Tuesday, May 5, 2009

Rangel Is Rich

AP reports Pres. Obama wants to eliminate tax deferrals for overseas profits. Not sure, but if it goes through I believe the U.S. would be the only developed nation with such a law.

Meanwhile, Rep. Charlie Rangel had this to say about the proposal:
For too long, our tax laws have rewarded companies that invest and keep their money overseas and turned a blind eye to the use of tax havens by the wealthy.
This from the same dude that put his money in the Dominican Republic, and didn't even pay taxes on it there, let alone in the U.S.