NEWS broke last week that Rahm Emanuel, now White House chief of staff, lived rent- free for years in the home of Rep. Rosa De Lauro (D-Conn.) - and failed to disclose the gift, as congressional ethics rules mandate. But this is only the tip of Emanuel's previously undisclosed ethics problems.
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Emanuel never declared the substantial gift of free rent on any of his financial-disclosure forms. He and De Lauro claim that it was just allowable "hospitality" between colleagues. Hospitality - for five years?
Some experts suggest that it was also taxable income: Over five years, the free rent could easily add up to more than $100,000.
Of course it is taxable income. Anyone can give anyone up to $10,000 a year tax-free, but "gifts in kind" are still required to be reported and are taxable. If it is really $100,000 worth it exceeds the giftable amount and is subject to tax, just as certainly as it is if you get a chauffeured car and driver (aka Daschle)
What's worse though is this:
More
http://market-ticker.denninger.net/archives/807-Does-Anyone-In-Obamas-Administration-Pay-Taxes.html
It's OK, he is a dual citizen
wink, wink, nudge, nudge