Schumer, Durbin and Barney Frank See No Problem with Treasury Nominee's Tax Problems

[megimoo]

Sen. Chuck Schumer (D-N.Y.) told CNSNews.com: “I think he is a very, very fine nominee and I think, while he admitted these were mistakes, and I think he will be confirmed.”

“No, I don’t think” Geithner should be disqualified, said Rep. Barney Frank (D.Mass.).

Senate Majority Whip Dick Durbin (D-Ill.) told CNSNews.com: “No, I don’t” think this is a problem “and I’ll tell you why. I think he received advice from accountants, which turned out to be wrong. It seems like an innocent mistake – no conscious effort to try to avoid paying taxes. .snip I think these were errors but innocent errors.”
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According to documents released by the Senate Finance Committee, Geithner failed to make several tax payments as required when he worked at the International Monetary Fund and, in total with penalties, has had to pay $48,268 in back-taxes and penalties that go back as far as 2001.


According to The Wall Street Journal, Geithner was “repeatedly advised in writing by the International Monetary Fund that he would be responsible for any Social Security and Medicare taxes he owed on income he earned at the IMF between 2001 and 2004.”

Bloomberg News also reported in November 2008 that Geithner’s salary in 2007 was $398,200, which is more than double Federal Reserve Chairman Ben Bernanke’s compensation who, along with Treasury Secretary Henry Paulson, received a salary of $191,300 in 2008.

President-elect Obama told CBS News that his transition team knew of Geithner’s tax problems before he was nominated as Treasury secretary. It has been reported that Geithner made several tax payments soon after he learned he would be the nominee.

In contrast, Rep. Joseph Cao (R-La.) told CNSNews.com: “I don’t think so. The secretary of the Treasury should be a person beyond any problems. If he had any kind of legal problems, ethics problems, I don’t think he should be” confirmed.

And Rep. Dan Burton (R-In.) said: “I think it ought to be investigated thoroughly, and if he knowingly didn’t pay his taxes, I don’t see how he should be confirmed. Now, if there were some reason for it, that he could explain, that’s another matter, because I understand he’s very bright. But that’s something that needs to be thoroughly explained.”

http://www.cnsnews.com/public/content/article.aspx?RsrcID=42068

[PoliCon]

Truth be told - I'm a HUGE fan of dodging taxes. I mean hell - there wouldn't even be a USA if not for the tax dodging of the Founding Fathers! My issue is with them excusing this guy when the would have castigated him had he been nominated by republicans.

[lacarnut]

Truth be told - I'm a HUGE fan of dodging taxes. I mean hell - there wouldn't even be a USA if not for the tax dodging of the Founding Fathers! My issue is with them excusing this guy when the would have castigated him had he been nominated by republicans.

The lliberal press would be howling from the tallest tree if this was a Repub. The media and Democraps turn a blind eye to their crooks. This turkey is tax evader and should be charged; he can not claim he did not know he was breaking the law. However, he will be confirmed. Hopefully, the Repubs are keeping their powder dry for two left wing radicals, the A.G. & EPA nominees, that will come up for confirmation.

[PoliCon]

oh he knew full well what he was doing - and I'd have more respect for him if he stood up and said - yes I dodged those taxes.

[AlmostThere]

I have a little experience with the I.R.S.. I seem to recall having to pay the taxes, interest and a penalty. But this gentleman paid taxes that were 4,5,6, and 7 years in the arrears but didn't have to pay a penalty, just tax and interest. Why?

[Ringo]

Truth be told - I'm a HUGE fan of dodging taxes. I mean hell - there wouldn't even be a USA if not for the tax dodging of the Founding Fathers! My issue is with them excusing this guy when the would have castigated him had he been nominated by republicans.

But when Mcidiot owed back taxes on one of his eight houses ...it wasn't a problem for you hacks.....and he wanted to be President.

[lacarnut]

I have a little experience with the I.R.S.. I seem to recall having to pay the taxes, interest and a penalty. But this gentleman paid taxes that were 4,5,6, and 7 years in the arrears but didn't have to pay a penalty, just tax and interest. Why?

The IRS will cancel the penalty if you write a letter requesting that they be abated. Most agents will not volunteer that information. A good tax preparer will be able to help you in that regard. The IRS will nickel and dime you when the amount of the tax is small but with large sums they will take less than the amount of the tax owed in some cases or they will be happy to take the tax and interest and waive the penalty. That's pretty chicken shit but that's how they operate.

I worked for the LA Dept. of Revenue; the feds and the state operate in the same manner.

[lacarnut]

But when Mcidiot owed back taxes on one of his eight houses ...it wasn't a problem for you hacks.....and he wanted to be President.

You are an idiot and here is WHY!

If you do not pay your property taxes, the authorities will take your home. Note, this is not a crime. It was just an oversight and when they found out that the tax was delinquent they promptly paid the property taxes which probably amounted to a few thousand dollars.

Geithner avoided paying Federal Income Taxes which is a criminal offense and can be prosecuted as such. In most cases, the government just wants the money. He knew damn well that he owed the taxes so it was not an oversight like in the case with the McCain's. FYI, Pisslosi stated that this was going to be the most open and ethical Congress in history. The report for ethics violations against Rangel was supposed to have been released at the end of last year. His chairmanship should be stripped but that will not happen because the crooks are guarding the crooks.

You have to be one dumb ass to correlate the two together. A 12 year would know the difference.

Looks like the Democraps have a shit pot of crooked Democrats in the new Admin. and the Congress.
For example: Hillary Clinton ----tax evasion of $100,000 which was not reported for legal work on Whitewater------Greaseball Charlie Rangel did not pay Federal Income taxes on income from rental property in P.R. and other properties.

[marinejcksn]

oh he knew full well what he was doing - and I'd have more respect for him if he stood up and said - yes I dodged those taxes.

Hell, if the guy held a press conference and explained why he didn't pay those taxes I would've admired him. I loathe the IRS; worthless pricks took over 3 grand of my money last year and still said I owed 350 bucks. I asked my tax guy; with this "Stimulus" check of 600 bucks coming my way, can't I tell the Government just keep my check and we'll call it even? They told me no. How retarded is that? I was actually volunteering to save the US Government money and they turned me down.

But this douche didn't just blow off some small tax issue like I did; he knew exactly what he was doing and figured he'd get away with it. He didn't say "Screw the IRS" to make a point or stand up for something; he did it because he was just greedy.

[megimoo]

Hell, if the guy held a press conference and explained why he didn't pay those taxes I would've admired him. I loathe the IRS; worthless pricks took over 3 grand of my money last year and still said I owed 350 bucks. I asked my tax guy; with this "Stimulus" check of 600 bucks coming my way, can't I tell the Government just keep my check and we'll call it even? They told me no. How retarded is that? I was actually volunteering to save the US Government money and they turned me down.

But this douche didn't just blow off some small tax issue like I did; he knew exactly what he was doing and figured he'd get away with it. He didn't say "Screw the IRS" to make a point or stand up for something; he did it because he was just greedy."It has been reported that Geithner made several tax payments soon after he learned he would be the nominee."

[marinejcksn]

"It has been reported that Geithner made several tax payments soon after he learned he would be the nominee."

Exactly. Which implies he knew what he did was illegal and now wants to "make good" on it before he takes office. A true piece of shit.

It's just like the Joe Biden thing. Remember during the Election Campaign how a few media sources started digging into how little Biden had given to charity the past year, something like 600 bucks when he made over a Hundred Grand? All of a sudden Senile Joe started making contributions....typical schmuck. :rolleyes:

[PoliCon]

But when Mcidiot owed back taxes on one of his eight houses ...it wasn't a problem for you hacks.....and he wanted to be President.When you own 8 houses - and so much more - it's easy to lose track of the confiscatory taxes you have been forced to pay. Quite another thing to forget to pay taxes when every pay check comes with a notation to PAY THEM. :rolleyes:

[AlmostThere]

The IRS will cancel the penalty if you write a letter requesting that they be abated. Most agents will not volunteer that information. A good tax preparer will be able to help you in that regard. The IRS will nickel and dime you when the amount of the tax is small but with large sums they will take less than the amount of the tax owed in some cases or they will be happy to take the tax and interest and waive the penalty. That's pretty chicken shit but that's how they operate.

I worked for the LA Dept. of Revenue; the feds and the state operate in the same manner.

I really appreciate the clarification but to be honest the "why?" was a rhetorical question. :o