Representative Rangel Objects to the Geitner Deferral Plan Advocated by eGrumps on May 18, 2009.

(Washington D. C. May 21, 2009)(exclusive to e-Grumps)

Representative Charles Rangel (D – NY) expressed strong objection to the Geitner Tax Deferral Plan suggested by eGrumps on May 18, 2009.  Rep. Rangel, among other things, failed to report taxable income of about $75,000 earned from rentals in the Dominican Republic. He stated that it simply was not fair to have a “Geitner Deferral” without offering taxpayers the right to have a “Rangel Deferral.”

In a confidential email leaked to the press, he stated that felt it was only fair that taxpayers have the right to defer payment of taxes for the same period of time that he deferred the payment of taxes he owed, plus interest, but no penalties. Taxpayers should be given the choice of using either (i) no deferral, (ii) the Geitner Deferral (see eGrumps of 5/18/09) or (iii) the Rangel Deferral.

What’s fair is fair, he said and why should Mr. Geitner get all the name identification publicity when he had done the same thing – not pay taxes that were due. Congressman Rangel stated he would have the House Ways and Means Committee, which is responsible for introducing tax legislation, draft the appropriate amendment to the Tax Code. Congressman Rangel, being the Chairman of the House Ways and Means Committee, felt the legislation had a “reasonable chance” of passage.

Neither Rep. Rangel nor Sec. Geitner could be reached for comment. eGrumps, as always, could be reached for comment. He thought Rep. Rangel was not out of line with his complaint. As long as he was going to cheat on his taxes, he should be given the same opportunity to benefit as every other government employee who cheats on his taxes, if, of course, there are any such other governmental employees.

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