Future Treasury Secretary Fails to Pay Taxes On-Time
Wednesday, January 14, 2009
Obama's Treasury Secretary choice is Timothy Geithner. He is optimistic that Geithner will get confirmed, in light of urgent efforts of Obama to revive the economy.
So what issue does Geithner have? Apparently, he is reported to have failed to pay $34,000 in taxes. Woops.. Would someone picked to become a 'Treasury Secretary" do that? Hopes were to have him confirmed prior to the inauguration of Obama next week, but now that most likely will not happen. The confirmation hearing was planned to have been completed by Tuesday, but now looks like Wednesday is a better date, but the Senate would still have to vote sometime after that, most likely the following week.
Another bottom line here. Yes, he admits to failing to pay "on time". But the fact is that he paid the taxes and the penalty to boot. He claims that it was a mistake and was corrected. How many other people reading this blog made mistakes doing their taxes or failed to pay taxes at all in an occasion or two?
Another reason why he should become the Treasury Secretary is because of his very strong support for him, by both the Democrats and Republicans and the US needs a person of his stature to oversee the IRS. Watch the following video by MSNBC.com with John Kerry, the new chairman of the Senate foreign relations committee and member of the finance committee backing Geithner.
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