Obama's Treasury Secretary - A Tax Cheat

[w¡n9Nµ7 §£@¥€r 123]

WASHINGTON -- Timothy Geithner didn't pay Social Security and Medicare taxes for several years while he worked for the International Monetary Fund, and he employed an immigrant housekeeper who briefly lacked proper work papers.

Those issues, and a series of other tax matters, caused the postponement Tuesday of Mr. Geithner's confirmation hearing as Treasury secretary. They were instead the subject of a closed-door meeting between the nominee, currently president of the Federal Reserve Bank of New York, and members of the Senate Finance Committee

http://online.wsj.com/article/SB123187503629378119.html

[Ban Hammer 14,573]

saw that on cnn earlier today

[one...two...tree 2,762]

How did these things get overlooked by the transition team? Somebody wasn't doing their homework.

[mawilson 2,133]

Uhm #######. Dow jumped nearly 500 points on reports of Geithner nomination - does it mean

we can expect a 500 point drop tomorrow?

[w¡n9Nµ7 §£@¥€r 123]

Uhm #######. Dow jumped nearly 500 points on reports of Geithner nomination - does it mean

we can expect a 500 point drop tomorrow?

What it means is he will be confirmed. Wall Street will get the man it wants.

[mawilson 2,133]

Uhm #######. Dow jumped nearly 500 points on reports of Geithner nomination - does it mean

we can expect a 500 point drop tomorrow?

What it means is he will be confirmed. Wall Street will get the man it wants.

You're probably right. Dow futures are still up.

[w¡n9Nµ7 §£@¥€r 123]

Uhm #######. Dow jumped nearly 500 points on reports of Geithner nomination - does it mean we can expect a 500 point drop tomorrow?

What it means is he will be confirmed. Wall Street will get the man it wants.

You're probably right. Dow futures are still up.

[one...two...tree 2,762]

Uhm #######. Dow jumped nearly 500 points on reports of Geithner nomination - does it mean

we can expect a 500 point drop tomorrow?

What it means is he will be confirmed. Wall Street will get the man it wants.

Why do they want Geithner?

[w¡n9Nµ7 §£@¥€r 123]

Uhm #######. Dow jumped nearly 500 points on reports of Geithner nomination - does it mean

we can expect a 500 point drop tomorrow?

What it means is he will be confirmed. Wall Street will get the man it wants.

Why do they want Geithner?

http://abcnews.go.com/print?id=6196682

http://www.iht.com/articles/ap/2008/11/21/...ner-Profile.php

[one...two...tree 2,762]

Uhm #######. Dow jumped nearly 500 points on reports of Geithner nomination - does it mean

we can expect a 500 point drop tomorrow?

What it means is he will be confirmed. Wall Street will get the man it wants.

Why do they want Geithner?

http://abcnews.go.com/print?id=6196682

http://www.iht.com/articles/ap/2008/11/21/...ner-Profile.php

Ah, ok.

[mawilson 2,133]

Uhm #######. Dow jumped nearly 500 points on reports of Geithner nomination - does it mean

we can expect a 500 point drop tomorrow?

What it means is he will be confirmed. Wall Street will get the man it wants.

Why do they want Geithner?

Markets hate uncertainty and Geithner is a known quantity.

[mendeleev 69]

How did these things get overlooked by the transition team? Somebody wasn't doing their homework.

It was the transition team who noticed Geitner's error in the first place. Geitner rapidly fixed his goof -- which arose because his employer at that time, the World Bank, didn't withhold payroll taxes that we take for granted. So, he didn't pay the employer portion of Social Security taxes. A moral of the story -- if you are a busy professional with even slightly complex taxes, hire someone to do them for you. Even this, though, there may still be errors.

[w¡n9Nµ7 §£@¥€r 123]

It was the transition team who noticed Geitner's error in the first place. Geitner rapidly fixed his goof -- which arose because his employer at that time, the World Bank, didn't withhold payroll taxes that we take for granted. So, he didn't pay the employer portion of Social Security taxes. A moral of the story -- if you are a busy professional with even slightly complex taxes, hire someone to do them for you. Even this, though, there may still be errors.

Conservative blogger Byron York has this to say:

There's no doubt that the IMF exmployees' tax structure was a little complicated. But if the IRS, in 2006, informed Geithner that he had a problem for the years 2003 and 2004, how come he didn't go back and look to see if he had made the same error in 2001 and 2002? It turns out he had, but how come that was only discovered in late November 2008, at pretty much precisely the time Geithner was nominated to be Treasury Secretary? According to the account released by the Obama transition, Geithner owed $25,970 for 2001 and 2002, which is more than he had to pay for the 2003 and 2004 mistakes. It's something that needs clearing up.

[one...two...tree 2,762]

How did these things get overlooked by the transition team? Somebody wasn't doing their homework.

It was the transition team who noticed Geitner's error in the first place. Geitner rapidly fixed his goof -- which arose because his employer at that time, the World Bank, didn't withhold payroll taxes that we take for granted. So, he didn't pay the employer portion of Social Security taxes. A moral of the story -- if you are a busy professional with even slightly complex taxes, hire someone to do them for you. Even this, though, there may still be errors.

Now that makes sense.

[Hilarious Clinton 452]

Sounds like Tim didn't want to pay his 'fair' share. So typical.