Our New (?) Treasury Secretary
So, remember yesterday when I noted that Geithner, President-Elect Obama's nominee for Treasury Secretary had "neglected" to pay some taxes? Well guess what? Today we discovered that he had somehow forgot that he owed $34,000 in back taxes. Specifically, he forgot to pay a self-employment tax on income he earned by working for the International Monetary Fund from 2001-2004. Although he paid some of the taxes when informed of the issue by the IRS around 2006, he did not pay them in full until several days before he was nominated for the cabinet position. While I am a staunch democrat and even recognize (as has been pointed out repeatedly to the press) that tax guidelines are confusing for those employed by international organizations or who work abroad, I feel that President-Elect Obama should certainly reconsider his nomination (again, not that he did not already face this problem when vetting Geithner in the first place.) I guess my argument comes down to one point: should someone with as much financial knowledge as is required to work at the IMF and enter consideration for such a massively important government position understand taxes? and by extension the very nature of political economics? Additionally, the Treasury Secretary oversees such organizations as the IRS and it is therefore interesting that the leader of an organization may not even understand its core regulations. Warning: this man may be a creeparrrr. (thanks Swedish-American slang) Think what you will.........but I personally believe there's something a tad bit fishy about Geithner.
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