is a violation of the tax laws of those jurisdictions;
Whereas the Committee on Ways and Means, which Representative Rangel chairs, has jurisdiction over the United States Tax Code;
Whereas the House Committee on Standards of Official Conduct first announced on July 31, 2008 that it was reviewing allegations of misconduct by Representative Rangel;
Whereas Roll Call newspaper reported on September 15, 2008 that, “The inconsistent reports are among myriad errors, discrepancies and unexplained entries on Rangel’s personal disclosure forms over the past eight years that make it almost impossible to get a clear picture of the Ways and Means chairman’s financial dealings.”;
Whereas the House Committee on Standards of Official Conduct announced on September 24, 2008 that it had established an investigative subcommittee in the matter of Representative Rangel;
Whereas after the Ethics Committee probe was underway, The New York Times reported on November 24, 2008 that, “Congressional records and interviews show that Mr. Rangel was instrumental in preserving a lucrative tax loophole that benefited Nabors Industries an oil drilling company last year, while at the same time its chief executive was pledging $1 million to the Charles B. Rangel School of Public Service at C.C.N.Y.”;
Whereas the House Committee on Standards of Official Conduct announced on December 9, 2008 that it had expanded the jurisdiction of the aforementioned investigative subcommittee to examine the allegations related to Representative Rangel’s involvement with Nabors Industries;
Whereas since then, further serious allegations of improper and potentially illegal conduct by Representative Rangel have surfaced;
Whereas during the recently completed August district work period, Representative Rangel acknowledged his failure to publicly disclose at least half a million dollars in cash assets, tens of thousands of dollars in investment income, and his ownership of two pieces of property in New Jersey;
Whereas corrected financial disclosure statements filed by Representative Rangel on August 12, 2009 now reveal his net worth to be nearly twice as much as he had previously revealed;
Whereas The New York Times newspaper reported on August 26, 2009 that, “United States Representative Charles B. Rangel, whose personal finances and fund raising are the subject of two House ethics investigations, failed to report at least $500,000 in assets on his 2007 Congressional disclosure form, according to an amended report he filed this month. Among the dozen newly disclosed holdings revealed in the amended forms are a checking account at a federal credit union with a balance between $250,000 and $500,000; three vacant lots in Glassboro, N.J., valued at a total of $1,000 to $15,000; and stock in PepsiCo worth between $15,000 and $50,000.”;
Whereas Roll Call newspaper reported on August 25, 2009 that Representative Rangel’s corrected filings also revealed “at least $250,001 in a fund called ML Allianz Global Investors Consults Diversified Port III.”;
Whereas the aforementioned Roll Call story reported that “Rangel also originally misreported that his investments in 2007 netted him $6,511-$17,950 in dividends, capital gains and rental income. In his revised filing, that range jumped to between $29,220 and $81,200.”;
Whereas these most recent revelations by Representative Rangel have resulted in heightened national news media coverage of alleged impropriety and potentially criminal conduct by one of the most senior Members of the House;
Whereas an editorial in The Washington Times newspaper on September 1, 2009 noted, “Charlie Rangel is one lucky guy. The Democratic congressman from Harlem, N.Y., just discovered that his net wealth is twice what he thought. That’s a pretty good day at the office for a public servant. Mr. Rangel also realized that he made tens of thousands of dollars more than he reported in many different years over the past decade. This is the most recent string in a series of financial bonanzas for Mr. Rangel, who last year admitted he had forgotten about $75,000 in rental income on his Caribbean resort property.”;
Whereas the same editorial also noted, “The congressman has failed to pay property taxes on two lots in New Jersey, according to the New York Post. That’s not all. In order to avoid taxes and get lower mortgage rates, Mr. Rangel simultaneously claimed three ‘primary residences’.”;
Whereas an editorial in the September 17, 2009 edition of the New Haven Register stated, “The ethics and tax complaints keep piling up against U.S. Rep. Charles B. Rangel, who as chairman of the House Ways and Means Committee controls writing of the nation’s tax laws. The New York Democrat may write those laws, but he apparently feels no obligation to obey them. The investigation appears to have a long way to go. The man who is in charge of writing the nation’s tax laws doesn’t pay his federal income or local property taxes. He has such a poor grasp of his own finances that he neglects to list half his assets on a disclosure form intended to keep members of Congress accountable and honest. We can already hear the defense of the next tax deadbeat called into court. If Charlie Rangel doesn’t have to pay his taxes, why should I?”;
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