January 18, 2009

The Problem I Have With Timothy Geithner

Timothy Geithner, Obama’s pick to head the exact same agency that is responsible for overseeing the IRS, is caught having… not paid back taxes for a nanny he employed

“…employed a housekeeper whose employment authorization document expired about three months before she stopped working for them in October 2005, according to a written statement from the Senate Finance Committee.

Later, the housekeeper, who is married to a U.S. citizen, was granted a green card, transition officials said.

The second concern involves Geithner’s taxes while he worked for the International Monetary Fund (IMF). According to a statement released by the committee, Geithner failed to pay self-employment taxes while the IMF paid him from 2001 to 2004.

In 2006, the Internal Revenue Service audited Geithner for tax years 2003 and 2004, and he paid $16,732 for the taxes and interest for those years, the statement said. After Obama nominated him for treasury secretary, Geithner voluntarily amended his taxes for 2001 and 2002, paying $25,970 for those taxes and interest, the committee said.”

The press and Obama team response? It was an “honest mistake.” That’s it… just an “honest mistake.” Nothing to see here, move along. Yes, we know it’s a powerful position to hold, but these financial times REQUIRE someone be seated quickly, so just pay no mind to this “honest mistake.” Again, never you mind that he “employed a housekeeper who became an illegal immigrant while working for him. And Geithner did not pay self-employment taxes for several years until the IRS audited him.” …and to the tune of around $30,000 no less.

Where was this same forgiving mindset when it came to illegally investigating an unassuming citizen, whose only crime was to ask Obama a question about redistribution of wealth? You see, this citizen, Joe Wurzelbacher, a.k.a. “Joe the Plumber,” was found to have owed back taxes in the grand total of about $1,200. It was reported by ABC, CNN, MSNBC, CBS, the New York Times, and every other outlet you could find, and there was nobody cutting him any slack. In fact, if you Google “Joe Plumber Owes Back Taxes,” you get 31,000 results. The self-righteous indignation on MSNBC alone was galling.

And just what grand political appointment was Joe Wurzelbacher about to take? Not a damn one. Yet when Obama’s appointment Timothy Geithner as Treasury Secretary is found to have owed more than $30,000 in back taxes, I find only a little more than 8,000 Google hits on that one. You mean to tell me that the man who is positioned to take the helm of one of THE most powerful agencies cannot even comply with that agency’s measures, and it’s only an “honest mistake?” Yet a single citizen who is being appointed to nothing, who owes back taxes, and suddenly it is worthy of denigration by the entire Democrat political machine (which includes the MSM)?

Folks, this is why Obama will get what he wants, as will the Democrats in Congress. That is, unless, the GOP gets off their collective asses and makes themselves heard. But I’m not counting on it. They have recently shown a level of emasculation like I’ve never seen. The whole lot of them appear to be ball-less, and I’m ashamed of them. Conservatives will continue to mobilize in exile, and the GOP better pray that we don’t leave them.

  • Kavar

    Just a minor correction: They're not unpaid taxes for a nanny he employed. They're unpaid payroll taxes for him employment at the IMF (where they don't automatically take them out of your check). The housekeeper is here on an expired Visa. Just wanted to clear that up. Oh, and for “Joe the Plumber,” even if he had the money, and got his small business, if he knew how to handle his taxes (or had an accountant), he would likely pay less taxes under the Obama plan. Never sure why he actually got any press time, it wasn't worth it for anyone.

    • http://MsUnderestimated.com MsUnderestimated

      My quote about Geithner's problem came direct from the LA Times. So if you have a beef, it's with them. You can click on the link in my quote.

      Secondly, how do you know Joe the Plumber doesn't know how to handle taxes? Also you wonder how he got any press time…. it was leftists MSM who made SURE he got airtime to try to humiliate him, and it only backfired on them all; especially in this specific instance. Karma's a bitch.

      • Kavar

        I don't actually have a beef, though your response seems like you do. I was referring to your wording, “caught having not paid back taxes for a nanny he employed.” Specifically, that it was misleading, and that there were two separate problems. Taxes on his housekeeper is not one of them. I also made no comment on whether Joe the Plumber does or doesn't know how to handle taxes.

  • ltcpmax

    from what I have learned (admittedly from MSMedia) and heard, and what I myself know about tax rules/laws, he is NOT a terrific choice.

    The expired visa (by 90 days) for one of his household staff is, to me, a non issue. Paperwork moves slowly, renewal notices dont arrive, stuff happens. I would expect a senior level government official to know better, but heck. Immigration, Customs, Border Protection is a busy agency.

    HOWEVER, the tax issue, for a guy that has apparently spent his entire adult working live in the world of banking, finance, taxes is a serious breech of ethics, responsibility, and TAX LAW. What I really dont like is he “forgot” to pay his self employment taxes for several years, despite reported multiple written reminders from the IMF to their independent contractor “employees” such as Mr. Geithner. So, he has someone determine he has in fact NOT paid back taxes as required for 2004. He pays up. He forgets, or his inept accountant “forgets,” and he doesn't do the proper and common sense thing, and check the tax records for those other years right before that in 2002-2003. and now, OOPS, he is nominated for a cabinet post, and we find out he “forgot” to pay taxes on two other years income, but he has now suddenly paid up.
    THIS guy is nominated to be the NATION's accountant. The NATION's TAX ACCOUNTANT. And he either cannot hire competent staff to do his own taxes, or he is too stupid to do his own taxes properly. EITHER WAY, his judgement to select staff seems badly flawed, and or his attention to little details, LIKE TAX PAYMENTS AND PERSONAL INCOME AND CHECKING AGAIN AFTER FINDING ONE ERROR,

    Poor ability to supervise staff
    Poor ability to select staff (accountant)
    poor understanding of a basic tenet of American life : TAXES!
    very poor attention to detail.

    POOR CHOICE FOR SECRETARY OF TREASURY.

  • http://MsUnderestimated.com MsUnderestimated

    To all the commenters who rightly corrected me on the transgressions of Mr. Geithner, I have made the appropriate changes above.

  • http://MsUnderestimated.com MsUnderestimated

    To all the commenters who rightly corrected me on the transgressions of Mr. Geithner, I have made the appropriate changes above.

  • http://MsUnderestimated.com MsUnderestimated

    To all the commenters who rightly corrected me on the transgressions of Mr. Geithner, I have made the appropriate changes above.

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