Monday, May 4, 2009

Stopping Tax Cheats Starts in D.C.

Was that really Tim Geithner standing up there with President Obama saying how they were going to stop tax law loop-holes and tax cheats? - REALLY!

Now I applaud the notion of making people pay their taxes but shouldn’t it be just as important to lead by example. Yes I know Geithner, after being put on the spot and caught having “underpaid” his taxes, went back and made amends be repaying those taxes, kind of.

I also know that rather than leading by example and making restitution for the full amount, he took advantage of the statute of limitations and only wrote a check for those unpaid taxes that were required. Those that fell out of the statute of limitations were left unsettled. Since he is now the head of the IRS, I wonder how much in fines and interest he was charged for the portion he made good on.

I still find the funniest part was Geithner blaming his mistake on his misunderstanding of how to use Turbo-tax. I guess this year Geithner can ask for help from Tom Daschle, Charlie Rangel or one of the others who are or have served in Washington who, at various times had responsibility for some portion of the tax code, but apparently can’t understand the code that the rest of us are supposed to.

Guess we better get our ducks in a row cause the federal government is coming. Maybe they should start in Washington D.C.?

Wonder how long it will take to read the tax code?
Bill

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