Goodtimepolitics

Geithner Kept Reimbursements For Taxes He Didn’t Pay

Barack Obama’s Treasury Secretary-designate not only cheated the U.S. government out of thousands of dollars in taxes, he actually pocketed money that his employer gave him as reimbursement for the taxes he never paid.

A national news magazine reports that Timothy Geithner’s problems are much more serious than previously reported. Besides failing to pay the U.S. government $34,000 in taxes, Obama’s pick to run the agency that ensures the nation’s financial security kept money earmarked as restitution for taxes he didn’t pay. Read More

Geithner Accepted IMF Reimbursement for Taxes He Didn’t Pay

Documents released by the Senate Finance Committee strongly suggest that Geithner knew, or should have known, what he was doing when he did not pay self-employment taxes in 2001, 2002, 2003, and 2004. After his failure to pay was discovered, first by the IRS and later during the vetting process, Geithner paid the federal government a total of $42,702 in taxes and interest.

The IMF did not withhold state and federal income taxes or self-employment taxes — Social Security and Medicare — from its employees’ paychecks. But the IMF took great care to explain to those employees, in detail and frequently, what their tax responsibilities were. First, each employee was given the IMF Employee Tax Manual. Then, employees were given quarterly wage statements for the specific purpose of calculating taxes. Then, they were given year-end wage statements. And then, each IMF employee was required to file what was known as an Annual Tax Allowance Request. Geithner received all those documents. Read More

Timothy Geithner President-elect Barack Obama’s choice to run the Treasury Department and lead the economic rescue failed to pay $34,000 in taxes

President-elect Barack Obama’s choice to run the Treasury Department and lead the economic rescue effort disclosed to senators Tuesday that he failed to pay $34,000 in taxes from 2001 to 2004, a last-minute complication in an otherwise smooth path to confirmation.

Timothy Geithner paid most of the past-due taxes days before Obama announced his nomination in November, an Obama transition official said. The unpaid taxes were discovered by Obama’s transition team while investigating Geithner’s background, the official said. Read More

Would the IRS let you the hard working middle class American get by without paying $34,000 in taxes? Should we the American people be upset that Obama still is picking him to run the Treasury Department? If so start writing congress! Obama said today that not paying taxes was no problem and that everyone makes that kind of mistake! Remember that Obama if I ever forget to pay my taxes! I understand that the IRS also gave him a break on back paying his taxes!

Links:

(1) AP whitewashes for tax dodger

(2) Confirmation Hearings!

(3) Someone, please stop Orrin Hatch. Please. Hurry.