HE CANNOT DO MATH  10:52 am January 14, 2009

Tim Geithner, Horrible Tax Cheapskate

by Sara K. Smith

LamerOh everybody was soooo excited that this New York guy, Tim “Timothy” Geithner, had deigned to be Barack Obama’s treasury secretary. But now it comes out that for several years he paid state and federal income taxes but no payroll taxes! Well, everybody knows that payroll taxes are just for poor people anyway. They’re not even “real” taxes.

Here is the deal: back in the early part of this decade, Geithner worked for the International Monetary Fund. As an international organization, they don’t withold Social Security and Medicare taxes from their American employees’ payrolls. Instead, they pay those employees an extra 15% with the understanding that the money will go to self-employment tax and not to, whatever, Cristal and hookers.

This dummy Geithner did not pay his self-employment tax for four years because apparently his accountant said he didn’t have to. (?!?)

So then when he got audited in 2006, he wound up having to pay back taxes for 2003 and 2004, which he paid. But a three-year statute of limitations prevented the IRS from auditing him for the years 2001 and 2002, which he also owed back taxes on. So what did he do, this nationally prominent government money guy who probably had some inkling that he might some day might want to be even more nationally prominent in the world of finance? He said, “Enh, all right, I’ll just keep the change.”

Not until he was being vetted by the Obama transition team did he finally decide to produce the remaining $26,000. This is why he is a lamer.

Geithner Questioned on Tax Returns [New York Times]

 
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{ 57 comments }

Dildo Baggins January 14, 2009 at 10:59 am

Ya gotta give him some credit, though. It’s not like he spent the 26 large on a couple of hours with some 4-diamond whores. He probs just got himself a high-def and dish.

bago January 14, 2009 at 11:01 am

That’s not even 6 k. Thought it might pay for the booze bill.

DAmicosonegoodyear January 14, 2009 at 11:02 am

Eh… I’d prolly do the same thing.

BTW- One of the inbred rednecks i work with just put a set of yellow TRUCKNUTZ!!1!! on his nice, black caddy.

I hate Wisconsin.

AngryBlakGuy January 14, 2009 at 11:05 am

…considering the Republicans hate taxes so much, you would have figured they’d give him a pat on the back instead of grilling the shyt out of him?!

Mr Blifil January 14, 2009 at 11:06 am

No worries. Everyone is expendable. The dude who faked his death and crashed his unmanned plane in a swamp (surrounded by houses), and failed to off himself before being captured by authorities, his slate is now wide open. There’s plenty of unscrupulous dickheads for Obama to choose from.

El Pinche January 14, 2009 at 11:06 am

Too bad, the Willie Nelson appointee is the only that knows the inner workings of TARP, and Barry knows it. So the haterz can suck it. He’ll stay.

Tommy Says Ira G is a Tool January 14, 2009 at 11:08 am

If I don’t pay the Mexican lady in my basement, I don’t have to pay payroll tax. Win-win.

WadISay January 14, 2009 at 11:09 am

You would think that stiffing the government on his taxes would make him some kind of right wing Che Guevara.

Monsieur Grumpe January 14, 2009 at 11:10 am

[re=218356]DAmicosonegoodyear[/re]:
Yes, yellow on black… tacky.

Toomush Infermashun January 14, 2009 at 11:11 am

But let me get this straight…the IRS didn’t make him pay those 2001 and 2002 taxes, and, then, in deference to the Obamavetters, he decided to cough up $26,000….that’s, why, that’s…that’s UnMericun…Nobody ever pays taxes they don’t have to…we’d have a bloated government with all our moneys if we did that….this does not bode well for the future of taxation….just how much federal tax is there on a bottle of Myers, anyway…? – ’cause I only drink when I’m scared (most of the time)…

Spike January 14, 2009 at 11:12 am

I’d be uncomfortable with a finance guy who didn’t try to cheat on his taxes.

space stout January 14, 2009 at 11:12 am

[re=218356]DAmicosonegoodyear[/re]: yellow is just ridiculous. If they were gold-plated, that would work. But yellow? Never.

jagorev January 14, 2009 at 11:12 am

Okay, seriously, you can only criticize if you wouldn’t have done the exact same thing in his situation. Who among us would give the IRS money they wouldn’t ask for because of a statute of limitations? Also, if you would have paid the extra back taxes, you are a liar.

Johnny Zhivago January 14, 2009 at 11:13 am

Wesley Snipes would have been a better choice for Secretary of the Treasury…

lenorecutie January 14, 2009 at 11:14 am

I wish I could spend my tax money on Cristal and hookers. I’m tired of paying Social Security to old people who just sit around and play bingo and watch Matlock all day. Lazy bastards.

The Cold Sea January 14, 2009 at 11:14 am

He’s by far the best person for the job. Fact is, this shit happens. He’s not Capone. What’s upsetting is the Mexican housekeeper. I mean, he hired her and her paper certifying her as a Mexican expired. So he had a non-Mexican housekeeper for three months! WTF?

tdehr January 14, 2009 at 11:14 am

Perhaps he actually paid the remainder to his 4-diamond whore, in order to pay HER payroll taxes. Gotta dig a little deeper, transition team.

JadedDIssonance January 14, 2009 at 11:15 am

[re=218365]WadISay[/re]: That would be like Brush Bimbaugh having to broadcast on the move from secret safe-houses across the south.

TGY January 14, 2009 at 11:15 am

Never put anyone in charge of things who actually believes what his accountant says.

WagTehGod January 14, 2009 at 11:15 am

[re=218359]AngryBlakGuy[/re]: Yes, but they also are obsessed with the RULE OF LAW.

Except in public restrooms.

lenorecutie January 14, 2009 at 11:16 am

[re=218366]Monsieur Grumpe[/re]: I know, yellow. He should have bought red. Red and black is a sexy combination.

Doglessliberal January 14, 2009 at 11:17 am

Interestingly enough (for some weird, legal geeky types), this is a common enough issue that there are many Tax Court law opinions on it, including the taxpayers’ relying on incorrect accountants, which happens disturbingly often. It usually arises with US citizens working overseas, and his is the reverse, but not unusual.

But keeping 50 Mexican slaves in his basement is another thing, unless they were servicing him sexually, because then, it’s understandable.

Tommy Says Ira G is a Tool January 14, 2009 at 11:18 am

Just wait til the libtards on DailyKos find out about this! Doesn’t Hopey know that he OWES some pimple with a cable modem at UC Santa Cruz?!!!11!!!

Aurelio January 14, 2009 at 11:18 am

Geithner did not pay his self-employment tax for four years because apparently his accountant said he didn’t have to. That’s right, Tim. Blame your accountant, who got his degree from some online diploma mill. Right-brained aesthetic types like you don’t know anything about financial matters, right? And what job are you trying out for now? Treasury Secretary? Don’t worry about a thing. You’ll learn on the job. Just like at the IMF.

The Cold Sea January 14, 2009 at 11:20 am

[re=218383]WagTehGod[/re]: Or when it comes to going to war or managing the economy or protecting the civil liberties of US Americans. Other than that, the Republicans are about the RULE OF LAW.

Mr Blifil January 14, 2009 at 11:21 am

[re=218387]Tommy Says Ira G is a Tool[/re]: Which Oktobefest did you get your avatar pic from?

freakishlystrong January 14, 2009 at 11:21 am

What the fuck was that Freeper rant about? I tried to read it and tripped over; “mentiong”, “After finding brochure” and “Am my assumption wrong here?” and then my head ‘sploded…

Miller January 14, 2009 at 11:21 am

Surely the fact that this man can’t run his own personal finances in no way disqualifies him from running a large financial arm of the government. I mean when’s the Treasury Department ever going to have to figure out something as difficult as a simple tax procedure explicitly explained to you by your foreign employer? Confirm the man.

http://thesebastards.blogspot.com/

Deepthroat January 14, 2009 at 11:21 am

Joe (Sam) the plumber (child toucher) is impressed.

Johnny Zhivago January 14, 2009 at 11:22 am

[re=218378]The Cold Sea[/re]: That’s a strong talking point for this guy… “well look, at least he’s no Al Capone”…

That’s why our Governor Jon Corzine would have been such a better choice. You could never say that Corzine is no Al Capone.

Aurelio January 14, 2009 at 11:23 am

And what did Tim’s accountant say? “They’ll never notice”? “They’ll never go after you“?

Tommy Says Ira G is a Tool January 14, 2009 at 11:27 am

[re=218394]Mr Blifil[/re]: Ah, that’s no Oktoberfest, that’s Salma Hayek. I had thousands of the Salma pix but somehow they get deleted after Mrs Tommy uses the computer.

Aurelio January 14, 2009 at 11:28 am

That must be sort of a coup for an IRS agent–to bust a high muckety-muck at the IMF. And now they must be gloating more than ever!

Terry January 14, 2009 at 11:28 am

Why do all these yahoos have housekeepers anyway? Are they too fancy that they can’t swipe some Mr Clean around the bathroom and kitchen on Saturday morning before they go out to do the intellectual stuff?

Mr Blifil January 14, 2009 at 11:34 am

[re=218405]Tommy Says Ira G is a Tool[/re]: Nuff said. Maybe I can help you start to recover your stash.

Min January 14, 2009 at 11:39 am

He paid it? Even thought the SOL had run? Wimp.

The Cold Sea January 14, 2009 at 11:43 am

[re=218400]Johnny Zhivago[/re]: Yeah, that’s great. Maybe Huffpo would be interested.

robanybody January 14, 2009 at 11:45 am

He broke the rules. But then, what are the rules anymore? Rules. Ha! So Last Millennium.

No rules, no crime. Confirm.

Vulpes82 January 14, 2009 at 11:52 am

He’s a MONSTER!

Seriously, I kinda like it; maybe it means we’d get some much-needed tax code reform when even the Treasury Secretary got tripped up by it.

Tommy Says Ira G is a Tool January 14, 2009 at 11:54 am

[re=218412]Mr Blifil[/re]: Many thanks. There’s always time for a little march on Salma.

facehead January 14, 2009 at 11:59 am

I’m shocked the IRS got him before the forehead police.

Lejeune42 January 14, 2009 at 11:59 am

I do not know him, except that his father as well as him are alumni of The School of Advanced International Studies Of The Johns Hopkins University . I also fit the same profile having gained a masters of arts in advanced international sudies from it in l963. I served after a stint teaching at Howard University, also in public service recruited by the Federal Government to work to launch “the War on Poverty,” later transferred to the US Department of Labor. I commmiserate with Tim but I do not believe his explanation. He was cheating and he ought to admit it.

NoYou' January 14, 2009 at 12:06 pm

[re=218378]The Cold Sea[/re]: She had an employment authorization document when he hired her. She let the EAD lapse for 3 months and then she had it renewed. I guess he could have made a note to check up on the EAD when it expired. Not such a big deal since it seems like a mere technical violation.

The IRS on the other hand… Failing to pay taxes is a pas of the faux varietal.

Monsieur Grumpe January 14, 2009 at 12:07 pm

[re=218365]WadISay[/re]:
Or a left wing Leona Helmsley?

Lascauxcaveman January 14, 2009 at 12:11 pm

The statute of limitations is only three years for tax malfeasance? Awesome!

I know a certain caveman who’ll be sleeping well until at least April 15.

groove January 14, 2009 at 12:17 pm

So what did he do, this nationally prominent government money guy who probably had some inkling that he might some day might want to be even more nationally prominent in the world of finance? He said, “Enh, all right, I’ll just keep the change.”

THAT’s change you can believe in.

The Cold Sea January 14, 2009 at 12:19 pm

[re=218450]NoYou’[/re]: Big sale on Snark. Read post again.

CorkPopper January 14, 2009 at 12:20 pm

[re=218450]Lascauxcaveman[/re]: Yeah, that was totally my takeaway from this story. They can’t bust me for anything before 2005? Fan-fucking-tastic!

Geithner? Whatevs. Don’t care.

shortsshortsshorts January 14, 2009 at 12:42 pm

withhold not withold *sniff*.

Doglessliberal January 14, 2009 at 12:50 pm

[re=218479]shortsshortsshorts[/re]: a withold is what happens when someone says something so stunningly witty that your brain freezes, and you cannot think of an adequate reply. They have a withold on you.

shortsshortsshorts January 14, 2009 at 12:55 pm

[re=218482]Doglessliberal[/re]: IS THIS SOME KIND OF MEME OR SOMETHING? I am clearly in the dark *shoots self*.

Doglessliberal January 14, 2009 at 1:02 pm

[re=218487]shortsshortsshorts[/re]: it is the Doglessliberal meme, as I just made it up. Do I win something?

Bruno January 14, 2009 at 1:38 pm

Sorry, I have to say this gives the guy more ‘street cred’ with me.

Bruno January 14, 2009 at 1:47 pm

[re=218458]CorkPopper[/re]: Agreed, this 3 year thing is the best news ever. Now what should I do with all these rotting Franklins I have left over 2003?

lawrenceofthedesert January 14, 2009 at 2:03 pm

With a name like Tim Geithner, shouldn’t he be playing shortstop for Purdue?

hobospacejungle January 14, 2009 at 5:07 pm

[re=218610]lawrenceofthedesert[/re]: Why must you snark on my beloved alma mater? Or is there a joke in here I’m missing? Probably both. I am one of the few to escape Purdue without an engineering degree of some kind. I haz a lack of brainpowerz.

Advocatus_Diaboli January 14, 2009 at 9:36 pm

Typical republican douchebag, except for the part where he offers to pay the tax without a fight. Fucking scumbag makes more in a month than many people make all year, but he still wants to stiff society on paying his fair share. Fuck him. Roughly. With pointy objects.

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