The IUSB Vision Weblog

The way to crush the middle class is to grind them between the millstones of taxation and inflation. – Vladimir Lenin

ELITE MEDIA: Obama’s Treasury Secretary Doesn’t Pay $34,000 in Taxes and he is Good; Joe the Plumber Didn’t Pay $1,200 in Taxes and He is Bad and His Word is No Good

Posted by iusbvision on January 14, 2009

The elite media double standard is as blatant as can be. The attitude that the media presents facts has a huge sway over people’s perceptions.

Now here is Tim Geithner, a smart guy and a financial guru, and even with help he could not get his taxes right. How many of us little people are fined, jailed or harassed for lesser mistakes? Could it be that this is a case to overhaul and simplify our ridiculously complex tax code? IF the Treasury Secretary can’t do it even with help, who can?

Zoe Baird and Kimba Wood had tax problems that were much less and their nominations were nixed. So why the double standard for this guy? Joe Biden says that it is patriotic to pay more taxes so is Geithner unpatriotic?

AP:

January 13, 2009

By BRETT J. BLACKLEDGE, Associated Press Writer

WASHINGTON

President-elect Barack Obama’s choice to run the Treasury Department and lead the economic rescue effort disclosed publicly 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, according to materials released by the Senate Finance Committee. He had paid the remainder of the taxes in 2006, after the IRS sent him a bill.

The still-unpaid taxes were discovered by Obama’s transition team while investigating Geithner’s background.

Senate Finance Committee Chairman Max Baucus said he still hoped Geithner could be confirmed on Inauguration Day. Obama’s staff told senators about Geithner’s tax issues Dec. 5.

“These errors were not intentional; they were honest mistakes,” Baucus said after he and other committee members met with Geithner behind closed doors.

Geithner, plucked from his job as president of the Federal Reserve Bank of New York to serve as Obama’s treasury secretary, told transition officials and senators that he didn’t know he owed self-employment taxes when he worked for the International Monetary Fund.

He failed to pay self-employment taxes for money he earned while working for IMF from 2001 to 2003, according to materials released by the Senate committee. In 2006, the IRS notified him that he owed $14,847 in self-employment taxes and $2,383 in interest from 2003 and 2004. The IRS waived penalties for those tax years.

Transition officials discovered last fall that Geithner also had not paid the taxes in 2001 or 2002. He paid $25,970 in back taxes and interest for those years several days before Obama announced his nomination, the committee documents showed.

Geithner also said he didn’t realize a housekeeper he paid in 2004 and 2005 did not have current employment documentation as an immigrant for the final three months she worked for him, the documents indicated.

Geithner is the second Obama nominee to face controversy. New Mexico Gov. Bill Richardson withdrew his name on Jan. 4 as Obama’s commerce secretary after questions surfaced about a federal investigation concerning contributions and a state contract.

http://kdrv.com/news/national/79832

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