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.
But Haines, referring to a Sept. 9, 2008 New York Times article that alleges Rangel hasn't paid taxes on some of properties, questioned the New York congressman's moral authority.
"With all due respect Congressman, when you talk about violating the public trust, you've had some tax issues of your own," Haines said.
"Well, I wouldn't think that you know what they are since what I did or did not is being investigated by a committee, by me," Rangel said. "So what you're doing is reporting on what a reporter says because you have no clue as to what problems, if any, I have."
Haines pressed on and asked, "So all of the reports in the press were erroneous?"
"All of the reports in the press have been sent to a congressional committee that I asked to be sent to," Rangel said.
Rangel dismissed Burnett's suggestion that he step aside from setting tax policy while under the investigation of his tax payments was going on.
"I don't pay too much attention to irresponsible reporters who report inaccuracies that I know are going to be, in the final exam, be exonerated," Rangel said. "If every time a reporter decides that they want to attack someone, whether they call it taxes, whether they call it ethics, and that person has to step aside, we can find reporters really governing the House of Representatives."
Burnett asked if Rangel would deny claims that he failed to pay interest on his mortgage in the Dominican Republic, that he reported $75,000 in rental income from the Dominican Republic villa and that he didn't have two residences and take a rent stabilized apartment in New York.
"You know, if I tell you that if at the end of the day I will be exonerated of these charges, you're just going to ask the questions over and over," Rangel said. "I am telling you that you have to have some confidence in the House Ethics Committee, where we have Republicans and Democrats. I'm not telling you anything, except accusations, false accusations have been made by a reporter and picked up by other reporters and find people like you asking me questions, where the only thing that you have is not that anyone except the reporter has said it."
Rangel continued to maintain that just the accounts of the fourth estate are not enough for him to take the accusations seriously and step aside.
"There hasn't been any government agency that has looked at this," Rangel said. "And so reporters are reporting on reports asking me questions. In order to eliminate all of that, I sent it to the ethics committee."
Editor at Large
Comments Policy
Guilty.
March 19, 2009 - 14:08 ET by In ExcessI'm not a lawyer, nor a politicain but common sense says he's guilty if you just listen to his non-answers.
What'd he say? Guilty? Thought so!
March 19, 2009 - 14:44 ET by jazboThose who believe in nothing will believe anything.
How about a 90% tax on Rangel's "fourth estate."
March 19, 2009 - 14:11 ET by Gary HallI don't remember the last time I so much enjoyed an interview on NBC. I wonder if heads are going to roll?
Now. Thinking back on stories reporters broke, like Wilson/Plame, international wiretapping, Koran flushing at Gitmo, etc. - oh, imagine the suffering all of these loud mouth Democrat folks went thru not being able to comment on the many stories, because it was reporters reporting the story.
"Rangel continued to
March 19, 2009 - 14:14 ET by Chris Norman"Rangel continued to maintain that just the accounts of the fourth estate are not enough for him to take the accusations seriously and step aside."
Yet, I'm sure, like other Democrats, just an accusation in the media is enough for him to demand that a Republican resign or be expelled - with the media cheering him on. By the way, I like how he speaks of his scandal like it was happening to someone else and he has nothing to do with it.
The "Mainstream" Media: By liberals. For liberals.
Chris...
March 19, 2009 - 14:22 ET by bigtimerI am sick and tired of seeing or hearing faces like Dodd, Barney, Rangel, Schumer...they are the problems not the solutions...and should be out of congress by force, let alone be behind bars...instead they are all over the msm spewing their filthy leftist bull.
Rangel got his way...the House had to have a 2/3 vote to impose an Unconstitutional tax on individuals who receive bonuses at 90%...85 re pubs voted for this...unbelievable.
Don't do the right thing, do the expedient thing...
March 19, 2009 - 14:27 ET by Chris Normanbt,
As usual, cowards they are, the weak Republicans are scared poopless that if they don't go along with the crazy liberal lynching mob they'll be attacked...
The "Mainstream" Media: By liberals. For liberals.
Duck and Cover
March 19, 2009 - 17:37 ET by GalvanicYou're right, bigtimer. Rangel and company wanted to show the public that they too are outraged, because they need to cover up their own sins
1. They never read the language in either the Stimulus Bill or the Omnibus Bill -- language that exempted executive compensation like the AIG bonuses. The lying worm Dodd admitted to adding the language after denying only 24 hours earlier that he had anything to do with it.
2. Democrats love taxing to death those people and organizations they don't like or actually fear; and if you stand up to them, watch out for that IRS audit. However, as we've discovered since Obama's Inauguration, they don't like paying their own taxes. The fact that Rangel retains his Chair of Ways and Means is a signal to Party membership that they need not worry about tax transgressions. (Kudos to CNBC for pressing the issue with Rattlesnake Rangel.) The message to the American public: Let them eat cake!
3. As the President has let slip on occasion, tax policy will also be used to redistribute wealth. His fellow travellers would call this "economic justice," or even "social justice." Whatever they call it, it's un-American.
Non-syntactic gibberish
March 19, 2009 - 14:19 ET by Joe BlogsCharles Rangel is spouting non-syntactic gibberish. His brain is a mess.Get the man a teleprompter.
Hey Charlie
March 19, 2009 - 14:21 ET by Tom in NCWhy don't you tell her to mind her own g*ddamn business, you pompous bastard.
http://www.youtube.com/watch?v=rdtFWCrCh0s
Rangel is a corrupt
March 19, 2009 - 14:23 ET by Scuba DudeRangel is a corrupt scum bucket who should be thrown out of office then be thrown into JAIL!!!!
thrown out? no way
March 19, 2009 - 16:15 ET by SickofLibsHis loyal 'constituents' will keep re-electing him until he's laying on a slab. He meets the only criteria they care about.
Poster boy for term limits
March 20, 2009 - 11:17 ET by misterbee241Thus another good reason for term limits.
"I dont need to read a newspaper to know the world's been shaved by a drunken barber."
Walter Brennan, The Colonel, Meet John Doe, 1941
exonerate this.
March 19, 2009 - 14:27 ET by katainkentthis man is merely another one of the parasites that needs to be driven from congress.
Charlie Rangel's Tax Woes
What does this say about...
March 19, 2009 - 16:05 ET by Mr XWhat does it say about the "people" who keep electing him?
any blame there?
Embarrassing.
One of the main things we've
March 19, 2009 - 14:28 ET by snaggletoothieOne of the main things we've learned since Obama has been president is that Democrats with any kind of an 'in' with those in power feel that they can ignore our tax laws with impunity. Rangel, having so much power to abuse, is an extreme case.
So they waste more tax
March 19, 2009 - 14:38 ET by oldArmySo they waste more tax dollars voting to tax the hell out of bonuses that should have not been on the bill in the first place.....
CLASSIC CONGRESSIONAL BS
TERM LIMITS!!!!
There for all to see: The Idiocy of the Liberalism and the Dems
March 19, 2009 - 14:50 ET by krendlerIt's truly amateur hour in Washington these days with the Dems in charge of everything.
- Fight regulators and Republicans on the Freddie and Fannie Disaster-in-the-making, heaping praise on Franklin Raines.
- Fork over billions to AIG.
- Obama and his lackeys express indignation and try to drum up as much outrage as possible with the American people when AIG executive bonuses are revealed.
- Backpedal like crazy when it finally comes out that Obama, Dodd and company are the very people who signed off on these bonuses. They knew about it all along (Imagine if Bush/Cheney had pulled a dishonest stunt like that....).
- And, finally, the imbeciles in the house pass a "bonus tax" bill to take the back money back from the big bad executives.
Talk about incompetence.
Talk about abuse of power: "Well, hell. We're in charge. We'll just pass another LAW saying that we're taking the money back. That will get us around that nasty legal contract thingy."
Truly embarrassing and scary to watch muddle-minded idiots like Obama, Dodd, Barney Frank and Maxine Waters running the country. Hey, but we've got the black president and feel good moment that everyone so desperately wanted....And Michelle is finally proud.
Rangel is a corrupt lying sonofabi-ch
March 19, 2009 - 14:51 ET by Lord ErondIt's being investigated. What a lying sack of garbage. This man should not only be impeached but thrown in jail for his abuse of power. Him, Dodd, Frank, and the rest of this dog and pony show.
"To sin by silence when we should protest, makes cowards of men" -Ella Wheeler Wilcox
Impeached? Jailed?
March 19, 2009 - 16:09 ET by Mr XI can think of justice for people like them, but impeached and jailed don't come close.
I think it's time to lock and load
March 19, 2009 - 14:56 ET by Lord ErondThank God for the second amendment.
"To sin by silence when we should protest, makes cowards of men" -Ella Wheeler Wilcox
Don't thank him too long...
March 19, 2009 - 15:07 ET by unkeeafIt may be gone tomorrow.
MSM = PR firm for the Democrat Party
Want to truly give the left diarrhea?
March 19, 2009 - 14:59 ET by Lord ErondEveryone should go out and purchase one of those fake plastic rifles with the orange plug on the barrel so it's obvious that it's fake. We then stage a million man plus march on the mall in Washington as a protest. We carry signs that say "Imagine if this were a real weapon" Proceed to laugh our asses off as they realize that the revolution could happen just like that.
"To sin by silence when we should protest, makes cowards of men" -Ella Wheeler Wilcox
The way I read this he is
March 19, 2009 - 15:01 ET by AcrosThe way I read this he is investigating himself. How is that possible. I've got a feeling how it will turn out though...
Dead Girl Live Boy
March 19, 2009 - 15:02 ET by slickwillie2001Charlie is black and in a hugely-democratic district. Even if he is indicted and found guilty of something, he would probably be re-elected in his prison cell. Look at Marion Berry, John Conyers, and Alcee Hastings. A criminal record seems to be a resume enhancement for democratics.
If the government is allowed to get away with this illegal act..
March 19, 2009 - 15:08 ET by R D Helm...none of us will be safe.
BTW-We the sheeple are being scammed. Those AIG bonuses were Obama's.
Keep an eye out for another middle-of-the-night vote on something that just "has to be passed right now, or else" frauds.
-Dave
This coup has gone on long enough. The time to put it down is NOW.
Dave...
March 19, 2009 - 15:30 ET by dborschjr68It's when DC pulls crap like this that I seriously believe that this current administration has ceased being just another nuisance, but a real, true threat to America.
It is now far, FAR past the time when we, as Americans, sit by idly and post our comments on sites like this. God bless NB, to be sure. I personally look to this site as my portal into the MSM's world of corruption and cheerleading. However, having said that, I also realize that expressing my opinion on this site doesn't actually involve me in the affairs of our country like I should be.
This event, this passing of legislation to TAX PRIVATE CITIZENS above and beyond the norm is huge. When you comb through the rhetoric and the smoke screens put up by the MSM, you will see this is a direct violation of the US Constitution.
Now it is getting seriously dangerous. This is not a joke anymore. This administration needs to go. They all need to be removed, every last one of them. I could care less about (R) and (D) right now. Those are letters you put after your name to play the political game, nothing more. They mean nothing.
Dave, do you see the enormity of this newest act from Washington? It boggles my mind that America isn't furious and pissed and angry and ready to storm the gates. I ask this not because I think you are a dullard, no. I'm simply venting, so please bear with me here.
How many posts can be posted here wherein the posters make witty comments about Obama and his ilk, but that's about it? There are hundreds of stand-up comics out of work, and people come here to tell jokes for free. This man and his sycophants need to be stopped.
I wonder if anyone sees the extreme danger we are in as Americans?
...okay. I'm done venting. Thanks, Dave, for allowing me to jump on your post and say all this. And to anyone who would comment on this, please feel free to give me your guidance on how I can better direct my anger in a constructive way. I am familiar with the We Surround Them movement, and the 912 Project. I am familiar with the very cool Tea Parties and the stir they have caused.
But is that it? Is that what we have right now? We need to simply get corrupt politicians to "sign on" to the "principles and values" espoused by Glenn Beck, and then the country will magically turn around for the better?
...yeah, I need a breather. Thanks for reading, y'all.
======================
To the MSM: It has been said that, "The pen is mightier than the sword". So I'll tell ya what- how's about you hold onto a pen and see if it stops me from slapping your face. I'm just sayin'...
dborschjr68, Some say the wheels are falling off Obama's train..
March 19, 2009 - 16:40 ET by R D Helm...I disagree. I think their plans are rolling right along just as they had hoped.
They are using the time honored methods of totalitarians throughout history, in that they are providing constant distractions to keep the people's attention away from what is really happening. This whole AIG bonus scam is just one of them.
Yesterday, while everyone was getting their underwear in a bunch over the AIG "scandal," the congress critters quietly passed this latest atrocity:
http://hotair.com/ar...
Did you see this reported anywhere? Me, neither.
Like you, I don't think most people, including many of my friends here at NB and over at HotAir, really grasp the urgency of the situation.
Tea parties and the like are all well and good, as they indicate that people are at least beginning to pay closer attention, but at the end of the day, will they really make a difference?
I say no.
Obama and his socialist horde are very rapidly getting everything they want, and despite some posturing on the part of a few conservative congressmen, I don't see that changing any time soon.
The republicans just don't have the votes. Hell, they may as well not even be there.
Everybody seems to think all we have to do is wait for 2010 and vote them all out, and disaster will be averted. Nonsense.
We don't have until 2010 to stop this crap. By then, the socialists will have everything under government control they are really after. What little that remains of free-enterprise will be left whither on the vine, or be regulated out of existence later on. There is a point beyond which that cannot be reversed. I think we are far closer to that point than many seem to think.
I am also hearing some radio chatter today that the Obamanistas are preparing a major power grab, one that could allow them to make an end-run around congress and nationalize any banks they feel are a threat to the stability of the financial system.
I can see all kinds of abuses just waiting to happen with that.
What a colossal mess.
-Dave
This coup has gone on long enough. The time to put it down is NOW.
Dave, I agree with you.
March 19, 2009 - 17:12 ET by celatorDave, I agree with you. It's past time to start worrying about it. It's here.
I'm looking for Obama to set off a false flag situation that will embroil us in a brief conflict or short war. I had much earlier predicted a March time frame for this, but now lean toward an April, early May event. Obama's popularity has to drop a bit more before they use that little tool. It will come at a time when Obama's stooges try to pull off a huge violation of our civil rights or a majority of citizens are raising HE double toothpicks about something outrageous he's done.
I suspect there are several possible false flag events Obama and his people have in mind, but it seems to me right now the Southwest border is a likely spot. Drug cartels coming across the border firing AK 47's type of thing and we have to respond etc. The Mexican Army has recently been positioned there by the thousands, so there might be something involved with them. Who knows, but it's coming. There may be more than one at a time to really stir up chaos. The more I think about it, that seems likely to me. But I'm just guessing.
The Government cannot give to anybody anything which the government does not first take from somebody else. Dr. Adrian Rogers
what would you have us do?
March 19, 2009 - 17:48 ET by candanceYou left the other night without giving me an answer.
I'm starting to agree with Glenn Beck. You don't want an American revolution, you want a French revolution.
RD.......have you seen this?
March 19, 2009 - 19:57 ET by justathotThe left was constantly whining about our freedom to privacy during the Bush years......are they concerned about this? If this bill passes along with the new attempts to stop conservative talk radio, we are in big trouble.
It's just another example of what you are sounding the alarm about in your post. The thing is, I haven't heard about this in the media. I stumbled upon it by accident. Maybe it's been out there and I missed it. More likely, as you point out above:
They are using the time honored methods of totalitarians throughout
history, in that they are providing constant distractions to keep the
people's attention away from what is really happening.
You are right when you say most of us don't grasp the urgency of the situation. I think that's because most people think Obama and Company are just clueless and inept, when really, as you point out, they know perfectly well what they are doing.
There are also some who 'get it' but won't admit it. Nobody wants to be percieved as being in the tinfoil hat crowd. <(:-) Then of course there are the drunken KoolAid drinkers.
Which leaves a few who do grasp the clear and present danger----they just don't know what to do about it. Tea parties and pig roasts aren't the answer.
Our best hope is that more of our legislators begin to wake up and put this country first instead of their own agendas. Perhaps Sen. Evan Bayh and the group of moderate Democrats that are forming a new caucus will stand up to these socialist thugs.
Sorry about all this space below......can anyone tell me how that happens? It has happened to me twice now and I can't figure out what I'm doing to cause it!
Garry Pasciucco
March 19, 2009 - 15:10 ET by slickwillie2001And by the way, if you are wondering why democratics in Congress would get bigtime campaign donations from AIG, and why they would do what it appears they have done to try and protect AIG bonuses, when they are probably a bunch of Republican rich fat-cats, check out this picture of Garry Pasciucco, current head of AIG's Financial Products group. This is the group that created the goofy financial instruments that greatly amplified the effect of failing subprime mortgages:
http://littlegreenfootballs.com/article/33089
Ranglin' Rangel
March 19, 2009 - 15:46 ET by Piece_of_Class..."black and in a hugely-democratic district..."
Can you say $90,000 stuffed in a freezer, anyone?
April 15 cannot come soon enough
March 19, 2009 - 16:21 ET by candanceI'm so livid over this nonsense I'm tempted to drive up to DC tomorrow and do something obnoxious.
Obama's clever little "apology" on Leno did more harm than good. Instead of confronting corruption and boobery in his own party, he absolved them by taking their sins upon himself, leaving the audience with a satisfied feeling that someone apologized, but leaving all of those boobs to carry on in Congress. No consequences for anything. No discipline. No worry that Obama will call them out or ask them to leave their committee leadership.
Not another word about Bush being too lazy to discipline FEMA.
So let's recap. Chuck Rangel got himself in charge of investigating his own charges. Timothy Geithner had to admit that nobody knew about an obvious amendment in the bill. Chris Dodd was playing dumb about his own legislation until a bunch of bloggers caught him.
And what was Obama doing while these seeds were being sown? Oh yeah, he was whining about Rush Limbaugh.
If Obama wants Rush to stop talking about failure, then maybe he should just stop failing.
"I sent my own case to the Ethics Committee"
March 19, 2009 - 16:24 ET by SickofLibsOne of THE most arrogant m-effers in Congress. He doesn't give a crap; even if the ethics committee did their worst to him, he'll still be re-elected by a landslide.
The only things he's missing are a powdered wig, a lace handkerchief, a gold snuff box and a horse-drawn coach.
This may work... A Demand
March 19, 2009 - 17:06 ET by Clear thinkerThis may work... A Demand For Congress…
Making Fun of AGW http://giovanniworld.wordpress.com/
There needs to be some Agency
March 19, 2009 - 17:00 ET by doug1950that answers to no one but the American people. I for one want to just say to Washington. "Okay, Ive heard and seen enough, give us the damn keys, get out and get in the back. You have wrecked enough havoc to last the nation a millinium." When the PoTUS appoints and controls the AG, the FBI and any agency that could investigate, rein in and prosecute people like Rangle, Dodd, Dingy Harry, Pelosi and others but does nothing we are in some deep sewage.
While the Dems richochet from side to side creating mahem, the GOP is busy looking at the place cards at the lunch table. You haven't heard a peep out of the Repubs except a few. Those in "leadership" are once again AWOL. I got a call from RNC last night again, some young guy reading his script to me. He was going on about what all Steele was doing. I waited then corrected him on what all Steele HAD done, then what he was not doing and told him it would be a cold day in the BAD place before I joined the RNC again or gave any $$.
Beyond disgusted
March 19, 2009 - 17:37 ET by Kat Outta the BagI'm seriously up to HERE with politicians...every last stinking one of 'em!
Save me...save me from tomorrow. I don't want to sail with this ship of fools.
~World Party
Just to be clear and above board...
March 19, 2009 - 19:05 ET by c5thenU.S. constitution.
Article I, Section 9: Limits on Congress
The taxation of bonuses of specific persons after they have already recieved such bonuses as per their contracts of employment is both a bill of attainder and an ex post facto law at the same time. Every member of the House who voted for this bill is guilty of violating their oath of office and should be impeached.
Hey, I got the wrong "CHANGE"!
www.loyaltoliberty.com
Dumb Americans and the AIG Bonuses
March 19, 2009 - 20:07 ET by PopularTechAll these idiots calling into radio shows crying about AIG Bonuses when they have no remote concept of how a corporation is run, don't understand contract law and are absolutely clueless about what they are demanding from the government. Do we really want the government dictating bonus pay based on an idiotic jealous mob mentality? Not only are some of these "bonuses" part of regular employee compensation, they are contractoral obligations and others paid to newly hired execs who are managing the de-leveraging. But that doesn't stop the dumb American from crying about their ignorance.
The real problem isn't the bonuses, it is the bailouts to begin with. Keeping AIG in business allows the government to launder money through them to every financial institution that made bad decisions and did business with AIG.
This populist rhetoric of attacking corporate compensation because it is "unfair" to the average dumb American who does not have the mental capacity to run a hot dog stand is so tiring.
The AIG Mob Mentality (Reason Foundation)
Carbon Dioxide (CO2) is Not Pollution
Is CNBC trying to get Shutdown?
March 19, 2009 - 20:43 ET by Free StinkerAt this rate, the Demoncrats are going to apply the unfairness doctrine to CNBC 1st, ahead of talk radio even.
"Gov. Palin has been subjected to one of the most massive and dishonest pile-on smear attacks in the history of liberal media." -- Lowell Ponte
Multiply him by
March 19, 2009 - 23:40 ET by RR GOPMultiply him by thousands. That's why we're in the fix we're in economically from city government all the way to the top.
And, while they're playing politics and lining their politics, our Muslim terrorist friends are planning our deaths.
And they'll still be in power after they bury the corpses with great pomp and solemnity.
One of the 34% who thinks George W. Bush was a great President. One of the 61% who wants to bring back the stock and pillory (yep...approval for Congress now at 39%...do you believe that!?).
We all know...
March 20, 2009 - 11:16 ET by misterbee241And we all know there are no guilty people in prison - just ask them.
"I dont need to read a newspaper to know the world's been shaved by a drunken barber."
Walter Brennan, The Colonel, Meet John Doe, 1941