Tag Archives: Timothy Geithner

Obama and “The Same Rules?” – Reason #57

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Only 114 Days Remaining!

“When Everyone Plays by the Same Rules”

How many times have we heard President Obama say:

“I believe that this country succeeds when everyone gets a fair shot, when everyone does their fair share, when everyone plays by the same rules. These aren’t Democratic values or Republican values. These aren’t 1 percent values or 99 percent values. They’re American values. And we have to reclaim them.”[i]

It is a fitting illustration of this Administration’s hypocrisy to note that as of September, 2010, Obama and his Administration were “reclaiming” these American values as follows:

41 White House Aides owed $831,000 in back taxes

1,971 members of Holder’s Dept. of Justice, owed $14,350,152 in overdue taxes

4,856 members of the Dept. of Homeland Security, owed $37,012,174 to the IRS

In all, federal employees throughout the U.S. owed one billion dollars in back taxes[ii]

Obama rails against so-called “millionaires and billionaires” (he really means everybody making over $250,000 per year) not paying their fair share.  Obama preaches the need for redistributing America’s wealth, in order to give everyone a fair shot.  But, at the end of the day, it appears that Obama and members of his Administration mean to promote American values only with our money – not theirs.

[i] President Barack Obama, (Dec. 6, 2011), White House web-site, Speeches & Remarks, Remarks by the President on the Economy in Osawatomie, Kansas, retrieved February 6, 2012 from http://www.whitehouse.gov/the-press-office/2011/12/06/remarks-president-economy-osawatomie-kansas

[ii] Andrew Malcolm (Sep. 10, 2010), LA Times Web-site, Political Commentary, Top of the Ticket, 41 Obama White House aides owe the IRS $831,000 in back taxes — and they’re not alone, retrieved February 6, 2012 from http://latimesblogs.latimes.com/washington/2010/09/congress-taxes-irs.html

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Say “Hi” To 800 New Friends at IRS – Reason #56

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Only 115 Days Remaining!

Takes One to Catch One?

Despite repeated warnings from the International Monetary Fund (IMF), from whom Tim Geithner received income from 2001 to 2004, Geithner reportedly failed to pay $34,000 in payroll taxes.  In response to a 2006 IRS audit, Geithner corrected his payroll tax errors for 2003 and 2004, but continued his withholding of proper payment for 2001 and 2002, until after he was vetted as Obama’s nominee for Treasury Secretary.[i]

What would happen to the average middle-class American  failing to pay payroll taxes for four years and then continuing to stiff the IRS for an additional four years?

No need to worry about that.  In Obama’s world, that behavior could put you in charge of the entire Treasury Department, including the IRS.  And, who better to hold other Americans accountable?  Incidentally, Geithner – a poster child for tax issues – plans to increase tax evasion prosecutions in 2012 and to aggressively pursue the collection of back taxes.  According to Geithner:

“A total of $332 million would be devoted to new Internal Revenue Service (IRS) enforcement efforts, including $128.1 million to add nearly 800 new IRS employees to combat… tax evasion and improve compliance with tax laws by businesses and high-income individuals.”

Really!  No hypocrisy here.

[i] Jackie Calmes, (Jan. 13, 2009) New York Times web-site, Politics, Geithner Questioned on Tax Returns, retrieved March 6, 2012 from http://www.nytimes.com/2009/01/14/us/politics/14geithner.html?pagewanted=all

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