Posted on 03/19/2009 3:24:12 PM PDT by Rufus2007
In the wake of the American International Group (AIG) bonus controversy, some have called the plans of congressional leaders to tax those bonuses at a rate of 90-100 percent "legislating with a vengeance."
However, Chairman of the House Ways and Means Committee Rep. Charles Rangel, D-N.Y., insists that doing this is a necessity, despite the premise that retroactively taxing anything is a dangerous precedent. In an interview with CNBC "Squawk on the Street" co-hosts Mark Haines and Erin Burnett on March 19, he explained different rules apply in these extraordinary circumstances.
"When you violate the public trust, different rules apply - the same thing we have in charitable organizations, 501(c)3 when they have excessive payment in certain areas that we're able to penalize them for," Rangel said.
...more (w/video)...
(Excerpt) Read more at newsbusters.org ...
I'll settle for TOTUS right now. The rest to follow.
Rangel said. “I am telling you that you have to have some confidence in the House Ethics Committee, where we have Republicans and Democrats.”
Isn’t the “ House Ethics Committee” made up of politicians?
Rangel is a great representative . . . of everything wrong with the system.
Don't start asking yourself simple questions that alleged journalists should be asking of politicians. It will drive you insane.
bfl
Nonsense, Rangel is investigating news reported allegations of his tax cheating. He will most certainly come up with the TRUTH! He said so!
Yeah, he kept saying it was one reporter that wrote those allegations and the rest of the media repeated that reporters questions.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.