Boom Crunch Crash

The classical Marxist blog about the crisis

Tax dodger to run Treasury?

Posted by Steve Palmer on January 14, 2009

The US Department of the Treasury is run by the Secretary of the Treasury. It operates the Mint, which prints and coins currency and manages the government’s borrowing. It also manages the Internal Revenue Service – IRS – which collects taxes. Now a tax cheat is about to take charge there.

Timothy Geithner short paid his new employer by $17,230 in 2003 and 2004 according to the IRS, which he will be running. The Obama transition team learned that he also owed a further $25,970 for 2001 and 2002, but claimed it was common mistake. Republicans quickly pointed out that the IMF – his then employer – repeatedly emphasized the need for employees to cough up their taxes. He also dodged on penalties for early withdrawal from a retirement plan, small-business, charitable deductions, personal expenses and child deductions. In addition, he employed an immigrant housekeeper while her work authorization papers were expired.

Of course everyone is making excuses – ‘just a mistake’, ‘all is now in order’, blah blah. These are the same people who virtually incinerate ‘Welfare cheats’. Capitalism’s hypocrisy and cynicism knows no bounds!

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