Geithner Lied
When I first read that Treasury Secretary nominee Timothy Geithner had failed to pay self-employment tax, it sounded pretty minor. He was employed by the International Monetary Fund, but the IMF doesn't pay Social Security taxes so IMF employees are supposed to pay self-employment tax (which is the equivalent of Social Security taxes for the self-employed) even though the employees aren't self-employed. That's sort of unnatural, and it's easy to see that someone might not know.
But according to an article by Byron White in the National Review, the IMF told Geithner he was required to pay income taxes and self-employment tax, and Geithner applied for (and received) money from the IMF to pay those taxes, signing a statement in which he certified that he would use that money to pay those taxes.
That's a big "whoops."
I'm not saying that Geithner shouldn't be confirmed as Secretary of the Treasury, but he's got a lot to be embarrassed about, and a lot to grovel for.
But according to an article by Byron White in the National Review, the IMF told Geithner he was required to pay income taxes and self-employment tax, and Geithner applied for (and received) money from the IMF to pay those taxes, signing a statement in which he certified that he would use that money to pay those taxes.
That's a big "whoops."
I'm not saying that Geithner shouldn't be confirmed as Secretary of the Treasury, but he's got a lot to be embarrassed about, and a lot to grovel for.
