What's Hot
07/29/2010 - 17:05

Kerrry boatSen. John F. Kerry has just passed another tax onto wealthy Republicans - by having his wife pay half-a-million dollars in back taxes on his yacht.

Kerry has been docking his $7 million, 76-foot yacht, Isabel, in Rhode Island, which has no yacht tax, since he purchased it in March. However, Massachusetts has a 6.25 percent "use" tax on any item bought elsewhere for use in Taxachusetts. State officers regularly track down those purchasing tires, alcohol, or other consumer goods in neighboring states, such as tax-free New Hampshire.

6,758 reads
07/29/2010 - 11:03

Ben ChandlerThe eight members of the House Ethics Committee sit in judgment on Rep. Charles Rangel (D-NY), but it is hard to see how at least two of them can be impartial when they have received campaign funds from Rangel’s National Leadership PAC.

According to Federal Election Commission records, Rep. Ben Chandler (D-KY), in photo, received two contributions of $5,000 each during the 2004 election cycle, on 12/15/03 and 1/20/04.  Rep. G. K. Butterfield (D-NC) received contributions of $1,000 and $2,000 during the 2004 cycle, on 6/29/04 and  7/13/04 respectively.

4,181 reads
07/28/2010 - 15:27

Sheila BairThe deadline for ShoreBank to come up with sufficient outside capital has been extended again, with the Federal Reserve saying more than $150 million from the likes of Goldman Sachs and Citigroup and $75 million in TARP money aren’t enough to save the politically-connected community lender. Crain’s Chicago Business reports it’s the third extension the Wall Street firms have granted to enable ShoreBank to get its act together, with the new deadline August 6.

4,848 reads
07/26/2010 - 16:57

Franken photoOver the weekend, Senator Al Franken (D-MN) was a keynote speaker at the NetRoots Nation conference in Las Vegas where he said his 2008 campaign was “the most efficient campaign I think in the history of the Senate. We won by 312 votes. We didn’t waste one bit of effort.”

That’s for sure. In December 2009, NLPC President Peter Flaherty wrote:

After a legal battle and a selective recount, Democrat Al Franken was declared the winner over incumbent Senator Norm Coleman (R-MN) by 312 votes. ACORN-endorsed Franken no doubt benefitted from the 43,000 new voters that ACORN and its affiliates claimed to have registered in Minnesota before the election.  Even assuming only half of these people voted, and the level of fraud was only 2%, it is likely Franken would have lost. Of course, ACORN voter-registration fraud rates have been shown to be exponentially higher. For instance, of the 1.3 million new registrations generated by ACORN-affiliate Project Vote last year, 400,000 were thrown out.

3,494 reads
07/23/2010 - 15:00

Google logoThe effort by House Republicans to investigate email practices at the White House hit a wall yesterday, when a motion to subpoena the White House deputy chief technology officer was blocked by Democrats during a House Oversight subcommittee hearing.

Subcommittee Ranking Member Patrick McHenry (R-NC) demanded a recorded vote on a motion to subpoena White House technology officer Beth Noveck, after saying that the absence of a White House witness “undermines the purposes of the hearing and prevents us from doing our job of conducting oversight of this issue.”

3,581 reads
07/23/2010 - 14:34

LSC logoMisuse of Legal Services Corporation funds is nothing new. The most publicized cases typically involve lawsuits by affiliated nonprofit legal groups that run contrary to the LSC charter. Recent months, however, have witnessed a different kind of problem: use of public money for private pleasure. New reports by the Government Accountability Office (GAO) and the LSC Office of Inspector General, plus a lengthy summary article by the Washington, D.C.-based Center for Public Integrity, highlight acts of theft or excessive spending at recipient organizations of LSC funds and a lack of internal controls by top LSC officials. As the Legal Services Corp. budget is currently $420 million, taxpayers have every reason to be concerned.

5,321 reads
07/22/2010 - 19:30

I was interviewed by David Asman on the Fox Business Network on Wednesday, July 21. The topic is the racial mandates contained in the Dodd-Frank financial services regulatory overhaul. Here's a transcript:

3,131 reads
07/22/2010 - 17:10

Rangel photoThe House Ethics Committee announced today that its subcommittee investigating allegations against Rep. Charles Rangel (D-NY) has “transmitted a Statement of Alleged Violation” to the Committee Chair and Ranking Republican, and formed an “adjudicatory subcommittee” to consider them. In other words, they have alleged that Rangel violated House rules, and now another subcommittee will try Rangel and determine guilt and the penalty, if any.

NLPC is the source of the most damaging allegations against Rangel, particularly his failure to disclose or pay taxes on rental income from his beach house in the Dominican Republic. Rangel has admitted that he did not report or disclose $75,000 but we have alleged in Complaints to the IRS and U.S. Attorney for D.C. that the total is likely much higher. NLPC is also the source of the information on which the Committee admonished Rangel earlier this year for accepting corporate-funded Caribbean junkets. Following his admonishment, Rangel resigned from his Chairmanship of the House Ways and Means Committee.

2,937 reads
07/22/2010 - 16:38

General Motors will acquire auto-finance company AmeriCredit for $3.5 billion. I discuss the deal with Rebecca Lindland of IHS Automotive, and CNBC hosts Melissa Francis, Larry Kudlow and Amanda Drury. Here's a transcript:

4,139 reads
Ken Boehm
07/22/2010 - 15:44

McLaughlin photoRecent email communication between White House Deputy Chief Technology Officer Andrew McLaughlin (in photo), who is Google’s former head of Global Public Policy, and multiple outside individuals raise new questions about the official’s alleged circumvention of federal ethics and recordkeeping rules.

McLaughlin’s communications with Google officials and others about issues that directly benefit the company appears to be more extensive than indicated by a May White House report, which resulted in an official reprimand of Mr. McLaughlin. Click here for a 12-page pdf of the McLaughlin emails.

17,925 reads
Syndicate content