Geithner apologizes to Congress

[HakunaMatata2]

Geithner has just offered an apology to Congress for not paying $34,000 in taxes in an attempt to become our next Treasury Secretary. I hope that he will not be confirmed and someone else chosen in his place.

 

[happygirl]

I agree, he has no business running the treasury when he can't even pay his own taxes

 

[Mr Man]

I agree and am amazed at the number of politicians, journalists and pundits saying "It was an honest mistake".

There was nothing honest about it.

He needs to go.

 

[Laugh O. Grams]

Asinine move on Geithner's part (not paying taxes) but don't hold your breath...he's going to be confirmed. I'd prefer the Obama team would pick someone else, but I guess they all can't be flawless.

 

[Laura]

Asinine move on Geithner's part (not paying taxes) but don't hold your breath...he's going to be confirmed. I'd prefer the Obama team would pick someone else, but I guess they all can't be flawless.

I totally agree.

 

[Chicago526]

I've got mixed feelings on it. From everything I've heard, he's really qualified, but the unpaid taxes does bother me very much.

 

[JessR]

Im sure half of congress does not pay taxes. He will be confirmed. They just need to put on a good show for everyone.

 

[wardfamily1]

Newt was on the radio this morning talking about Geithner and made an excellent point. There are 305million people in the U.S., I'm sure there are plenty of qualified people for that position who never evaded their taxes like Geithner.

Geithner was told for years he needed to pay these taxes and chose not to UNTIL he was named for this position. THEN 'someone' waved $34K in penalties and only made him pay $14K-the original amount of the taxes owed. If this was Average Joe business owner, he'd probably be in jail.

All this and BO wants to put this guy in charge of the IRS?
It's about as smart a putting the fox in charge of the hen house.

 

[luvmy3]

Geithner was told for years he needed to pay these taxes and chose not to UNTIL he was named for this position. THEN 'someone' waved $34K in penalties and only made him pay $14K-the original amount of the taxes owed. If this was Average Joe business owner, he'd probably be in jail.

And don't forget "average Joe" would be raked through the coals in the media and here on the DIS

 

[DancingBear]

It was a mistake. Two of the years that Geithner failed to pay the taxes his taxes were prepared by an accountant, who did not figure this out. This error among folks working overseas was common enough that the IRS initiated a special program to resolve tax problems of folks in Geithner's situation:

http://www.politico.com/news/stories/0109/17468.html

Of course they can't all be flawless. Who among us is?

 

[Laugh O. Grams]

Newt was on the radio this morning talking about Geithner and made an excellent point. There are 305million people in the U.S., I'm sure there are plenty of qualified people for that position who never evaded their taxes like Geithner.

Geithner was told for years he needed to pay these taxes and chose not to UNTIL he was named for this position. THEN 'someone' waved $34K in penalties and only made him pay $14K-the original amount of the taxes owed. If this was Average Joe business owner, he'd probably be in jail.

All this and BO wants to put this guy in charge of the IRS?
It's about as smart a putting the fox in charge of the hen house.

Actually, average Joe would also be asked to pay what he owed and, provided he did so, plus interest, as Geithner did, he wouldn't spend a second inside a courthouse, much less jail. However, that doesn't excuse Geithner from making a piss poor decision, apparently in four consecutive years....

 

[luvmy3]

It was a mistake. Two of the years that Geithner failed to pay the taxes his taxes were prepared by an accountant, who did not figure this out. This error among folks working overseas was common enough that the IRS initiated a special program to resolve tax problems of folks in Geithner's situation:

http://www.politico.com/news/stories/0109/17468.html

Of course they can't all be flawless. Who among us is?

What about the other 2 years? It said he failed to pay taxes from 2001 to 2004.

 

[Disneycrazymom]

Seems like if he was really qualified to run the IRS he would not have made an honest mistake paying his own taxes.

I think it would be better not to rush but to find someone who is really qualified. Even a few weeks of waiting and looking will not cause as much difficulty as putting someone in charge who doesn't understand the system.

 

[Duckfan-in-Chicago]

Did he say he was sorry or really really sorry? It makes a difference to me.

He has to be confirmed. I hear he's the only guy on the planet who's smart enough to understand TARP. The lawmakers who funded it don't even know what it is.

 

[wardfamily1]

Actually, average Joe would also be asked to pay what he owed and, provided he did so, plus interest, as Geithner did, he wouldn't spend a second inside a courthouse, much less jail. However, that doesn't excuse Geithner from making a piss poor decision, apparently in four consecutive years....

His non-payment goes back as far as 2001. My point was that he did NOT pay interest, only the original amount. Someone waived his interest/penalties. That would not happen with Average Joe Citizen.

Geithner CHOSE not to pay these taxes, he was well aware of them. I'm sure Obama can find another person for this position since Geithner has proven he can't be trusted to make honest decisions.

 

[wardfamily1]

And don't forget "average Joe" would be raked through the coals in the media and here on the DIS

No kidding. Maybe I can stop paying my taxes then I'll have Harry Reid tell everyone it was just 'a little hiccup.'

 

[DancingBear]

What about the other 2 years? It said he failed to pay taxes from 2001 to 2004.

Those years Geithner did his taxes himself, probably with Turbotax or similar software, and didn't catch the error. The experts in the article said even very expensive tax software might not catch this.

 

[DancingBear]

Seems like if he was really qualified to run the IRS he would not have made an honest mistake paying his own taxes.

I think it would be better not to rush but to find someone who is really qualified. Even a few weeks of waiting and looking will not cause as much difficulty as putting someone in charge who doesn't understand the system.

The "system" that Geithner is to be in charge of is a lot bigger than this particular income tax issue. We need someone who has some understanding of the economy, not a really good tax accountant.

 

[DancingBear]

His non-payment goes back as far as 2001. My point was that he did NOT pay interest, only the original amount. Someone waived his interest/penalties. That would not happen with Average Joe Citizen.

Actually, that happens all the time.

The 2001-2002 taxes really weren't even payable anymore, since they are past the limitations period. The IRS normally won't accept those back payments.

 

[Disneycrazymom]

The fact that it is bigger all the more proves the point that he is not qualified. If he can't understand the small tax system no way can you understand the big system. I am tired of there always being some excuse. We are all expected to pay our taxes. If we don't do it properly there are consequences. The consequence for him is that people don't think he can do the job.