House Ways and Means Committee Chairman Charles Rangel has filed new disclosure documents revealing his net worth is double what he originally said it was. The Democrat from New York is already under investigation for various tax and financial issues.
Rangel's amended disclosure forms include previously undisclosed assets worth as much as $780,000 — including an omitted checking account worth up to a half-million dollars, unreported investment portfolios of up to $50,000 and another fund of $100,000.
The New York Post concludes Rangel failed to reveal $3 million in various business transactions between 2002 and 2006, including up to $1 million from the sale of a Harlem building that city records show Rangel still owns. Rangel's office told The Wall Street Journal he is now confident the amended records are accurate.
Rangel is a disgrace. I mean, here's a chairman of the House Committee on Ways and Means whose already under investigation for possibly breaking House ethic rules. Then again failing to pay taxes should make him ripe for an appointment with the Obama administration.