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Geithner
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Anonymous
| What do you think? Is his nomination in real trouble? |
Anonymous
| It has to be over for him....come on. This is a combo of many things that have put others' nominations in jeopardy. The illegal household employee AND the personal income taxes. Double whammy. I'm self employed and somehow have never "forgotten" to pay my taxes. Stupid. |
Anonymous
| Well, it did in two of Clinton's nominees. I don't see how opinions have changed in this area. |
Anonymous
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To me, it would seem the top dog of an agency would need to be stellar in merit and have a flawless record. And it is that much more ironic that the Treasury nom. had payroll/income tax issues.
This isn't an entry level position where tax "mistakes" can be overlooked. In fact, it seems to lessen your qualifications b/c if you can't even pay attention/follow your own personal taxes (and nanny situation) how are you expected to operate, take charge, and give economic statements of the Treasury....and no doubt, with this economy, this area will be in the news quite a bit now days. |
Anonymous
I disagree on the tax point. It seems at the time that the IRS regs on world bank/IMF employees were unclear so its easy to see how he could have made an error on the employment taxes. The immigration thing is a little bitter harder to get over. My bet is that he gets confirmed after he gets his finger slapped by the senate. |
Anonymous
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His oversight on taxes was intentional. He was told about not paying for four years, and he chose to pay two. Huh? Oversight again?
He's out. |
Anonymous
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Does Geithner prepare his own taxes or does he rely on an accountant? My guess is the latter, and the accountant really should have preparer liability if the returns were done wrong. I am not an accountant but have personally dealt with compensation paid the exact same way and I understand the 'self employment tax'.
I am conflicted about the housekeeper. If I hired someone and the EAD was in order, I don't think I have the obligation to reconfirm the EAD on any kind of routine basis. It might be required, but I don't know. Agree with a PP that he will be embarrassed and then confirmed. |
Anonymous
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But don't his "mistakes" just cloud his credibilty (and ability) to be a cabinet head?
This isn't some ho-hum tax accountant job that Geithner is nominated for, but the big kahuna of an agency (and adviser to the Pres.). Shouldn't there be any accountability too? While we're at it, how about Madoff for SEC - he obviously knows how to beat the system. |
Anonymous
The more that comes out the worse it looks - Geithner's character at the least gets called into question. He prepared his own taxes 2 of the 4 years in question. And when the IRS told him he had done it wrong 2 of those years, he really had to have known that it was wrong all 4. And then come to find out the IMF gave him the money to pay the tax he skipped out on - so he was just pocketing about $7500 a year that the IMF earmarked to him for the tax instead of paying it over. Honestly, did that amount of money materially impact how he lived his life? |
Anonymous
| Presumably he did not pony up for the earlier 2 years because he thought the IRS statute of limitations would protect him? Which is not good ethics to say the least. And yes, he HAD to know he owed it all along as he is a smart guy, for goodness sake. Not a deal breaker for me personally, but I would seriously prefer better ethics from any appointee and particularly for Treasury given what's going on in our economy right now. |