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(RealClearPolitics)   Why history may be unkind to Timothy Geithner. Tax fraud is not mentioned   (realclearpolitics.com) divider line 32
    More: Interesting, Treasury Secretary Timothy Geithner, tax fraud, Steven Rattner, economic history, Federal Reserve Bank of Minneapolis  
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619 clicks; posted to Politics » on 28 Jan 2013 at 10:26 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-01-28 10:29:21 AM
RCP is where I go for unbiased analysis of Geithner's legacy.

Just like I go to the Atlanta History Museum for unbiased analysis of Sherman's legacy.
 
2013-01-28 10:29:38 AM
They probably pillory him as they did Greenspan.
 
2013-01-28 10:29:55 AM
img.timeinc.net
 
2013-01-28 10:40:49 AM

xnecron: RCP is where I go for unbiased analysis of Geithner's legacy


If RCP says something then the opposite is probably true. He was of one of the most important Treasury secretaries of all time.
 
2013-01-28 10:41:17 AM
History can be so cruel sometimes. Not many people know this, but a lot of history books are written by teenage girls.
 
2013-01-28 10:43:56 AM
Sounds like the author (who IIRC is an Austrian-school economist) is calling for the breakup of the big banks. If so, is that really the job of the Treasury Department to do so? I thought it was generally DOJ that does anti-trust actions.
 
2013-01-28 10:44:44 AM
Geithner's tax fraud is as obvious as the vote fraud going on in this country.
 
2013-01-28 10:49:26 AM

theknuckler_33: Geithner's tax fraud is as obvious as the vote fraud going on in this country.


Is this the same vote fraud that resulted in every single state having the same results as what polls predicted?
 
2013-01-28 10:52:07 AM

theknuckler_33: Geithner's tax fraud is as obvious as the vote fraud going on in this country.


Do I dare ask what the tax fraud assertion is about?
 
2013-01-28 10:53:44 AM
One thing we can say about our financial system in the wake of the crisis is that our biggest banks have gotten bigger. In an article published by the Federal Reserve Bank of St. Louis in November-December 2011, David C. Wheelock pointed out that the ten largest banks in the United States now hold nearly fifty percent of all deposits.

Gee, you mean to tell me the deposits that used to be held by the 471 banks that failed from the beginning of 2008 through the end of 2012 and had to go elsewhere largely went to the 10 largest banks that survived the financial crisis.

This is an outrage.
 
2013-01-28 10:54:37 AM

Arkanaut: theknuckler_33: Geithner's tax fraud is as obvious as the vote fraud going on in this country.

Is this the same vote fraud that resulted in every single state having the same results as what polls predicted?


Yes, exactly.
 
2013-01-28 10:55:21 AM

vygramul: theknuckler_33: Geithner's tax fraud is as obvious as the vote fraud going on in this country.

Do I dare ask what the tax fraud assertion is about?


You'd probably have to ask Subby.
 
2013-01-28 10:59:40 AM
He wrote TARP.
 
2013-01-28 11:01:24 AM
Also, is it tax fraud if you just don't pay your taxes? "Fraud" indicates that he actually submitted falsified reports with intent to defraud. From the description of the "errors" it does sound like a confusing situation which is unlike how every other employer in the country would probably handle it (he got a check from the World Bank reimbursing him for his social security taxes, which he paid to the government, but that was the employer's portion).
 
2013-01-28 11:04:34 AM

theknuckler_33: vygramul: theknuckler_33: Geithner's tax fraud is as obvious as the vote fraud going on in this country.

Do I dare ask what the tax fraud assertion is about?

You'd probably have to ask Subby.


Over several years, Treasury secretary nominee Timothy F. Geithner failed to pay Social Security taxes, even though he was advised by his employer to do so, signed an agreement indicating that he understood that such payments were his responsibility and received extra pay from his employer specifically for that purpose.

In his defense, he did immediately blame an inanimate object (Turbo-Tax Software).
 
2013-01-28 11:19:30 AM

Zeb Hesselgresser: theknuckler_33: vygramul: theknuckler_33: Geithner's tax fraud is as obvious as the vote fraud going on in this country.

Do I dare ask what the tax fraud assertion is about?

You'd probably have to ask Subby.

Over several years, Treasury secretary nominee Timothy F. Geithner failed to pay Social Security taxes, even though he was advised by his employer to do so, signed an agreement indicating that he understood that such payments were his responsibility and received extra pay from his employer specifically for that purpose.

In his defense, he did immediately blame an inanimate object (Turbo-Tax Software).


Well, I guess we know who Subby is.

Uh, hey, it wasn't 'fraud'.
 
2013-01-28 11:24:51 AM

Zeb Hesselgresser: theknuckler_33: vygramul: theknuckler_33: Geithner's tax fraud is as obvious as the vote fraud going on in this country.

Do I dare ask what the tax fraud assertion is about?

You'd probably have to ask Subby.

Over several years, Treasury secretary nominee Timothy F. Geithner failed to pay Social Security taxes, even though he was advised by his employer to do so, signed an agreement indicating that he understood that such payments were his responsibility and received extra pay from his employer specifically for that purpose.

In his defense, he did immediately blame an inanimate object (Turbo-Tax Software).


He failed to pay the employee portion. The money received from the WB was the employer portion which he properly sent to the government. Turbotax expects that when you receive a paycheck that the employer has already paid their portion of SS tax and so when Geithner entered the extra funds as SS taxes, Turbotax counted that as the employee portion. When he learned of the mistake he paid the back taxes and required penalties.

Truly he is history's greatest monster.

/Mom was a World Bank human resources officer. She knows a bit about the subject.
 
2013-01-28 11:28:10 AM

theknuckler_33:

Well, I guess we know who Subby is. Uh, no.

Uh, hey, it wasn't 'fraud'.


When:

your employer pays you additional money
tells you that is to cover your tax liability

and

you don't pay the tax liability,
but keep the money

If you're a high school drop out, maybe you didn't know better. If you're a graduate of Dartmouth, got your Masters in Economics from Johns Hopkins, it's fraud.
 
2013-01-28 11:47:53 AM

Zeb Hesselgresser: theknuckler_33:

Well, I guess we know who Subby is. Uh, no.

Uh, hey, it wasn't 'fraud'.

When:

your employer pays you additional money
tells you that is to cover your tax liability

and

you don't pay the tax liability,
but keep the money

If you're a high school drop out, maybe you didn't know better. If you're a graduate of Dartmouth, got your Masters in Economics from Johns Hopkins, it's fraud.


No, it's not. I'm not completely familiar with John Hopkins' curriculum for a masters in international economics but I'm guessing personal tax accounting is not a required course.

I screwed up my taxes a few years ago. My company was restructuring (consolidating accounting departments or some such stuff) and while I was continuously employed I was issued two W-2's, one for before the change and one for after. Since it was at the very end of the year, the one was much larger than the other. Well, I don't get physical W-2's in the mail, I log on the ipay to print out my W-2. I only printed out what I thought was the front page of my one and only w-2. Apparently there was a second page that showed a few thousand dollars worth of income. Since a w-2 was issued it was reported to the IRS but I didn't show it on my 1040. The IRS caught it about a year later and I ended up owing several hundred dollars. No penalty, no charges filed, I wasn't even required to give any sort of explanation.
 
2013-01-28 11:53:50 AM

Zeb Hesselgresser: theknuckler_33:

Well, I guess we know who Subby is. Uh, no.

Uh, hey, it wasn't 'fraud'.

When:

your employer pays you additional money
tells you that is to cover your tax liability

and

you don't pay the tax liability,
but keep the money

If you're a high school drop out, maybe you didn't know better. If you're a graduate of Dartmouth, got your Masters in Economics from Johns Hopkins, it's fraud.


It's either fraud or it's not. If it isn't for the high school drop-out, it isn't for anyone.

The I.R.S. has noted that many employees of international organizations, including foreign embassies and consular offices, have made mistakes in filing their taxes. For example, an I.R.S. notice in 2006 said that up to half of such employees had incorrectly filed their tax returns, making errors like failure to pay self-employment taxes. The I.R.S. offered a one-time settlement to resolve these issues.

Geithner was friggin' audited by the IRS in 2006 before Obama had even decided to run for President and paid the taxes he owed for '03 and '04. Just like anyone else, after that was over, he probably figured he was square. Obama's own team found the problems with 2001 and 2002 and Geithner paid those taxes also.

This is an outrage?
 
2013-01-28 12:43:14 PM

Zeb Hesselgresser: When:

your employer pays you additional money
tells you that is to cover your tax liability

and

you don't pay the tax liability,
but keep the money


THIS.
It actually is very simple.
 
2013-01-28 12:49:09 PM

max_pooper: Zeb Hesselgresser: theknuckler_33:

Well, I guess we know who Subby is. Uh, no.

Uh, hey, it wasn't 'fraud'.

When:

your employer pays you additional money
tells you that is to cover your tax liability

and

you don't pay the tax liability,
but keep the money

If you're a high school drop out, maybe you didn't know better. If you're a graduate of Dartmouth, got your Masters in Economics from Johns Hopkins, it's fraud.

No, it's not. I'm not completely familiar with John Hopkins' curriculum for a masters in international economics but I'm guessing personal tax accounting is not a required course.

I screwed up my taxes a few years ago. My company was restructuring (consolidating accounting departments or some such stuff) and while I was continuously employed I was issued two W-2's, one for before the change and one for after. Since it was at the very end of the year, the one was much larger than the other. Well, I don't get physical W-2's in the mail, I log on the ipay to print out my W-2. I only printed out what I thought was the front page of my one and only w-2. Apparently there was a second page that showed a few thousand dollars worth of income. Since a w-2 was issued it was reported to the IRS but I didn't show it on my 1040. The IRS caught it about a year later and I ended up owing several hundred dollars. No penalty, no charges filed, I wasn't even required to give any sort of explanation.


blah blah blah.

this isn't about a company screwing up.
the company told me he needed to do this.
they gave him the money.
he kept the money and didn't do what he was told to.
 
2013-01-28 12:49:54 PM

theknuckler_33: vygramul: theknuckler_33: Geithner's tax fraud is as obvious as the vote fraud going on in this country.

Do I dare ask what the tax fraud assertion is about?

You'd probably have to ask Subby.


I have it on good authority that submitter is trolling.
 
2013-01-28 12:56:25 PM

make me some tea: theknuckler_33: vygramul: theknuckler_33: Geithner's tax fraud is as obvious as the vote fraud going on in this country.

Do I dare ask what the tax fraud assertion is about?

You'd probably have to ask Subby.

I have it on good authority that submitter is trolling.


Truth != trolling...unless of course it is a democrat
 
2013-01-28 01:04:29 PM

tenpoundsofcheese: make me some tea: theknuckler_33: vygramul: theknuckler_33: Geithner's tax fraud is as obvious as the vote fraud going on in this country.

Do I dare ask what the tax fraud assertion is about?

You'd probably have to ask Subby.

I have it on good authority that submitter is trolling.

Truth != trolling...unless of course it is a democrat


Saying Geithner committed tax fraud != truth.
 
2013-01-28 01:05:32 PM

tenpoundsofcheese: Truth != trolling...unless of course it is a democrat


Is that so?
 
2013-01-28 01:12:07 PM

tenpoundsofcheese: max_pooper: Zeb Hesselgresser: theknuckler_33:

Well, I guess we know who Subby is. Uh, no.

Uh, hey, it wasn't 'fraud'.

When:

your employer pays you additional money
tells you that is to cover your tax liability

and

you don't pay the tax liability,
but keep the money

If you're a high school drop out, maybe you didn't know better. If you're a graduate of Dartmouth, got your Masters in Economics from Johns Hopkins, it's fraud.

No, it's not. I'm not completely familiar with John Hopkins' curriculum for a masters in international economics but I'm guessing personal tax accounting is not a required course.

I screwed up my taxes a few years ago. My company was restructuring (consolidating accounting departments or some such stuff) and while I was continuously employed I was issued two W-2's, one for before the change and one for after. Since it was at the very end of the year, the one was much larger than the other. Well, I don't get physical W-2's in the mail, I log on the ipay to print out my W-2. I only printed out what I thought was the front page of my one and only w-2. Apparently there was a second page that showed a few thousand dollars worth of income. Since a w-2 was issued it was reported to the IRS but I didn't show it on my 1040. The IRS caught it about a year later and I ended up owing several hundred dollars. No penalty, no charges filed, I wasn't even required to give any sort of explanation.

blah blah blah.

this isn't about a company screwing up.
the company told me he needed to do this.
they gave him the money.
he kept the money and didn't do what he was told to.


My company did not screw up either. They issued me two W-2's. I inadvertently ignored one. IRS figured it out and asked to refile. I did and owed a few hundred bucks.

Obama' vetting team discovered an error that apparently is very common. Geithner paid the taxes he owed.
 
2013-01-28 01:18:39 PM

theknuckler_33: tenpoundsofcheese: make me some tea: theknuckler_33: vygramul: theknuckler_33: Geithner's tax fraud is as obvious as the vote fraud going on in this country.

Do I dare ask what the tax fraud assertion is about?

You'd probably have to ask Subby.

I have it on good authority that submitter is trolling.

Truth != trolling...unless of course it is a democrat

Saying Geithner committed tax fraud != truth.


I am stuck with paying 2007 taxes that my ex failed to pay at the time. I guess that makes me a "tax cheat" too?
 
2013-01-28 01:26:38 PM

make me some tea: theknuckler_33: tenpoundsofcheese: make me some tea: theknuckler_33: vygramul: theknuckler_33: Geithner's tax fraud is as obvious as the vote fraud going on in this country.

Do I dare ask what the tax fraud assertion is about?

You'd probably have to ask Subby.

I have it on good authority that submitter is trolling.

Truth != trolling...unless of course it is a democrat

Saying Geithner committed tax fraud != truth.

I am stuck with paying 2007 taxes that my ex failed to pay at the time. I guess that makes me a "tax cheat" too?


Only if you're a Democrat. If you're a Republican, you're being harrassed by Obama's brownshirted tax confiscation squad.
 
2013-01-28 02:24:25 PM

make me some tea: theknuckler_33: tenpoundsofcheese: make me some tea: theknuckler_33: vygramul: theknuckler_33: Geithner's tax fraud is as obvious as the vote fraud going on in this country.

Do I dare ask what the tax fraud assertion is about?

You'd probably have to ask Subby.

I have it on good authority that submitter is trolling.

Truth != trolling...unless of course it is a democrat

Saying Geithner committed tax fraud != truth.

I am stuck with paying 2007 taxes that my ex failed to pay at the time. I guess that makes me a "tax cheat" too?



In Timmy's case, he knew he was supposed to pay, he was given the money to make the payments and he pocketed the money and didn't pay.

Your false comparison is false. If your ex told you she didn't pay and you filed anyway, you are a tax cheat.
 
2013-01-28 06:50:25 PM

tenpoundsofcheese: In Timmy's case, he knew he was supposed to pay, he was given the money to make the payments and he pocketed the money and didn't pay.

Your false comparison is false. If your ex told you she didn't pay and you filed anyway, you are a tax cheat.


Really? Because so long as you take notice of the error and pay the difference plus any penalty, in real life it just makes you someone who didn't do their taxes right.
 
2013-01-29 01:35:47 PM

tenpoundsofcheese: make me some tea: theknuckler_33: tenpoundsofcheese: make me some tea: theknuckler_33: vygramul: theknuckler_33: Geithner's tax fraud is as obvious as the vote fraud going on in this country.

Do I dare ask what the tax fraud assertion is about?

You'd probably have to ask Subby.

I have it on good authority that submitter is trolling.

Truth != trolling...unless of course it is a democrat

Saying Geithner committed tax fraud != truth.

I am stuck with paying 2007 taxes that my ex failed to pay at the time. I guess that makes me a "tax cheat" too?


In Timmy's case, he knew he was supposed to pay, he was given the money to make the payments and he pocketed the money and didn't pay.

Your false comparison is false. If your ex told you she didn't pay and you filed anyway, you are a tax cheat.


Someone's got a GED in tax law.
 
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