Wednesday, January 14, 2009

US Senate: no need to pay your taxes

From the MRJs Richie Rathsack:

SOUTHINGTON - The Internal Revenue Service is looking into the reimbursement of volunteer firefighters.

Don't worry though. The IRS is an arm of the Treasury. And the new boss for Treasury*, Timothy Geithner, believes that you don't need to pay your taxes. So maybe he'll be eliminating the income tax? Ha! He's important. He plays by a different set of rules.

Here's yesterday's story (AP, by Julie Hirschfeld Davis) on Geithner and his failure to pay taxes reportedly wasn't all that bad:

He failed to pay self-employment taxes for money he earned from 2001 to 2004 while working for the International Monetary Fund, according to materials released by the committee Tuesday.

I have my taxes withdrawn. But working for a non-US organization, I can see them not withholding taxes. And I could see someone mixing up his/her payroll tax, SS tax, FICA tax or some other tax. So I find it somewhat plausible.

But in classic beltway style, the story "evolved" today:

He paid some of the taxes in 2006, after an IRS audit discovered the discrepancy for the years 2003 and 2004. But it wasn't until much later — days before Obama tapped him to head Treasury late last year — that Geithner paid back most of the taxes, incurred in 2001 and 2002. He did so after Obama's transition team found that Geithner had made the same tax mistake his first two years at the IMF as the one the IRS found he made during his last two years.

So I guess he just never thought to ask anyone about his 2001 and 2002 taxes?

Kinda reminds me of some words I heard last summer:

"I'm no clairvoyant. There was no red flag to me that we were getting some special treatment." - Chris 'The VIP' Dodd

Tim White

* and co-conspirator in Bush's Billionaire Bankers' Bailout


Anonymous said...

Mr. Obama appoints someone who didn't pay his taxes for four years as head tax collector.

Next thing Obama will do is release terrorists from Guantanamo and put them in charge of domestic security.

Anonymous said...

If Geithner was a Republican, he would never get confirmed; if Holder was a Republican, he would never get confirmed; if Hillary was a Republican, she would never be confirmed if her husband was receiving cash from foreign governments. Come to think of it, if a Republican ran with the kind of ties Obama had, he would never be elected.
The double standard continues to be alive and well.

Anonymous said...

You think maybe if the press hadn't sent all its investigative reporter to Wasilla, Alaska to dig up dirt on a preggo teenaager we might have learned something more useful along the way?

Anonymous said...

RE: "Next thing Obama will do is release terrorists from Guantanamo and put them in charge of domestic security."

In fact, at least 61 of the G'mo detainees released so far have returned to terrorist activities.

Well, duh, this was predicted, but the ACLU and Obama Dems were bent upon pursuing liberal orthodoxy over public safety (echoes of Three Strikes).

How ironic that Obama has pledged to escalate US action in Afghanistan, where some of these US-released terrorists will now be killing US troops.