Thursday, January 22, 2009

Secretary of the Treasury says you don't have to pay your taxes

Caught your attention? Good. Because he didn't pay his taxes, and he is now going to be the Secretary of the Treasury (you know, man in charge of the IRS, one of the signatures on your money). Is that completely absurd? I think so!

Would you let a child molester be an in home daycare for your children? Would you let a convicted drug dealer run a pharmacy? Those are a bit harsh, but it is necessary to bring enlightenment to the situation. Would you let your family ride in a taxi cab with a driver who has no license and 4 convictions of DUI? Not willingly.

Yet we are allowing this tax cheat and thief be in charge of our monetary establishment in the world's most powerful country.

I say thief and cheat because he effectively stole money. Cheating on your taxes is almost encouraged any more (which is likely why all but 5 senators breezed this guy through), but theft is not. Here is why:

Mr. Geithner worked for the International Monetary Fund (IMF) in the early 2000's. They are paid as self employed personnel (much like a 1099 for services rendered in US). This means you have to pay your own employment taxes and SSA taxes that your traditional employer ponies up for most of us. Well, to offset that, the IMF gives their self employed personnel an extra allowance, known as a "gross-up", to cover those self employment taxes, also known as an Annual Tax Allowance Request. Each employee can fill out a form with basic information on it, and then the IMF will cut them a check for their estimated amount of taxes due.

The IMF goes through several steps to inform their people that they have to pay their own taxes and then a separate form to apply for the Annual Tax Allowance Request. At the end of this form, where he had to sign, is the statement, "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 (IMF)." Mr. Geithner signed the form every year for 4 years. He accepted the allowance payments for 4 years. He didn't pay the tax for 4 years.

He claims he did not know he had to pay these taxes. Either he cannot read, didn't care to read, or is a crook. In any case, is this the guy you want in charge of your federal dollar pocket book?

Did I mention that one of my Senators voted to accept him? He is going to get a piece of my mind. Won't be voting for him again!

by Das Goob! Now listen!

-"Life is hard. It's harder if you are stupid" John Wayne

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