Timothy Geithner did not pay personal taxes and hired an illegal housekeeper

[Thrashertm]

"Treasury secretary designee Timothy Geithner is meeting with senators to discuss why he failed to pay personal taxes and check the immigration status of a housekeeper."

He didn't pay because he knows that he is above the law. He probably hunts humans on a remote island for sport, giving them just a 10 minute head start!

http://finance.yahoo.com/news/Source-Geithner-failed-to-pay-apf-14050873.html

[HOLLYWOOD]

No Doubt... Wealth/Elitists/Zionists are above the law.

look for the ENRON & TYCO boys to be released shortly.

[danberkeley]

Whatever. I hear that the Dems want to prosecute Bush for breaking the law. Btw, the Dems promised to end the war in Iraw once they took control of Congress.

[Cowlesy]

He probably hunts humans on a remote island for sport, giving them just a 10 minute head start![/url]

funniest thing I've read today!

[Knighted]

Wow, yet another Obama administration pick that is crooked. I'm starting to not be surprised anymore.

[surf]

Let me conclude by reiterating the fundamental view that the wave of innovation underway in credit derivatives offers substantial benefits to both the efficiency and stability of our financial system.

guess the source of this quote....

http://www.ny.frb.org/newsevents/speeches/2006/gei060516.html

[PatriotG]

Yahoo News (http://news.yahoo.com/s/ap/20090113/ap_on_go_ca_st_pe/treasury_nominee)

Un Friggin believable!!

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.

[HOLLYWOOD]

guess the source of this quote....

http://www.ny.frb.org/newsevents/speeches/2006/gei060516.html

Great frigin catch "SURF"!

Oh, CLASSIC! now a clip from Tim Geithner... Thank goodness the FED is incompetent and they left this incriminating evidence on their website! Then again, they probably don't care... why, because they are in control! Fascist Umbrella of "NATIONAL SECURITY"

And here we Goooooooooooo...


"Credit derivatives have contributed to dramatic changes in the process of credit intermediation, and the benefits of these changes seem compelling. They have made possible substantial improvements in the way credit risk is managed and facilitated a broad distribution of risk outside the banking system. By spreading risk more widely, by making it easier to purchase and sell protection against credit risk and to actively trade credit risk, and by facilitating the participation of a large and very diverse pool of non-bank financial institutions in the business of credit, these changes probably improve the overall efficiency and resiliency of financial markets."


Obama's Circus... starring the worst financial clowns on planet earth.

[JohnMeridith]

yes we can!!

[nullvalu]

Hey, maybe he's on our side and is a hardcore tax protester!! :eek::eek::eek: :rolleyes:

[pinkmandy]

Legally define "honest mistake". I'm thinking a whole lot of people should be getting out of prison...

[Cowlesy]

Great.

Obama has nominated someone who can't even do their own taxes, to be the United States Treasury Secretary.

Way to go fucknut.

[HOLLYWOOD]

WTF?

Senator Judd Gregg is on Cavuto and stating Tim Geithner doesn't have to paid taxes while he works at the IMF?

First it's a $200 MILLION tax break for Paulson and Bernake moving from Goldman Sachs to the FED/TREASURY and now there's tax exemption if you work at the IMF.

There is so much Damn Financial Discrimination in this country by government!

[JohnMeridith]

WTF?

Senator Judd Gregg is on Cavuto and stating Tim Geithner doesn't have to paid taxes while he works at the IMF?

First it's a $200 MILLION tax break for Paulson and Bernake moving from Goldman Sachs to the FED/TREASURY and now there's tax exemption if you work at the IMF.

There is so much Damn Financial Discrimination in this country by government!
Change!!

[angelatc]

Legally define "honest mistake". I'm thinking a whole lot of people should be getting out of prison...

Wesley Snipes, eat your heart out.

[angelatc]

WTF?

Senator Judd Gregg is on Cavuto and stating Tim Geithner doesn't have to paid taxes while he works at the IMF?




Judd is wrong. The IMF doesn't pay the employer part of the taxes, because international organizations are exempt. But American employees are required to pay their share. The IMF doesn't withhold it and send it in, like our bosses do. The employee is responsible for doing it himself. I would imagine that he was handed some paperwork explaining this on his first day at work.

[Mesogen]

Harry Reid called it a hiccup.

I heard him say it on C-Span.

http://weblogs.newsday.com/news/local/longisland/politics/blog/2009/01/geithner_hiccup.html
http://www.cbsnews.com/blogs/2009/01/13/politics/politicalhotsheet/entry4719934.shtml

When I don't pay my taxes this year, I'll just call Harry Reid and tell him that I have a case of the hiccups.

[PatriotG]

Great frigin catch "SURF"!

Oh, CLASSIC! now a clip from Tim Geithner... Thank goodness the FED is incompetent and they left this incriminating evidence on their website! Then again, they probably don't care... why, because they are in control! Fascist Umbrella of "NATIONAL SECURITY"

And here we Goooooooooooo...


Obama's Circus... starring the worst financial clowns on planet earth.

Here are some key excerpts from the man who wants to be our treasurer.

“Credit derivatives have contributed to dramatic changes in the process of credit intermediation, and the benefits of these changes seem compelling. They have made possible substantial improvements in the way credit risk is managed and facilitated a broad distribution of risk outside the banking system. By spreading risk more widely, by making it easier to purchase and sell protection against credit risk and to actively trade credit risk, and by facilitating the participation of a large and very diverse pool of non-bank financial institutions in the business of credit, these changes probably improve the overall efficiency and resiliency of financial markets.”
Really?

“With the advent of credit derivatives, concentrations of credit risk are made easier to mitigate, and diversification made easier to achieve. Credit losses, whether from specific, individual defaults or the more widespread distress that accompanies economic recessions, will be diffused more broadly across institutions with different risk appetite and tolerance, and across geographic borders.”

Im sure the people on the other side of the border are happy about this!


“These concerns are based in part on uncertainty-a candid acknowledgment that there is a lot we do not yet know about how these instruments and the increased role of nonbank institutions in these markets will affect how the financial markets are likely to function in conditions of stress.”

Pardon my english but…..Holy Shit!
You said something honest and non arrogant!

“In the financial system we have today, with less risk concentrated in banks, the probability of systemic financial crises may be lower than in traditional bank-centered financial systems.”

Wrong! I would love to hear how you came to this conclusion. This seems to be nothing more than arrogant assumption.

“Let me conclude by reiterating the fundamental view that the wave of innovation underway in credit derivatives offers substantial benefits to both the efficiency and stability of our financial system.”

Wrong! Again! Where we currently reside in economic history, proves this.

Now I'm hoping I dont sound arrogant in my responses to some of these idiotic statements. However I do not claim to be an economic genius, and I am certainly not qualified to do the job of U.S. Treasurer.

But, as early as late 2006, I became aware that something was wrong with this entire economy. I began to question the over leveraging of some financial institutions late in 2006. I have been questioning fractional banking since I became politically aware in 2004. So I guess Mr. Geithner was perhaps, under a rock somewhere?

To our readers, I recommend reading the entire speech. It is filled with inaccuracies and arrogant assumptions.

He appears to be very short sighted, or perhaps he is as clueless as our current treasurer.

I wonder if he can beg, frighten and lie as well as Paulson?

Yes, he certainly seems qualified to be treasurer of the U.S.
As long as he pays his back taxes.


PS: Nice Article Find HOLLYWOOD. Thanks for bringing this to our attention.

[angelatc]

It gets even better. He was freaking reimbursed for the money but did not pay them.

.


The IMF did not withhold state and federal income taxes or self-employment taxes — Social Security and Medicare — from its employees’ paychecks. But the IMF took great care to explain to those employees, in detail and frequently, what their tax responsibilities were. First, each employee was given the IMF Employee Tax Manual. Then, employees were given quarterly wage statements for the specific purpose of calculating taxes. Then, they were given year-end wage statements. And then, each IMF employee was required to file what was known as an Annual Tax Allowance Request. Geithner received all those documents.

The tax allowance has turned out to be a key part of the Geithner situation. This is how it worked. IMF employees were expected to pay their taxes out of their own money. But the IMF then gave them an extra allowance, known as a “gross-up,” to cover those tax payments. This was done in the Annual Tax Allowance Request, in which the employee filled out some basic information — marital status, dependent children, etc. — and the IMF then estimated the amount of taxes the employee would owe and gave the employee a corresponding allowance.

At the end of the tax allowance form were the words, “I hereby certify that all the information contained herein is true to the best of my knowledge and belief and that I will pay the taxes for which I have received tax allowance payments from the Fund.” Geithner signed the form. He accepted the allowance payment. He didn’t pay the tax. For several years in a row.

http://article.nationalreview.com/?q=YzJjOGQyODY2ZjhhMWY4Y2U3YmVkMjhlMWQ2MWZiNTA=

[Paulitician]

A little quibble, the housekeeper was not "illegal" when Geithner hired her (it is a her though, right?). Anyway, I love it when statists tell me it's a good thing to pay my taxes (like Biden saying it's "patriotic"), but evidently statists themselves do not think the same applies to them. Hypocrites.

[angelatc]

A little quibble, the housekeeper was not "illegal" when Geithner hired her (it is a her though, right?). Anyway, I love it when statists tell me it's a good thing to pay my taxes (like Biden saying it's "patriotic"), but evidently statists themselves do not think the same applies to them. Hypocrites.

I could let him slide on the housekeeper thing. But the tax thing - he was reimbursed for the taxes, but he did not pay them. If he were one of us he'd be headed to jail.

[lucius]

"Treasury secretary designee Timothy Geithner is meeting with senators to discuss why he failed to pay personal taxes and check the immigration status of a housekeeper."

He didn't pay because he knows that he is above the law. He probably hunts humans on a remote island for sport, giving them just a 10 minute head start!

http://finance.yahoo.com/news/Source-Geithner-failed-to-pay-apf-14050873.html

Sadly, par for the course...

[forsmant]

These are laws I wish we were all above anyway!

[Primbs]

guess the source of this quote....

http://www.ny.frb.org/newsevents/speeches/2006/gei060516.html

Let me conclude by reiterating the fundamental view that the wave of innovation underway in credit derivatives offers substantial benefits to both the efficiency and stability of our financial system.

Talk about failing upward. Wreck the system and get promoted to Treasury Secretary.

[angelatc]

Let me conclude by reiterating the fundamental view that the wave of innovation underway in credit derivatives offers substantial benefits to both the efficiency and stability of our financial system.

Talk about failing upward. Wreck the system and get promoted to Treasury Secretary.

The Peter Principle!

[Pepsi]

Timothy F. Geithner, Obama’s tarnished selection for Treasury Secretary, is connected to Obama through their parents.

Geithner’s father, Peter F. Geithner, is the director of the Asia program at the Ford Foundation in New York . During the early 1980s, Peter Geithner oversaw the Ford Foundation’s microfinance programs in Indonesia being developed by Ann Dunham-Soetoro, mother of President-elect Barack Obama, and they met in person at least once.

Mr. Geithner’s father was head of the philanthropy’s Asia grant making for a period in the early 1980s and oversaw the work of Mr. Obama’s mother, who developed the organization’s microfinance programs in Indonesia .

During the vetting process, it was discovered that Geithner failed to pay his 1099, self-employment, taxes during the years he worked at the International Monetary Fund, making him uniquely qualified to direct Obama’s election-scam that gives billions of dollars in “income tax rebates” to people who never paid any income taxes...

http://drorly.blogspot.com/2009/01/more-on-ford-sutoro-obama-connection.html

http://angelpolitics.wordpress.com/2009/01/15/timothy-f-geithner-vs-obama/