Freedom Line Blog

You just can’t make this stuff up.

Democrat Congressman Charlie Rangel, in conjunction with Senator Max Baucus (D – Montana) has introduced a bill targeting tax evasion by Americans, of all things.  And even more ironically, Rangel’s bill targets offshore tax evasion.

This is the same Charlie Rangel who shamelessly failed to report up to $780,000 of his own overseas income, and is currently attempting to dodge a thorough investigation into the matter.  Under his legislation, overseas bank customers would suffer a punitive 30% tax on income from domestic assets unless their banks agreed to disclose the identities of American customers and report their annual balances and account activities.  Proponents claim that it would raise some $8.5 billion more for spendthrifts like Rangel and his Congressional cohorts to waste away.

Here’s an alternative:  why not simply itemize the outstanding tax liabilities of Charlie Rangel, Tim Geithner and the rest of Congress and the Obama Administration?  Perhaps that would make $8.5 billion seem like peanuts by comparison.