Legalized Tax Cheating? The Proposed "Rangel Rule"

Now this is a piece of legislation that we all should get behind.Congressman John Carter (R-TX) Has introduced a bill that would put Americans on the same level as our leaders. Its called the Rangel Rule, named after one of the may scandals that Congressman Charlie Rangel was involved in, forgetting to pay taxes. It is the same thing that new IRS Boss, Treasury Secretary Geithner is famous for.  Under Carter's proposed legislation, if you are late in paying your taxes, all you have to do is write "Rangel Rule" on the tax return (with the back taxes), and you will be immune from interest and Penalties. Gee, thats the perfect legacy for Charlie Rangel.  More below:

IRS Penalties and Interest Eliminated for All U.S. Taxpayers under new “Rangel Rule” Legislation

(WASHINGTON, DC) – All U.S. taxpayers would enjoy the same immunity from IRS penalties and interest as House Ways and Means Chairman Charles Rangel (D-NY) and Obama Administration Treasury Secretary Timothy Geithner, if a bill introduced today by Congressman John Carter (R-TX) becomes law.

Carter, a former longtime Texas judge, today introduced the Rangel Rule Act of 2009, HR 735, which would prohibit the Internal Revenue Service from charging penalties and interest on back taxes against U.S. citizens. Under the proposed law, any taxpayer who wrote “Rangel Rule” on their return when paying back taxes would be immune from penalties and interest.

“We must show the American people that Congress is following the same law, and the same legal process as we expect them to follow,” says Carter. “That has not been done in the ongoing case against Chairman Rangel, nor in the instance of our new Treasury Secretary Timothy Geithner. If we don’t hold our highest elected officials to the same standards as regular working folks, we owe it to our constituents to change those standards so everyone is abiding by the same law. Americans believe in blind justice, which shows no favoritism to the wealthy or powerful.”

Carter also said the tax law change will provide good economic stimulus benefits, as it would free many taxpayers from massive debts to the IRS, restoring those funds to the free market to help create jobs.