Write 'Rangel Rule' on your tax form.
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Any individual who is a citizen of the United States and who writes
'Rangel Rule' on the top of the first page of the return of tax imposed by chapter 1 for any taxable year shall be exempt from any requirement to pay interest, and from any penalty, addition to tax, or additional amount, with respect to such return.
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Rep. Charles Rangel (D-N.Y.) is facing new questions about why he has not disclosed any royalty income on his 2007 memoir
And I Havent Had a Bad Day Since: From the Streets of Harlem to the Halls of Congress.
While House ethics rules dont require the public disclosure of book contract details, they do require members to report all outside income, including book royalties. The threshold for reporting is $200 for outside earned income.
Since 1995, House rules have prohibited members who pen books from receiving advances. The rules, however, allow regular royalty payments if the ethics committee approves the book deal beforehand.
Rangel left out any reference to the autobiography on his financial disclosure forms so its unclear whether he received any money for an advance or in royalties, or whether the ethics committee approved the deal. The ethics committee and individual members often correspond privately, so the committee may have given him the go-ahead.
Rangels office did not respond to questions immediately.
The House ethics committee is investigating a series of ethics allegations against Rangel, including errors on his tax and financial disclosure forms, the inappropriate use of New York City rent-control laws, and the improper use of congressional letterhead for fundraising purposes for an education center bearing his name.
The Sunlight Foundation pointed out Rangels omission in an investigative report released Wednesday. The nonprofit group, which aims to provide more transparency to government documents, reviewed Rangels financial disclosure reports going back to 1978, the first year members were required to disclose information on their personal finance. The foundation found
28 instances in which Rangel failed to report assets properly.
Assets worth between $239,026 and $831,000 appear or disappear with no disclosure of when they were acquired, how long they were held, or when they were sold, as the operative House rules at the time required, the foundation reported.
A previous incident prompted the House to change its rules to bar book advances. Senators, however, can still accept advances. Newly elected members of Congress also can accept book advances before they are sworn into Congress.
Barbara boxer used to receive large advances to write seedy little dime store romance novels.
Speaker Nancy Pelosi (D-Calif.) did not pocket an advance from a deal with Doubleday for her book, Know Your Power: A Message to Americas Daughters. The book came out last summer so
Pelosi wont have to disclose any royalty information until May, the deadline for filing financial disclosure forms covering the previous year.
Belly laugh of the week:
"The bar that we set is the highest that any administration in the country has ever set." --White House Press Secretary Robert Gibbs
Belly laugh of the week II:
"I didn't come here to be partisan, I didn't come here to be bipartisan. I came here ... to be nonpartisan, to work for the American people, to do what is in their interest." --House Speaker Nancy Pelosi (D-CA)
Pelosi remark about 500 million losing their jobs is sort of like Obama in a campaign speech mentioning the 10,000 people who lost their lives in a Kansas tornado.
Never mind the town only had about 2,000 residents, dang that climate change.
This incident reminds me of the instructions from the head of one of the environmental NGOs, while instructing his field operatives when doing media interviews;
"When you don't know the statistics, just make them up on the spot!!"
And I wonder why I can't get a road map with all 57 states on it.:mega_shok:
