By: Byron York
Source: washingtonexaminer.com
It hasn’t gotten much attention amid news of Ted Kennedy, Obamacare and the worsening outlook in Afghanistan, but an extraordinary situation is developing in the House of Representatives. With each passing day, it’s becoming more clear that the powerful committee chairman in charge of writing America’s tax laws is a financial wheeler-dealer, a serial asset-hider, and a tax offender.
Rep. Charles Rangel has been in the House since 1971. He’s as old bull as you get in the Democratic hierarchy, and he waited through 12 long years of Republican rule to take over as chairman of the Ways and Means Committee in 2007. Along with Speaker Nancy Pelosi and fellow Democratic power brokers Henry Waxman and Barney Frank, Rangel is playing a key role in the effort to push the president’s health care, environmental, and financial initiatives through the House.
Last week, we learned that Rangel filed a grossly misleading financial disclosure report for 2007 — failing to report at least half a million dollars in assets.
It turns out Rangel had a credit union account worth at least $250,000 and maybe as much as $500,000 — and didn’t report it. He had investment accounts worth about the same, which he also didn’t report. Ditto for three pieces of property in New Jersey.
