Wonkette
Oh 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]
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.
That’s not even 6 k. Thought it might pay for the booze bill.
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.
…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?!
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.
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.
If I don’t pay the Mexican lady in my basement, I don’t have to pay payroll tax. Win-win.
You would think that stiffing the government on his taxes would make him some kind of right wing Che Guevara.
DAmicosonegoodyear:
Yes, yellow on black… tacky.
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)…
I’d be uncomfortable with a finance guy who didn’t try to cheat on his taxes.
DAmicosonegoodyear: yellow is just ridiculous. If they were gold-plated, that would work. But yellow? Never.
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.
Wesley Snipes would have been a better choice for Secretary of the Treasury…
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.
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?
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.
WadISay: That would be like Brush Bimbaugh having to broadcast on the move from secret safe-houses across the south.
Never put anyone in charge of things who actually believes what his accountant says.
AngryBlakGuy: Yes, but they also are obsessed with the RULE OF LAW.
Except in public restrooms.
Monsieur Grumpe: I know, yellow. He should have bought red. Red and black is a sexy combination.
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.
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!!!
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.
WagTehGod: 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.
Tommy Says Ira G is a Tool: Which Oktobefest did you get your avatar pic from?
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…
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/
Joe (Sam) the plumber (child toucher) is impressed.
The Cold Sea: 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.
And what did Tim’s accountant say? “They’ll never notice”? “They’ll never go after you“?
Mr Blifil: 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.
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!
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?
Tommy Says Ira G is a Tool: Nuff said. Maybe I can help you start to recover your stash.
He paid it? Even thought the SOL had run? Wimp.
Johnny Zhivago: Yeah, that’s great. Maybe Huffpo would be interested.
He broke the rules. But then, what are the rules anymore? Rules. Ha! So Last Millennium.
No rules, no crime. Confirm.
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.
Mr Blifil: Many thanks. There’s always time for a little march on Salma.
I’m shocked the IRS got him before the forehead police.
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.
The Cold Sea: 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.
WadISay:
Or a left wing Leona Helmsley?
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.
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.
NoYou’: Big sale on Snark. Read post again.
Lascauxcaveman: 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.
withhold not withold *sniff*.
shortsshortsshorts: 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.
Doglessliberal: IS THIS SOME KIND OF MEME OR SOMETHING? I am clearly in the dark *shoots self*.
shortsshortsshorts: it is the Doglessliberal meme, as I just made it up. Do I win something?
Sorry, I have to say this gives the guy more ’street cred’ with me.
CorkPopper: 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?
With a name like Tim Geithner, shouldn’t he be playing shortstop for Purdue?
lawrenceofthedesert: 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.
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.