Actually I think it is totally overblown. If you have ever been in tax litigation or negotiation with the IRS after being audited, it can literally take years to get it straightened out, and the communication with the agency is poor, at best. Put it this way. I was audited in late 2007, and the back and forth with them, what is owed, and what is not owed, is still going on to this day. I am still waiting for feeback from them from out last round of communication. I have had to extend several times because they have not got their shit together. One round of paperwork, they claimed they never received even though I have a receipt for it from the US postal service that shows it was signed for. That is how bad it can be. Secondly I would like to point out that the amount of discrepetency may seem like a lot of money to most folks. $37,000 seems like a lot doesn't it? Well I can guarantee you that with the amount of money that a guy who is being considered for that position makes, it is a drop in the bucket, probably not even a few percent of what he earns in a year. Probably less than 1% actually. So to us it seems like a lot. Not to the rich.
They IMF gives their contracted employees that money SPECIFICALLY to pay taxes, since IMF doesn't tax their contracted employees. Employees have to sign a contract that states that the money will be used to pay taxes. I don't see how it is overblown considering the above, and I also don't see how it can be overblown considering the guy is going to oversee the freaking IRS????!!!!
I think the lesson is that the tax code needs to be simplified if the secretary of the treasury can't do his taxes. Perhaps Mr. Geithers will pass that advice along to his new boss, but I wouldn't hold my breath expecting improvements.
Amen to that. Of that I'm not so sure. A lot of pretty liberal European countries have made huge strides to simplify their tax code over the past decade. They say only Nixon could go to China. Maybe only Obama could fix the tax code. After, of course, he finishes parting the Red Sea.
Another historic first for the Obama administration. The first confessed tax cheat to become Treasury Secretary. Aim high, America!
I'm sure the IRS will understand if any of us evade our tax responsibilities. Call it the Geithner Deduction. I still can't quite wrap my brain around the idea that a guy who knowingly ducked his tax responsibilities is now in charge of the IRS. I wonder how Wesley Snipes feels about this?
Where was this outrage when Bush was appointing every jackass who snorted a line of coke with him in college? -Pop
What does Bush have to do with Obama appointing a confessed tax cheat as the Treasury Secretary. The Bush comparisons are sooooo January 19th...
