That’s the gist of the famous line uttered by Leona Helmsley. She ended up spending time at ClubFed. It appears that philosophy is shared by the Chairman of the House Ways and Means Committee, Charles Rangel (D-NY).
Mr. Rangel amended his 2007 disclosure report to note an account at the Congressional Federal Credit Union of at least $250,000; stock at PepsiCo and Yum Brands; and real estate in New Jersey that he undervalued. You might say he “Missed it by that much,” as he initially reported that it was worth between $6,511 and $17,900; the amended report notes the true value as between $45,423 and $134,700.
Now news comes out that besides just slightly undervaluing his property he ‘forgot’ to pay his property taxes on that property. Yes, the back taxes are only about $160 but it’s the principle of the matter.
Oh, Congressman Rangel has quite a bit to do with taxes. All tax legislation in Congress must originate in the House Ways and Means Committee. So a gentleman who has plenty of problems reporting and paying his taxes is responsible for the writing of tax policy in the United States. Makes you feel comfortable, right?
Mr. Rangel should resign his position as Chair of the Committee but the chances of that happening are somewhere between slim and none.
Hat Tip: Don’t Mess With Taxes, Instapundit