Presidential Firsts
A couple of stories in the headlines got me to thinking about the stark contrasts between President Bush's Administration, and the new President Obama's. President Bush appointed the first black man as Secretary of State, the first black woman as Secretary of State. President B. Hussein Obama has named the first tax dodger as the chief of the IRS. Seems to be a stark difference, don't you think?
"It's so clear that Geithner knowingly did not pay his SE taxes. IMF instructed its employees on their liabilities; Geithner applied for and received reimbursements from the IMF for the taxes he didn't pay; and he didn't pay his 2001 and 2002 taves even after being auditted by the IRS for 2003 and 2004 taxes. This man should not be part of the Federal Reserve, let alone the SecTreas. [22] Let me see if I got this correct on 'grossing up.' The IMF provided additional gross income to be used by the employee to help pay his FICA taxes. The intent seems to be that the employee would not be liable for paying both halves of the FICA and was encouraged to match the IMF contribution and send in both amounts when filing his taxes. Geithner, by not paying any of the FICA taxes, basically pocketed both his contribution and the employers. The 'grossing up' payment was not his to keep. Basically he double-dipped from the taxpayers and from his employer.[5]
Now the members know about it. They haven'''t had much chance to study the very revealing memo put out by the committee staff ''' on a bipartisan basis ''' that described just what Geithner did. It described how the IMF repeatedly informed its employees, including Geithner, of their obligation to pay the self-employment tax. It described how the IMF frequently updated employees on the status of their tax situation.[26]
On the self-employment tax, Geithner accepted the IMF'''s reimbursement, but never paid the taxes. He did that in 2001, and 2002 and 2003 ''' over and over again.[26] Sean at 02:57 PM — your post is misleading. I don't know if it is intentionally misleading (i.e., your're part of the Obama team) or not (i.e., you merely buy what the Obama team is selling you), but here are some facts: Geithner did not pay his social security/Medicare taxes from 2001 through 2004 while he worked for the IMF. He was audited in 2006, and as a result paid the taxes due for 2003 and 2004.[22]"
Do you think the IRS would take, "it was just a mistake" excuse if it came from me? How about you? Great start, BO!
"It's so clear that Geithner knowingly did not pay his SE taxes. IMF instructed its employees on their liabilities; Geithner applied for and received reimbursements from the IMF for the taxes he didn't pay; and he didn't pay his 2001 and 2002 taves even after being auditted by the IRS for 2003 and 2004 taxes. This man should not be part of the Federal Reserve, let alone the SecTreas. [22] Let me see if I got this correct on 'grossing up.' The IMF provided additional gross income to be used by the employee to help pay his FICA taxes. The intent seems to be that the employee would not be liable for paying both halves of the FICA and was encouraged to match the IMF contribution and send in both amounts when filing his taxes. Geithner, by not paying any of the FICA taxes, basically pocketed both his contribution and the employers. The 'grossing up' payment was not his to keep. Basically he double-dipped from the taxpayers and from his employer.[5]
Now the members know about it. They haven'''t had much chance to study the very revealing memo put out by the committee staff ''' on a bipartisan basis ''' that described just what Geithner did. It described how the IMF repeatedly informed its employees, including Geithner, of their obligation to pay the self-employment tax. It described how the IMF frequently updated employees on the status of their tax situation.[26]
On the self-employment tax, Geithner accepted the IMF'''s reimbursement, but never paid the taxes. He did that in 2001, and 2002 and 2003 ''' over and over again.[26] Sean at 02:57 PM — your post is misleading. I don't know if it is intentionally misleading (i.e., your're part of the Obama team) or not (i.e., you merely buy what the Obama team is selling you), but here are some facts: Geithner did not pay his social security/Medicare taxes from 2001 through 2004 while he worked for the IMF. He was audited in 2006, and as a result paid the taxes due for 2003 and 2004.[22]"
Do you think the IRS would take, "it was just a mistake" excuse if it came from me? How about you? Great start, BO!
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