Who is Charles Rangel? He’s just one of a series of controversial New-York politicians to make it into the media. Chuckie is being featured today for one reason only, to reinforce the notion that the career politician is an awful abomination that should be destroyed. Allow me to present you: Fat Bastard Congressman Charles Rangel of the 15th district of New-York, AKA Harlem.

Normally, I like to phrase my Weakies with a good backstory and build everything up, but Chuckie has been way too busy to do that. I will tell you he’s an NYU educated man, lawyer, and Korean War vet with a Purple Heart. He’s a hero, and he’s no moron. Which leads me to believe everything I list below was done deliberately.

He used Congressional letterhead to arrange meetings with potential donors to a center named after him at the City College of New-York. An ethics “no-no”.

Rangel rents 4 apartments in Harlem at below market rates. He paid $3894 per month for all 4 in 2007. The going rate was closer to $8125 per month. 3 are used for his “home” in Harlem while the 4th is used as a campaign office. City law requires that apartments of this type be used for living, not business. The building is owned by a company with one of the owners being a regular contributer to Rangel’s campaigns. The savings add up $50,000 a year, which far exceeds the $100 gift limit established by the House. Quid pro quo? Perhaps. Sketchy? You bet.

He owns some vacation property in the Dominican Republic which during the busy season rents for as much as $1100 per night. He bought the place in 1988 but mortgaged part of it. He was one of a few investors that had interest payments forgiven. In 2008, it was discovered that he had failed to report $75,000 worth of income on the property. Either our tax code is too complicated for a Congressman to figure out, or he was hiding it. Either is disgraceful considering he’s the chair of the House Ways and Means Committee, the House comittee that DESIGNS THE TAX CODE. Only last week did he take a temporary leave of absence amid all the scandals.

In January of 2009, another Congressman introduced legislation for the “Rangel Rule” a joke of a bill designed to forgive taxpayers on interest and penalties for unpaid taxes.

Discrepancies were found in the listed value of a property he owns in Florida. Values vary from $50,000 to $500,000. Not sure what this means, but do YOU have this problem?

Chuckie also uses a parking garage just for Congressmen as personal storage for his old Mercedes Benz. House rules forbid the use for any period longer than 45 days. It’s been there so long the plates are gone, at least a few years. The spaces are valued at $290 a month and could be considered income that would need to be taxed. The doesn’t even have the necessary permits to be in the garage.

He’s taken a homestead tax break on his house in DC, despite maintaining a residence in New-York. Again, no expert but it’s said this potentially violates laws in both areas.

There is a tax loophole that has allowed a corporation to save tens of millions of dollars by operating “in Bermuda”. The corporation has donated $1 million to a City College of New-York center, named after Rangel. Rangel promised to oppose closing the loophole after a meeting with the company’s CEO. 5 days earlier the company donated an additional $100,000 to the City College of New-York. This company is one of only 4 that benefits from the tax break.

In 2008, Rangel paid $80k in campaign funds to a company to develop his a website. The company he paid is run by his son. Sites like this are regularly designed for about $100. A representative of the Campaign Legal Center, a non-profit watchdog said “this is probably legal but definitely wrong.”

Rangel again teetered on the edge of ethics by taking trips to the Caribbean funded by a non-profit in NY, funded by a number of large corporations with lots of lobbying interests.

In 2009, Rangel amended his 2007 financial disclosure form to double his reported net worth. This included properties in NJ (again with back taxes), investment, and checking accounts.

Also in 2009, Rangel opposed legislation that would have stopped $2.9 billion (yes billion) in tax money that would go to bailout a rum company in the US Virgin Islands. Naturally, he received campaign monies related to the deal.

And that’s just the stuff we know about. This man is the perfect example of everything that is wrong in Washington. He’s been in office since the 70s, it’s time for him to go.

Wikipedia has more about all his bad deeds.

Be Sociable, Share!

  By 		The Weakonomist is the founder of Weakonomics. Clicking the picture of the puppy will tell you more about him. If you like what you're reading consider subscribing to the blog, following him on Twitter, and checking out the related posts below. Please consider a donation if you really enjoy Weakonomics. Also keep in mind that nothing I say can be construed as financial advice.

categories: government, weaky