Sunday, October 18, 2009

A Cautionary Tale -- Make SURE you Pay Your Taxes (unless you are Tim Geithner, Charles Rangel, or otherwise have connections) . . .

In honor of last Thursday's tax deadline, I thought I would post a link to an interesting blog article I just came across depicting the harsh, Sovietesque consequences of tax evasion experienced by a couple in New Hampshire in 2007.

A thought-provoking juxtaposition is brought to the forefront in how Timothy Geithner, in the hearings for him to be instated as Secretary of Treasury earlier this year, received hardly a slap on the hand for his neglecting to pay Medicare and Social Security taxes for several years. Congressman Charles Rangel (D-NY), Chairman of the House Ways and Means Committee (ironically, the very entitee that oversees the taxation of the American populace) neglected to pay taxes on $75,000 in rental income from properties he owns in the Caribbean. Was Rangel unaware that this income was taxable according to the IRS code?

Read more here.

I can't say I am an advocate of tax evasion, and the Brown's of New Hampshire surely could have anticipated severe government action against them (especially after the infamous attack on armed American citizens at Waco, TX in 1993) for their acts of non-compliance and out-right disobedience.

But why is it that we hear account after account of government officials, including cabinet members selected by President Obama, with "inconsistencies" in their histories of paying taxes, with no such harsh reprimands being levied? Why are raids, jailings, and seizure of property reserved for everyday Americans while those with connections are given the benefit of the doubt?

For some possible answers to these and more questions, I suggest you take some time to view the documentary America: Freedom to Fascism made by acclaimed filmmaker Aaron Russo.

Lastly, as I ponder the personal financial life of Congressman Rangel in all its fraudulent (and/or negligent) glory, I am not comforted in the least that he is the one of the very individuals overseeing the monetary aspects of the health care reform bill.

Are you?

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