Should Timothy Geithner Be Confirmed?

Re: Should Timothy Geithner Be Confirmed?

PostBy: jpete On: Thu Jan 22, 2009 9:13 pm

Devil505 wrote:
jpete wrote:When you are the head of the INTERNATIONAL MONEY FUND, you don't get to make "judgment errors" on whether or not you need to pay taxes. Are you that gullible or do you just say stuff to be contrary?


You totally misunderstood my point jpete.........The error in judgment I am referring to was President Obama's error in continuing to back Geithner once the unpaid tax matter was known to him.

(I have absolutely NO information as to Geithner's reasons for failing to pay....Legitimate or not)


You're right. I misunderstood. Sorry.
jpete
 
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Re: Should Timothy Geithner Be Confirmed?

PostBy: TimV On: Thu Jan 22, 2009 9:23 pm

Gee whats the problem???just because he cant keep his own finances straight he claims he needs to get to work on saving the whole countries finances. cant wait!!
Tis guy should have been booted as soon as it came to light he was trying to not pay his taxes ..Call it what you want he refused to pay them because it was money made outside the US...Why wasnt the IRS on his case to begin with. this went on for years .
So much for Obama and "clean new crew" Politics in Wshington as usual...same crap day one or last week in office
TimV
 
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Re: Should Timothy Geithner Be Confirmed?

PostBy: Yanche On: Thu Jan 22, 2009 10:47 pm

Richard S. wrote:
billw wrote:I guess to control the crooks you've got to hire a crook.


:lol: Well said, but I think we need to give him the benefit of the doubt. Having said that even though as Stockingfull mentioned he's supposedly one of the most qualified for the job assuming he's telling the truth it really brings into question at the very least thoroughness. I can only assume he has an accounting background and I'm sure any CPA would have picked up the discrepancy?
At his confirmation hearing one of the Senators got Geithner to name the tax program he used. It was Turbo Tax. I use Turbo Tax and can see how it might be possible for him to overlook his tax obligation. When you finally print out your return it also prints out the form for quarterly future tax payments. In his haste to file a return he could have just forgotten about it. A big mistake and a man of his stature and income should not have made it. In following years Turbo Tax just imports last years return and assumes you paid the taxes it calculated for last year. That might account for his multi-year mistake. If he had a professional tax firm prepare his taxes it would have never happened. Did he try and cheat? Only he knows.
Yanche
 
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Re: Should Timothy Geithner Be Confirmed?

PostBy: kootch88 On: Thu Jan 22, 2009 10:57 pm

I do taxes professionally and as an FYI, professional tax software also screws up. Last year my software did not move the state refunds to the 1040 even though I had all the data on the worksheets. I caught it when I got a nastygram rom the IRS and had to call all my clients to let them know. The strangest part is it only happened on a few returns. It also did the same thing for 06 on the same indivuals, but no others. Couldn't find the glitch but now know to check all data from the worksheets is the same as the 1040.

I'm not defending Gaethner, just stating it is a lot easier than you think. I also review taxes for folks that get them done at the HR mills and you would be surprised how many mistakes there are.
kootch88
 
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Re: Should Timothy Geithner Be Confirmed?

PostBy: Devil505 On: Thu Jan 22, 2009 11:08 pm

Yanche wrote:A big mistake and a man of his stature and income should not have made it.


Don't get me wrong......I have no information to think that Mr. Geithner is anything but an honorable man who made an innocent mistake. When I worked as an investigator for the IRS, I would always begin an interview with a taxpayer with the words..."According to our records...." I would never accuse someone of not paying or not filing until I was SURE that we (IRS) had not made a mistake, which was often the case. There can be many legitimate, perfectly innocent reasons for Mr. Geithner's failure to pay, & if he was applying for a job as an insurance salesman or a garbage collector, no one would care.
Problem is....He's applying for a sensitive job where just the chance that he is a tax cheat should be unacceptable. He wants to head the very agency that he stiffed........however innocent the reasons for that may be.
President Obama's entire election campaign was based on CHANGE from the (at least perceived) corrupt & hypocritical atmosphere in Washington.
Regardless of the reasons, the FACT is that Mr. Geithner failed to fully pay his income tax........PERIOD!...& now he wants confirmation to be the IRS's boss?!?!
(I have never failed to fully pay my taxes & I'll bet most of the members here, have never failed to fully pay their income taxes!)

It just doesn't pass my smell test, that's all....& I think President Obama would have been better advised to dump him as his Treasury Sec. nominee.
Devil505
 
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Re: Should Timothy Geithner Be Confirmed?

PostBy: tsb On: Thu Jan 22, 2009 11:22 pm

No. Hear me ? No
Reasons ? All of the above.
tsb
 
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Re: Should Timothy Geithner Be Confirmed?

PostBy: ken On: Fri Jan 23, 2009 2:00 am

He's not off to a good start with this. :lol:
ken
 
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Re: Should Timothy Geithner Be Confirmed?

PostBy: Devil505 On: Fri Jan 23, 2009 8:14 am

Hmmmm
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Devil505
 
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Re: Should Timothy Geithner Be Confirmed?

PostBy: harry coal On: Fri Jan 23, 2009 12:44 pm

:mad: Hell no I fell stongly that he avoided paying the taxes he owed. I have use turbo tax for years and they prompt you to list all of your income there is no way he didn't know that he owed taxes on all of his income. The man is tax cheat. If you have money in stocks get it out and put in coffee can and bury in the back yard. The elists running the country our covering there backsides and protecting there own. Oh! the coffee can will be worth more than paper money inside in few years, why because the printing presses at treasury dept. have running 24/7 since October can you say complete colapase of the enconmy. God help the grandkids. Call your senator and congressman like I have and see if you can get them take your call they don't wan't to talk!!!!
harry coal
 

Re: Should Timothy Geithner Be Confirmed?

PostBy: Devil505 On: Fri Jan 23, 2009 1:20 pm

Just to make my position clear, I think that continuing to back Geithner for Treasury Sec was a public relations mistake, but that every new administration is bound to have some "growing pains" in their first few days in office. I don't think this should be blown out of proportion & I am very satisfied with what I have seen so far, from the Obama Administration.
Devil505
 
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Re: Should Timothy Geithner Be Confirmed?

PostBy: gaw On: Fri Jan 23, 2009 3:54 pm

NO
gaw
 
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Re: Should Timothy Geithner Be Confirmed?

PostBy: mikeandgerry On: Fri Jan 23, 2009 4:23 pm

The reason they want him so bad is that

1. They claim he's the one who understands banking, wall st, economics, derivatives, securitization and this financial crisis the best and

2. He's a democrat.


Personally, I don't think anyone truly understands the mess we are in. I think the mess is the result of good intentions from all political sides. Essentially, the government thinks it's the master of the universe. It is not. It cannot alter human nature or nature itself. We haven't learned that lesson yet. Nature and economics follow their own course.

As for Geithner. He's a no. No ethics, that is. A little fudging or a little mistake is one thing but, tax evasion is another. By nature of his responsibilities, he should be held to a higher ethical standard. He explanations were rather pathetic.

Further exposing ethics concerns is the fact the he paid no penalties or interest on the back taxes. He's got friends in the IRS. Do we want him in charge of the IRS?
mikeandgerry
 
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Re: Should Timothy Geithner Be Confirmed?

PostBy: coaledsweat On: Fri Jan 23, 2009 5:17 pm

mikeandgerry wrote:1. They claim he's the one who understands banking, wall st, economics, derivatives, securitization and this financial crisis the best.


If he is such a financial genius, why is he using Turbotax?
coaledsweat
 
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Re: Should Timothy Geithner Be Confirmed?

PostBy: mikeandgerry On: Fri Jan 23, 2009 6:13 pm

coaledsweat wrote:
mikeandgerry wrote:1. They claim he's the one who understands banking, wall st, economics, derivatives, securitization and this financial crisis the best.


If he is such a financial genius, why is he using Turbotax?



Exactly.
mikeandgerry
 
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Re: Should Timothy Geithner Be Confirmed?

PostBy: Millworker On: Sat Jan 24, 2009 5:52 pm

mikeandgerry wrote:
coaledsweat wrote:
mikeandgerry wrote:1. They claim he's the one who understands banking, wall st, economics, derivatives, securitization and this financial crisis the best.


If he is such a financial genius, why is he using Turbotax?



Exactly.


That was my exact thought when I heard "he is the only one qualified to get us out of the financial mess." What a joke :down:
Millworker
 
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