Thursday, January 15, 2009

Geithner Doesn't Pay Taxes; Congress Doesn't Pay Attention


Treasury nominee Tim Geithner doesn't pay his taxes. This piece of information did not preclude Barack Obama from choosing him anyway. The man who would be in charge of the Internal Revenue Service has an aversion to paying taxes. I have an aversion to it, too.

Comedian Steven Colbert said, "I don't pay my taxes, either. Why can't I be Treasury secretary?"

Republican Senator Jeff Sessions is right, "the man who wants to be the top tax collector in America hasn’t paid his taxes.”

Despite the inconvenient truth about Geithner and another example of the new administration lax vetting process, the nomination took a hit, but still rolls, at least, for now.

The Associated Press speculated today that the postponement of Geithner's confirmation until the day after the inauguration next Tuesday may allow the chorus of disenchantment to rise. Most likely, the postponement is designed to push the story deep into the news sections of papers across the country planning splashy commemorative editions of Obama's first day in office.

Yet, the New York Times and other publications gloss over all of this and report Geithner will likely be confirmed nonetheless.

In spite of Geithner's problems, his nomination should be shrouded in more doubt than Capitol Hill is willing to delve. Many say he is capable, but as opposed to whom? George W. Bush and the presidency? Geithner presided over Wall Street--the epicenter of much of the greed and deregulation that has ground the economy nearly to a halt. He comes from the Robert Rubin school of economics that easily extends blame for our current situation past the era of President Bush and into the late stages of the Clinton presidency.

Geithner is cozy with the bank. Familiar with the players who built the house of cards which ultimately fell with the housing bubble and it was not until word leaked that he paid his four-year-old tax bill last week that Congress began to question his nomination.

Again, nobody is looking out for the American people.

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