http://bluecrabboulevard.com/2009/01/14/serious-problem/

The Democratic party powers that be and the media are downplaying the sudden problems of Timothy Geithner. The nominee for the position of Obama’s Treasury Secretary, is suddenly under some fire for failing to file taxes from 2001 to 2004 and for having an illegal worker on his payroll. But, these are not minor issues.

But Geithner’s tax troubles are more worrisome for his confirmation than Baucus lets on–and not just because the Internal Revenue Service is part of the Treasury Department.

According to the Senate committee’s report, Geithner “recently filed amended tax returns” for each tax year from 2001 through 2006. However, the report doesn’t specify when these returns were filed, leaving open the question about how long Geithner knew about the improprieties before he fixed them.

On Dec. 5, Obama’s transition team told Finance Committee staff that Geithner hadn’t paid social security or self-employment taxes on income received from the International Monetary Fund from 2001 to 2004, the report says. Three years ago, the IRS audited Geithner for tax years 2003 and 2004, which resulted in him paying back taxes and interest–but no penalties–totaling $16,732.

However, Geithner voluntarily amended his 2001 and 2002 returns only after Obama expressed interest in nominating him to the Treasury post. The total bill this time: $25,970.

Ok, let’s put aside the illegal worker for a moment. (Someone worked for him and his family that had legal status when hired which lapsed - Geithner was apparently aware that the status had changed, but the person involved eventually regained legal status.)

The tax issue is NOT minor, nor is it excusable. The IMF gives explicit directions to all employees on how to handle their taxes. There is also a very major point in all this.

Are you seriously expecting us to be confident in a Secretary of the Treasury who hasn’t the sense to hire an accountant or tax attorney? I am not a member of the “governing elite” and I am damn sure not rich, but I have had an accountant, attorney or both retained for more than 20 years. I have never, not once, failed to meet my tax obligations and have paid an expert to take care of that for me for two decades or better. It costs very little in the great scheme of things but has kept me completely out of trouble to date.

But we’re supposed to excuse someone with power over the treasury of the United States for not having the same ability? This is a serious problem. It is not a no never mind little problem, at all. Despite how the press and the Democrats are spinning it. I really don’t want a man in that office who is either too cheap to hire an expert when needed or too cocky about his own - already disprove - ability to handle it all himself.

This is two nominees with problems - that we know of. Makes you wonder what else has been swept under the rug by a fawning press corps, doesn’t it?More...

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