NY-26: Does Jon Powers Still Want To Keep Rangel’s Dirty Money?
by Matt at Sep 5th, 2008
The New York Times has now reported on Charles Rangel’s ethical lapse in failing to report income he earned on the rental property he owns in the Dominican Republic.
In the aftermath of the 2005-2006 mad rush by members of Congress to square all their travel reports and other required filings, one would think that Charles Rangel, even after his party returned to the majority, would have kept his financial filings on the level instead of trying to hide sources of income.
His ethical lapses are one thing, for sure, but what really got me about this article was his lack of ability to take responsibility for his actions, and instead threw his wife and his accountant under the bus:
[Rangel's lawyer Lanny] Davis said the congressman did not realize he had to declare the money as income, and was unaware of the semiannual payments from the resort because his wife, Alma, handled the family finances and conferred with their accountant, John Viardi, on tax matters.
Pathetic.
But even more pathetic is that Mr. Jon Powers, who claims he wants to change Washington, has yet to return the dirty money he’s received from Charles Rangel. The DNC returned $100,000 they received from Rangel, shouldn’t Jon Powers do the same?
UPDATE: The Associated Press also reports that Charles Rangel paid no mortgage interest on his Dominican Republic villa for over a decade.
The New York congressman’s lawyer, Lanny Davis, told The Associated Press that Rangel got his no-interest deal for the villa in the Dominican Republic because he was an original buyer in the resort development, and in the early days after Rangel’s 1987 purchase the rental income it generated failed to meet expectations.
Punta Cana Yacht Club director Jose Oliva issued a letter stating that they initially charged interest on the loans to Rangel and a small group of fellow investors called “Pioneers,” but after two years the company stopped charging interest because of the lower-than-expected rental income. The removal of interest charges was extended only to the foreign investors, Oliva said.
Earlier in the day, the congressman’s lawyer said Rangel paid no interest at all on the mortgage, but later said company records show there was interest paid in the first two years.
Davis said Rangel did not know until very recently he had not been charged interest for more than a decade.
“Mr. Rangel received no special preference,” said Davis.
The Democratic chairman of the Ways and Means tax-writing committee has come under scrutiny for his vacation property and apartments he rents in his home district of Harlem.
Rangel could only max out - why should those who donate to Powers and want to see him in Congress get their money back if they want Powers to have it?
What would then Powers have to give back - the max amount?