Obama Treasury nominee

[blackangst1]

Originally posted by: Rainsford

Originally posted by: Ocguy31
Obama's picks are some of the best entertainment each week.

For me too. Only in my case what's entertaining is to see just what conservativism has turned into in this country. You guys do NOTHING but constantly smear the other side with lame "gotcha" politics. Your reactionary approach to every single issue obviously doesn't sit too well with most Americans either, which might explain the epic ass-kicking in the last two elections.

I'm not saying you're always wrong with the points you're trying to make, but for the love of God, would it be possible for you to do something? Instead of providing intelligent opposition, you guys are basically the political equivalent to drunken frat boys throwing junk onto the field during a football game.

Ah shit youre right. Dems dont do this at all. On this board either.

Our bad.

Funny shit though

 

[Genx87]

/facepalm

 

[winnar111]

Originally posted by: Rainsford

Originally posted by: Ocguy31
Obama's picks are some of the best entertainment each week.

For me too. Only in my case what's entertaining is to see just what conservativism has turned into in this country. You guys do NOTHING but constantly smear the other side with lame "gotcha" politics. Your reactionary approach to every single issue obviously doesn't sit too well with most Americans either, which might explain the epic ass-kicking in the last two elections.

I'm not saying you're always wrong with the points you're trying to make, but for the love of God, would it be possible for you to do something? Instead of providing intelligent opposition, you guys are basically the political equivalent to drunken frat boys throwing junk onto the field during a football game.

Gotcha politics like whining about 'Mission Accomplished'?

 

[Stoneburner]

This can't be written off very easily. THe mistake correlates directly with the very office he is to hold.

Bring in Bernie Madoff!

 

[GroundedSailor]

Originally posted by: gar3555
My Way News Report


"President-elect Barack Obama's choice to run the Treasury Department and lead the economic rescue effort disclosed to senators Tuesday that he failed to pay $34,000 in taxes from 2001 to 2004, a last-minute complication in an otherwise smooth path to confirmation..."

Is this really the guy we want helping get us out of this financial mess. I guess he can't be any worse than what we had. Seems though we would want someone more fiscally responsible.

1099's can be problematic.

I had taken a certain amount of money from my company when I bought a house. The next year the company decided to forgive the 'loan' and gave me a 1099 Misc for the amount. I explained the situation to my accountant and this was reported on my taxes as 'other income'. We paid federal taxes on the amount.

More than a year later I get a notice from IRS for SE Taxes (and penalties). Discussed this issue at length with the IRS and even they agreed this was a gray area. Eventually the IRS agreed to withdraw the claim and I didn't have to pay.

I'm not trying to defend the nominee. If he's wrong then he's wrong and should pay the price - be it losing the nomination. I'm just pointing out that not everything is black and white and 1099's can be subjective.

 

[spidey07]

Originally posted by: Rainsford

Originally posted by: Ocguy31
Obama's picks are some of the best entertainment each week.

For me too. Only in my case what's entertaining is to see just what conservativism has turned into in this country. You guys do NOTHING but constantly smear the other side with lame "gotcha" politics. Your reactionary approach to every single issue obviously doesn't sit too well with most Americans either, which might explain the epic ass-kicking in the last two elections.

I'm not saying you're always wrong with the points you're trying to make, but for the love of God, would it be possible for you to do something? Instead of providing intelligent opposition, you guys are basically the political equivalent to drunken frat boys throwing junk onto the field during a football game.

lololol!

Sarah Palin anybody!!!???

 

[Farang]

Originally posted by: spidey07

Originally posted by: Rainsford

Originally posted by: Ocguy31
Obama's picks are some of the best entertainment each week.

For me too. Only in my case what's entertaining is to see just what conservativism has turned into in this country. You guys do NOTHING but constantly smear the other side with lame "gotcha" politics. Your reactionary approach to every single issue obviously doesn't sit too well with most Americans either, which might explain the epic ass-kicking in the last two elections.

I'm not saying you're always wrong with the points you're trying to make, but for the love of God, would it be possible for you to do something? Instead of providing intelligent opposition, you guys are basically the political equivalent to drunken frat boys throwing junk onto the field during a football game.

lololol!

Sarah Palin anybody!!!???

Palin is a prime example.. a complete dunce that conservatives react to by trying to compare her to Margaret Thatcher (laughable) or make all kinds of lame excuses for why she is the next big thing.

 

[Budmantom]

Originally posted by: Red Dawn
According to the article on CNN it was Obama's team that informed the committee of this "error". Still it seems that for the Head of the Treasury we'd need someone who'd be competent enough to do his own taxes. I wonder what they see in him that makes them think he's the man for the job.

This is Barrack Hussein Obama.... he likes to surround himself with people like this.

 

[Moonbeam]

Originally posted by: JS80

Originally posted by: Moonbeam

Originally posted by: JS80

Originally posted by: Moonbeam
Well there are crooks and there are people with complecated financial dealings that can lead to tax errors. Let us hope this isn't the former.

If you're 1099 and you leave out the SE tax, whether you did it on purpose or on accident you have no business being a Treasury Sec.

In my world things aren't done on accident, they are done by accident. The language seems to be drifting. You assume, of course, that he did his own taxes, no?

I have to assume he did his own taxes because no tax accountant would make such a rudimentary mistake.

Perhaps you are right, perhaps not.

 

[kylebisme]

I highly doubt he did his own taxes, and accountants make mistakes. Granted, it could have been his fault for not giving the accounting all the necessary info, but this news alone doesn't rightly say anything about the man's ability to fill the position.

 

[Farang]

You have to love executive party transitions.. the reactions to events are exactly the same, but inverted.

 

[sandorski]

oops, that's embarrassing. He seems to have been correcting the situation, so no shenanigans seem to be afoot. His Immigrant Worker situation would seem like the bigger issue. :shrug;

 

[Red Dawn]

Originally posted by: Ocguy31

Originally posted by: Rainsford

Originally posted by: Ocguy31
Obama's picks are some of the best entertainment each week.

For me too. Only in my case what's entertaining is to see just what conservativism has turned into in this country. You guys do NOTHING but constantly smear the other side with lame "gotcha" politics.

Ah, so we shouldnt comment on horrible choices that are being made?



Nothing to see here folks, move along.

Who's to say it's a horrible choice? On the surface other choices for Cabinet positions have looked like great choices only to turn out to be terrible. Rumsfield, Ashcroft, Alberto Gonzales, Janet Reno, James Watt and Robert McNamara come to mind. This guy might be the balls despite the dealio with his taxes. I think the Illegal worker is a non factor.

 

[rudder]

Originally posted by: Atomic Playboy
Taxes are for poor people.

and Wesley Snipes.

 

[Jhhnn]

Righties really are outrage addicts.

Geithner paid taxes on the income at the time, as Grounded Sailor points out, and didn't dispute when the IRS classified it slightly differently down the road- he paid the difference on demand. Such occurrences are extremely common wrt complex returns on large incomes. Chances of him having prepared his own return are pretty much zero.

The bit about the housekeeper is much the same. From the article-

Geithner also didn't realize a housekeeper he paid in 2004 and 2005 did not have current employment documentation as an immigrant for the final three months she worked for him, the transition official said.

He didn't knowingly hire an illegal, the housekeeper allowed her documentation to lapse during the course of employment. He probably rode in a taxi whose operator had allowed their driver's license to lapse, too... The Horror!

That's it? That's all ya got? I'm not particularly thrilled with the choice of Geithner, either, but this is nothing- zero, zip, nada.

Y'all need to get over it and yourselves, find a new pitch other than sour grapes and "we hate de gubmint!" if you want to win again somewhere down the road...

 

[NeoV]

Jhhnn, don't let facts get in the way of the righties circle-jerk, you'll kill their mood

 

[eleison]

Originally posted by: Farang

Originally posted by: spidey07

Originally posted by: Rainsford

Originally posted by: Ocguy31
Obama's picks are some of the best entertainment each week.

For me too. Only in my case what's entertaining is to see just what conservativism has turned into in this country. You guys do NOTHING but constantly smear the other side with lame "gotcha" politics. Your reactionary approach to every single issue obviously doesn't sit too well with most Americans either, which might explain the epic ass-kicking in the last two elections.

I'm not saying you're always wrong with the points you're trying to make, but for the love of God, would it be possible for you to do something? Instead of providing intelligent opposition, you guys are basically the political equivalent to drunken frat boys throwing junk onto the field during a football game.

lololol!

Sarah Palin anybody!!!???

Palin is a prime example.. a complete dunce that conservatives react to by trying to compare her to Margaret Thatcher (laughable) or make all kinds of lame excuses for why she is the next big thing.

How's the job search going? Yea, I hear you brother.. thank god those conservatives are out of office... this economy is going to turn around as quick as possible with the new wave of liberalism :thumbsup: Don't forgot your hard hat Reap what you sow... eom..

 

[GroundedSailor]

Originally posted by: Jhhnn
Righties really are outrage addicts.

Geithner paid taxes on the income at the time, as Grounded Sailor points out, and didn't dispute when the IRS classified it slightly differently down the road- he paid the difference on demand. Such occurrences are extremely common wrt complex returns on large incomes. Chances of him having prepared his own return are pretty much zero.

The bit about the housekeeper is much the same. From the article-

Geithner also didn't realize a housekeeper he paid in 2004 and 2005 did not have current employment documentation as an immigrant for the final three months she worked for him, the transition official said.

He didn't knowingly hire an illegal, the housekeeper allowed her documentation to lapse during the course of employment. He probably rode in a taxi whose operator had allowed their driver's license to lapse, too... The Horror!

That's it? That's all ya got? I'm not particularly thrilled with the choice of Geithner, either, but this is nothing- zero, zip, nada.

Y'all need to get over it and yourselves, find a new pitch other than sour grapes and "we hate de gubmint!" if you want to win again somewhere down the road...

The difference is I disputed the IRS claim and they eventually backed down. (No I didn't ask for any mercy or anything, just argued my points and was prepared to pay if the IRS insisted). Geithner didn't and had to pay up. Just goes to show that even with the IRS everything is not cut and dried and different interpretations of the same issue are possible.

 

[BoberFett]

Originally posted by: Jhhnn
Righties really are outrage addicts.

Yeah, it was those damn righties around here who have been pissing and moaning for 8 solid years.

Oh wait, that was you lefty dumbasses who would complain if you didn't like the color of Bush's tie.

 

[GroundedSailor]

Originally posted by: BoberFett

Originally posted by: Jhhnn
Righties really are outrage addicts.

Yeah, it was those damn righties around here who have been pissing and moaning for 8 solid years.

Oh wait, that was you lefty dumbasses who would complain if you didn't like the color of Bush's tie.

No, just the way he ran the country is enough to complain about. In fact the majority of the country is doing just that.

 

[waggy]

Originally posted by: Ocguy31
Didnt the resident libbies make fun of Joe the Plumber for not paying taxes?

yeah but that was diffrent. that was for obama.




if he has tax problems he shouldnt be heading up treasury. But he will be heading it.

 

[gar3555]

1/14/2009
UPDATE:
Obama says yes

"President-elect Barack Obama says he expects Timothy Geithner to win Senate confirmation as treasury secretary revelations of tax problems....Senators' comments suggested that Geithner's tax troubles are being viewed on Capitol Hill more as embarrassing mistakes than as disqualifying misdeeds. That's despite the fact that tax problems have sunk other government nominees, including Zoe Baird, Bill Clinton's choice for attorney general, who stepped aside when word leaked that she had hired illegal immigrants as household workers and failed to pay their Social Security taxes."

Kind of my feelings, this is more of an embarrassment, then a disqualification.

 

[Mxylplyx]

These former executives make so much money from so many different places, tax errors are almost unavoidable. I dont read too much into this. The green card of his housekeeper expired well after he had hired her, so that is a non issue as well.

 

[Fern]

He failed to pay self-employment taxes for money he earned 2001 to 2004 while working for the IMF, according to materials released by the Senate committee. In 2006, the IRS notified him that he owed $14,847 in self-employment taxes and $1,885 in interest from 2003 and 2004, which he paid after an audit. The IRS waived penalties for those tax years.

Transition officials discovered last fall that Geithner also had not paid the taxes in 2001 or 2002. He paid $19,176 in back taxes and $6,794 in interest for 2001 and 2002 several days before Obama announced his choice, the committee documents showed. All told, Geithner had failed to pay $34,023 in self-employment taxes for the years 2001 to 2004.

Geithner told Obama's team and senators that an accountant had reviewed his tax returns after Geithner prepared them and didn't discover the problem.

Tom Ochsenschlager, vice president of tax for the American Institute of Certified Public Accountants, said it would be difficult for someone preparing a tax return for a self-employed person to skip the Social Security and Medicare tax lines.

"It's such a basic mistake that I kind of wonder if we know all the facts," Ochsenschlager said of Geithner's situation.

This ain't a gray area.

Upon finding out he owed for 2003 & 2004 he still 'ignored' years 2001 & 2002. Not impressive IMO, and might look a bit dishonest. Why didn't he then correct for those other 2 years?

Oh, and if an accountant had reviewed the tax return after Geithner had prepared it they would have been required by law to sign it. I wonder if there's an accountant's signature on those tax returns?

Fern

 

[Rainsford]

Originally posted by: spidey07

Originally posted by: Rainsford

Originally posted by: Ocguy31
Obama's picks are some of the best entertainment each week.

For me too. Only in my case what's entertaining is to see just what conservativism has turned into in this country. You guys do NOTHING but constantly smear the other side with lame "gotcha" politics. Your reactionary approach to every single issue obviously doesn't sit too well with most Americans either, which might explain the epic ass-kicking in the last two elections.

I'm not saying you're always wrong with the points you're trying to make, but for the love of God, would it be possible for you to do something? Instead of providing intelligent opposition, you guys are basically the political equivalent to drunken frat boys throwing junk onto the field during a football game.

lololol!

Sarah Palin anybody!!!???

I don't know what that means...

And as Farang said, Palin is a perfect example of what I'm talking about. Lefty pundits claiming she was a bad choice for the Republicans are wrong...she was the PERFECT modern Republican. All bluster, no real position or argument.