WASHINGTON — Timothy Geithner didn’t pay Social Security and Medicare taxes for several years while he worked for the International Monetary Fund, and he employed an immigrant housekeeper who briefly lacked proper work papers. Those issues, and a series of other tax matters, scuttled a tentatively scheduled confirmation hearing Tuesday for Mr. Geithner as Treasury secretary, Senate Finance Committee aides said. The tax matters were instead the subject of a closed-door meeting between the nominee, currently president of the Federal Reserve Bank of New York, and members of the Senate Finance panel, in whose hands his confirmation lies.
Several senators said after the meeting that they intended to remain supporters of Mr. Geithner, who has playing a central role in tackling the financial crisis. Senate Finance Chairman Max Baucus (D., Mont.) called the issue serious, but not disqualifying. “I still support him,” said Sen. Orrin Hatch (R., Utah) as he emerged from the meeting. “He’s a very competent guy.”
Sen. Charles E. Grassley of Iowa, the committee’s senior Republican, didn’t give Mr. Geithner a pass. “It’s serious, and whether or not it’s disqualifying is to be determined,” Mr. Grassley said after the meeting. Obama aides said they didn’t think these issues would present a problem, given what they characterized as the minor nature of the infractions and the gravity of the role Mr. Geithner has been nominated to take.
The tax issue relates to Mr. Geithner’s work for the International Monetary Fund between 2001 and 2004. As an American citizen working for the IMF, Mr. Geithner was technically considered self-employed and was required to pay Social Security and Medicare taxes for himself as both an employer and an employee. In 2006, the IRS audited Mr. Geithner’s 2003 and 2004 taxes and concluded he owed taxes and interest totaling $17,230, according to documents released by the Senate Finance Committee. The IRS waived the related penalties.
I think the issue here is not the relatively small amount of taxes owed, around $34,000.00, but the fact that the future Secretary of the Treasury didn’t know he had to pay Social Security and Medicare while being self employed. Is anybody buying this? I took some bad advice from an accountant years ago when I was working outside the US for the same issue. You can bet they didn’t forgive any of it.
And I thought Obama was a political newbie. Looks like he already understands how to hire the crooks.
Hmmm…he’s from the IMF which makes him an EHM…just keep that on the DL. I like my conspiracies served with a side of Curry. HAR!
Huh?
I thought this story got yanked!?
looks like somebody in the news corp didn’t get their payola check…
gotta feel sorry for obama, he’s not even in the
whitehouse yet and already his puppet masters are treating him like a two bit rag doll..
i wonder if there is *anyone* in his staff that he actually had a say in picking..
the fact that this guy cut his teeth working for Mr. Evil himself, Kissinger, sets off major alarm bells..let alone his positions CFR, and IMF.
-i cannot believe a shill for JP Morgan, Goldman&Sachs and the Blackstone Group gets singing praise from the media elite..
the conflicts of interest this guy represents
are insane..
he rivals obama for puppet of the year award.
i would hazard a $1 bet that Geithner was grown in a petri dish using the combined DNA
of all the above to do their bidding…
sadly with clout of the crooks mentioned above, he will get a “walk” on the tax issue and be “installed” nonetheless.
i feel realy bad for obama’s kids..no doubt, they will be used as leverage to make sure obama does everything is masters tell him to do..
yup..change you can count on to be nothing of what you hoped for..
-s
I held my nose and went to FoxNews. This ‘story’ is neither in their top news nor most read. Still, a nice Dvorak bone to the still angry for losing republicans in here.
So what’s the observation here.
If you’re an unemployed Republican or on the verge, you want this guy. He is well received by both party’s and clearly Wall Street – given the market response to his announcement.
If you’re an employed Republican, you would rather get to the old, stale politics seen here despite the economy burning down. So what’s new?
Conclusion: … BORING, nobody cares, you lost so STFU , Get a life, your whine is so 2008,….
Dallas…I listened to Fox on the way in to work this morning, and those dumbasses didn’t have the facts on this story right, drooled at the possibilities for material as the days go by, and finally complained about the MSM regarding the media hullabaloo over GWB’s 2nd inauguration costs as opposed to the silence over Obama’s. Gee, ya think the re-inauguration of a guy barely elected compares with next Tuesday? wow.
The people on that show are so stupid it’s hardly entertaining anymore. Their viewpoint I can understand, but their blatant myopia is amazing.
They lib apologists are REALLY having to stretch to give Omama a pass on this one. Funny to watch them be as lame as the Bush apologists.
While mistakes happen, and people should not be punished forever for them, he should have paid the penalty. If the tax accountant told him something wrong, then maybe the accountant should be assessed half the penalty.
For what it’s worth, he is a financial expert, not a tax accountant. It is the financial expert the country needs to help fix the mess of eight years of mismanagement.
I really like the attitude of the right wing nuts. For some reason, their frustration at the failure of their own schemes to ruin the entire world must be taken out on normal people. Poor little wing nuts.
Now, as was suggested earlier, why not just STFU.
*
Cow-Paddy,
You are really one to complain. Continually you post garbage. Why? Maybe Radio Shack makes you empty the garbage in the stock room. Maybe your mommy makes you take out the garbage. Maybe you just are garbage.
change we can believe in…..haaaaa
# 29 algore said, “change we can believe in…..haaaaa”
LOL
Just wait. The Obama zombies will continue to trickle onto this thread to make lame excuses and ad homium attacks as they realize that the Messiah has no clothes…
#30, Cow-Paddy,
Still showing your support the worst President in our history. Only 27% approve of Bush. That must bite your butt.
I can see it will be a real shock that we are going from a system of lazzai faire economics to one of oversight and adherence to regulations.
It’s not just a matter of a bad accountant. He was given the info by the IMF. Plus he was audited, and ordered to pay for 2003 and 2004, but he conveniently ‘forgot’ to correct the same mistakes for 2001 and 2002, which were not audited.
How about we pass a Geithner tax amnesty. It would fix the deficit problem pretty quickly.
#19 – Amo
>>Well, if you’re going for change, it’s not a
>>good idea to look for someone who’s been
>>part of the problem all his life!
Uh, it wasn’t a “problem” all his life. It only turned into a “problem” when Dumbya decided to make it his legacy to destroy America. The rest of his life, things were going pretty well.
As to the “scandal” – pffft. The woman had a valid green card when he hired her; it just expired, then she got it renewed. I drove for over a year with an expired drivers license. BFD. And as to the taxes, he paid up what he had to pay up.
Pretty thin gruel for the wingnuts to latch onto. Compare and contrast: Everyone is debating whether or not Dumbya’s henchmen and puppet masters are going to be charged with felony crimes; this guy’s accountant bollixed up his tax returns, then amended them to pay what he had to.
I report. You decide.
# 34 Mister Mustard said, “As to the “scandal” – pffft. The woman had a valid green card when he hired her; it just expired, then she got it renewed.”
Yeah, there is nothing wrong with this. Wrong target altogether.
Mike, I see why you’re called Lyin now. He didn’t forget anything, the IRS couldn’t compel him to pay for 01/02.
Would you pay money to the IRS if it wasn’t required? The answer is no, so STFU.
# 36 Olo Baggins of Bywater said, “Would you pay money to the IRS if it wasn’t required?”
Actually, the statute of limitations for collections is 10 years not 3.
Anyway, nice to see the Obamabots already excusing members of the new admin for violating federal law.
ROFL!
Republicans should focus on what Geithner has done with his penis. It’s worked pretty well with the Clinton’s.
In that way, you have much to talk about while the democrats tend to business. So, STFU or go find something about where Geithner’s penis has been.
Yes, the IRS couldn’t compel him to pay, as I said he wasn’t audited for those years. That doesn’t absolve him of responsibility. Hence the word ‘forgot’ in quotes. Yeah, most people wouldn’t do that either. Most people wouldn’t pay any taxes if they can get away with it. So I guess that makes it OK, then?
Like I said, we should have a Geithner tax amnesty.
Obama appointees being dropped left and right for various issues and some of you Obama-bots claim that these posts are the fault of disgruntled republicans… OMG!!!
Are we going to spend the next four years listening to that crapola?
Grow a pair you guys, and grow up…