Today BO's financial wiz-kid blamed his failure to pay $33,500 in payroll taxes on Turbo Tax, a software package used successfully by 18 million average citizens every year.
Tim Geithner, BO's nominee for Treasury Secretary, said that Turbo Tax didn't tell him that he needed to pay social security and medicare taxes on his self-employment income, and the man slated to run the IRS said that he had no clue that he was supposed to pay those taxes.
Earlier he stated that failing to pay these taxes was "a common mistake". BO echoed this claim, saying, “It is an innocent mistake. It is a mistake that’s commonly made for people who are working internationally or for international institutions. It has been corrected. He’s paid the penalties.” However, the ethics department at the International Monetary Fund, the source of his untaxed income, found that only one of the 1,800 other IMF employees failed to report their income and pay the required taxes.
BO is unshaken in his conviction that Geithner is the man for the job, “My expectation is that Tim Geithner will be confirmed. And my expectation is that he is going to do an outstanding job on behalf of the American people.”
Senator Lindsey Graham said, "We need a new secretary of treasury who understands where this country is at financially and has a game plan to move forward. I think he’s the right guy.”
I am very relieved to hear that solving our nation's financial crisis is easier than filing your taxes.
Thursday, January 22, 2009
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1 comment:
It won't matter under the O-administration, as we're soon going to get the ultra-short form 1040 that's been rumoured for years:
1) How much money did you make this year?
2) Send it in.
;-)
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