How's that Geithner pick looking?

[leftofthedial]

:shrug:

[Zynx]

1. He still looks like he'll get confirmed from everything I see.

[leftofthedial]

8. he's a real good guy, que no?

well, at least he's as "real" and as "good" as one can be who has toiled on behalf of the IMF, the Fed, AIG, et al.

Good thing he wasn't boinking the servant-with-no-green-card. Now THAT would get his scrawny white ass in trouble.

[Zynx]

15. You can choose to look at those issues as superficially as you want.

I won't stop you from your delusions. They can be fun, can't they?

[leftofthedial]

24. "superficial"? "delusions"?

He's the one who has worked in the service of the capitalist, Wall Street, monetarist status quo his entire career AND THEN DIDN'T PAY HIS FRIGGING TAXES! This isn't about me, as much as you'd apparently like it to be.

[AlCzervik]

2. he has a tax problem.

[WI_DEM]

3. He'll probably be confirmed.

[backscatter712]

4. There are two types of these problems.

There are the deal-breakers - where bad behavior is exposed that calls the candidate's character into question.

My gut of truthiness thinks Geithner's issue is the other kind - the fixable kind. The tax problem seems fairly minor, was already straightened out with the IRS, and there's enough evidence to give him the benefit of the doubt.

[BeyondGeography]

5. Like a pain in the ass

[AtomicKitten]

6. The Obama team found the self-employment tax error and it was corrected.

They also feel that failing to vet the background of a member of his domestic personnel isn't enough to ixnay the nomination.

[Thrill]

7. He paid his taxes right?

So lets move. Don't let these Repukes control who is appointed. If the error was fixed. Lets move on

[Occam Bandage]

9. His taxes are a mild embarrassment, and sure to be fodder for Rush until

someone in the Obama administration actually fucks something up, but he'll most likely be confirmed.

[leftofthedial]

10. I know that I, for one,

am mildly embarrassed.

[Occam Bandage]

11. Between that and Richardson, I'm wishing Obama's team had done more thorough vetting

before they made their announcements.

[leftofthedial]

13. I just find it almost overwhelmingly ironic

that the proposed Secretary of the frigging Treasury doesn't pay his taxes.

[apnu]

16. Still their vetting has been better than McCains.

My point is, it could be a lot worse.

[CTyankee]

28. It does make you wonder what criteria was used to establish "passing muster."

These things look bad to us but are probably the LEAST of what the vetters saw in the backgrounds of people they were vetting. It just looks big to us...

[avaistheone1]

12. Mild embarrassment? What spin!!

This guy is going to be the top financial person in the country - and he didn't pay his self-employment taxes! How the hell is he going to explain his way out of this one?

[Thrill]

14. I think his situation was probably a honest mistake

How many companies don't take the Medicare and SS? Even if they don't take the Federal Income Tax. Apparently he paid the Federal Taxes but didn't do the Medicare and SS. I think thats a rare situation. He did pay it. I don't think it should keep him from getting the job.

And we really don't want Obama to have go find another Treasury Sec at this point. In my opinion it probably would just be Summers. So we better hope Geitner gets through this.

Don't let these Repukes run this confirmation. Obama let the committee know about this on Dec. 5th. Why the hell are they just objecting a couple days before his hearing? This is bullshit. They are trying to embarrass Obama.

[MyUserNameIsBroken]

17. Actually, what NPR said last night...

...was that he DID pay part of the FICA stuff--the "employee share." What he missed was the "employer share," which self-employed folks in that kind of position are supposed to cover as well. THAT's a mistake I can understand. It's still embarrassing in a financial guy, of course, but ask me how many engineers I know who couldn't change their oil. :)

[backscatter712]

21. Yeah. I'm thinking this was a basic mistake, and something which should be forgiven.

Quoth Albert Einstein: "The hardest thing in the world to understand is the income tax."

What made things confusing for Geithner is that he was working for the IMF, and since it was an international organization, Geithner was in the unusual situation of getting a W-2 like a normal employee, but not having the employer share of taxes paid by the IMF, meaning he had to pay self-employment tax.

And my understanding is that he did fix this problem and paid all his back taxes, so I'm giving him a pass on this one.

If it happens again, I may reevaluate my position on him though...

[European Socialist]

18. I agree. This isn't good.

[HiFructosePronSyrup]

19. Probably because his tax preparer didn't dot all the i's, and cross all the t's.

What, you think he was actually trying to defraud the government of $34,000?

[Zynx]

20. Exactly. It wouldn't make sense. He is undoubtedly financially secure enough that

sort of money wouldn't matter.

[backscatter712]

22. Yeah, he's filthy rich.

When the IRS asked him to pay up, he probably just cut them a check on the spot.

[HiFructosePronSyrup]

33. He finished paying the IRS when they sent him a bill two years ago.

This is a non-issue.

It's character assassination.

[backscatter712]

34. I agree. I don't see nefariousness here.

When your net worth is in the eight figures, bookkeeping errors fall in the five-figures.

[Occam Bandage]

23. I'm sure that's what it was, just like with Al Franken.

Still, it is kinda funny that he's going to be in a position of financial oversight...

[leftofthedial]

25. He should have gone to Liberty Tax Services.

H&R Block always screw up.

[polichick]

26. imo it's not promising when the guy you're hoping will get us out of this...

...financial pickle doesn't know enough to pay his own taxes ~ or just doesn't bother.

[leftofthedial]

27. harrrumph, ahem, no, it's just a "mild embarrassment"

It really is no big deal that the guy responsible for balancing our national checkbook and overseeing Wall Street's theft of our treasure is a tax cheat (or an incompetent--take your pick).

He'll skate through confirmation.

not to worry...




Imagine if this was a bush appointment.

[CTyankee]

29. It is funny actually. But I think you are being unkind.

It is ironic but hey, it happens. However, it is really nothing more than a minor infraction and he fixed it. Note the IRS is not penalizing him.

I think we can relax and get a good laugh over this. I for one don't think it impugns his ability to work on our nation's financial problems. Didn't we want the smartest mfs in the room? Well, we got one...

[polichick]

30. Does it really just "happen?" It has never happened to me - or to anyone I know...

I guess it just happens to fat cats. :P

[CTyankee]

31. Sorry to tell you, you're right. Fat cats really do screw up like this while we peons

obey. I don't worry about it too much unless it is something serious. This is not serious.

[goodhue]

32. looks bad from here

Tax snafu doesn't play well on main street despite all the beltway no big deal spin