In the latest news from Washington, D(estroy) C(apitalism), Pres. Obamanable is going after corporations and individuals who evade (legally avoid?) taxes by using foreign tax havens.

But this blog isn’t about that nonsense, it’s about what Rep. Charles Rangel (D) said about it:

“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,” Rangel said.”

This, coming from a legitimatized criminal–er, I mean politician–who less than one year ago was being investigated for REALLY evading taxes (under the guise of “Gee, even though I’m a member of Congress that makes Federal laws, I didn’t even know a basic Federal tax law that requires all U.S. citizens to pay taxes on income made outside of the country.”)

“Rangel had been accused of failing to report income from the rental of a villa he owns in Punta Cana in the Dominican Republic, [a] unit that has been rented out for as much as $1,100 per night…Lanny Davis, Rangel’s attorney, disclosed that Rangel had failed to report $75,000 in income he had received for renting the condo on his tax returns or in congressional disclosure forms. His accountants were calculating the amounts owed and would be filing amended city, state and federal tax returns to cover the liability for back taxes.”

[Do you think that if any of us committed this "oversight," we'd just be paying the back taxes WITHOUT DOING A JAIL TIME TOO--or at least paying severe penalties?]