The American Spectator

home
ADVERTISEMENT
ADVERTISEMENT
The Largest Selection of Liberal-baiting Merchandise on the Net!
ADVERTISEMENT
ADVERTISEMENT
Print Email

Feature

Secretary Loophole

(Page 4 of 4)

He’s not Bernie Madoff, the fraudster who ran a Ponzi scheme; he’s Andrew Fastow, the Enron accountant who followed the rules but always delivered the requested result. Geithner knows where he is and knows where he or his bosses want to get—and he finds the way that the rules will allow it. This is why he’s Secretary Loophole.

Remember, President Obama pledged in his inaugural address to “remak[e] America”—not “rebuild” or “renew” America or “remake” government, but to remake the country. He has pledged to “discover great opportunity in the midst of great crisis.” Timothy Geithner put the same ambitious notions in less soaring rhetoric last June: “the severity and complexity of this crisis makes a compelling case for a comprehensive reassessment of how to use regulation to strike an appropriate balance between efficiency and stability.” In other words, Geithner is on board with this whole project of “remaking America.” Expanding government’s power is at the heart of this remaking project.

Surely Congress will give Treasury and the administration new powers in the coming months and years, but it’s just as sure that Geithner will, on his own, find some other new executive powers, maybe dwelling among the penumbras and emanations of the law, as he has in the past.  

Page: ‹ First   2 34

Letter to the Editor

Timothy P. Carney is a columnist for the Washington Examiner and the author of The Big Ripoff: How Big Business and Big Government Steal Your Money (Wiley).

Comments

Paul Milenkovic| 5.15.09 @ 11:08AM

Threading a needle through a loophole? The payroll tax matter was one of smashing an M1-A1 tank through a building.

Much as there has been populist and right-wing snark against Mr. Daschle getting a limo and not counting that as income, the average person out there, who admittedly doesn't get a free limo, can at least sympathize with getting some non-monetary freebie. Tell me that no one here has not put Frequent Flier miles to personal use (my reading of the tax rules is that there is an exemption for Frequent Flier miles being taxable income, and that is probably the result of airline lobbying).

Secretary Sibelius has also been the target of criticism for whatever tax problem she had. But her problem involved deductability of mortgage interest when her house was in some kind of post-sale limbo, and this kind of gray-area tax problem can happen to any of us.

But as to Mr. Geithner, there was not gray-area or "I forgot to enter it" or "TurboTax made me do it" excuse that works here. It has been reported that the HR people where he worked took people aside and told them they had to pay the tax. And we are not talking about the Income Tax here. We are talking the Payroll Tax, you know, that regressive tax on working stiffs who would not otherwise have any withholding from their meagre paychecks, that tax that funds Senior Citizens through the Third Rail of American Politics: Social Security and Medicare.

I mean here is the head of the Treasury which is in charge of the IRS. Maybe this is a "it took Nixon to go to China" matter. Perhaps Geithner is the only person with the moxie for the financial crisis, and it took a left-liberal President to put him in charge as a right-conservative President would never be allowed to to this.

Tim| 5.15.09 @ 2:26PM

Dr Ray Stantz: Personally, I liked the university. They gave us money and facilities, we didn't have to produce anything! You've never been out of college! You don't know what it's like out there! I've *worked* in the private sector. They expect *results*.

Pingback| 5.15.09 @ 6:35PM

Twitted by Lyn_Sue links to this page. Here’s an excerpt:

Twitted by Lyn_Sue This post was Twitted by Lyn_Sue - Real-url.org @rushlimbaugh, RT @KatyinIndy Sec Loophole http://bit.ly/d4dMR Geithn http://twitter.com/Lyn_Sue/statuses/1810890776

D. Smith| 5.15.09 @ 11:36PM

Interesting, insightful dissection of Tiny Tim, omitting one of his more creative interpretations of IRS filing of taxes. Did TurboTax tell him it was OK to call posh summer camp tuition for his kid "child care"?

In my opinion, this kind of penny-ante skirting of paying one's taxes requires a criminal mind with the sensitivity of a safe-cracker. A perfect fit for the Obama Administration.

Every time I hear of Geithner's avoidance of four years of IMF taxes, I think anyone who calls summer camp "child care" and gets away with it can get away with anything with the asleep-at-the-wheel IRS. How about private school tuition, is that child care, too?

Just wait until we get Souter's replacement. We will have plenty to howl about, then. A Supreme Court Justice chosen based on empathy, compassion and having "been there". Describes Oprah, doesn't it? You don't have to be a lawyer to be a Supe.

Pingback| 5.16.09 @ 7:22AM

Instapundit » Blog Archive » TIM GEITHNER: “Secretary Loophole?” (Via NewsAlert)…. links to this page. Here’s an excerpt:

FAQ Other Writings PDA Terms of Use Backup RSS « DENVER POST: Dems red-faced over veteran imposter. “He spoke at a Barack Obama veterans rally in f… May 16, 2009 TIM GEITHNER: “Secretary Loophole?” (Via NewsAlert). Posted at by Glenn Reynolds at 7:22 am Sic gorgiamus allos subjectatos nunc! Making even the dumbest sh** interesting! -- Oxblog "Glenn also has a rather dry sense of humour,…

Pingback| 5.16.09 @ 8:27AM

Tim Geithner: Our Treasury Secretary a.k.a. “Secretary Loophole”?? « Romanticpoet’s W links to this page. Here’s an excerpt:

…Secretary Loophole”??   This article shines a FLOODLIGHT on the US Treasury Secretary.  America needs to know what Geithner has been up to!   From: The American Spectator http://spectator.org/archives/2009/05/15/secretary-loophole/ Secretary Loophole By Timothy P. Carney from the May 2009 issue   When Timothy Geithner worked at the International Monetary Fund, he managed a feat that probably very few…

elHombre| 5.16.09 @ 12:21PM

Cheaters and criminals. The Chicago Way. The Obama Way.

Pingback| 5.16.09 @ 1:01PM

Secretary Loophole « Depravity links to this page. Here’s an excerpt:

…worked at the International Monetary Fund, he managed a feat that probably very few Americans have even contemplated: he got himself reimbursed by his employer for taxes he never paid. via The American Spectator : Secretary Loophole. This entry was posted on May 16, 2009 at 4:57 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or…

2Guns, AZ| 5.16.09 @ 7:00PM

'nuff to make you sick, ain't it. And to think the Demo's called Bush II a culture of corruption.

89543guns, wonderland| 5.17.09 @ 12:14AM

Wow, just think! Try it.

Pingback| 5.17.09 @ 1:16PM

Tim Geithner: Our Treasury Secretary a.k.a. “Secretary Loophole”?? | acorn 8 links to this page. Here’s an excerpt:

…article shines a FLOODLIGHT on the US Treasury Secretary.  America n eeds to know what Geithner has been up to!   From: The American Spectator http:/ /spectator.org/archives/2009/05/15/secretary-loophole/ Secretary Loophole By Tim othy P. Carney from the May 2009 issue   When Timothy Geithner worked at the In ternational Monetary Fund, he managed a…

Pingback| 5.17.09 @ 1:17PM

Tim Geithner: Our Treasury Secretary a.k.a. “Secretary Loophole”?? | acorn 8 links to this page. Here’s an excerpt:

…article shines a FLOODLIGHT on the US Treasury Secretary.  America n eeds to know what Geithner has been up to!   From: The American Spectator http:/ /spectator.org/archives/2009/05/15/secretary-loophole/ Secretary Loophole By Tim othy P. Carney from the May 2009 issue   When Timothy Geithner worked at the In ternational Monetary Fund, he managed a…

Netizen19380| 5.29.09 @ 6:09PM

An Open Letter to American Government and Business:

Okay, that’s it; why does the United States continue to deal with China?

Our nation has been subtly at war with China. Communist China has already breached the borders of Capitalist America, in many ways. And their insidious “attacks” have been deadly. America needn’t even engage in a military war with China, China has already successfully attacked American families in their very homes. China has assaulted us through the avenues of our own consumerism:

- China has killed our pets, with inferior tainted petfood.
- China has killed our elderly and sick, with inferior tainted drugs.
- China has sickened our children, with inferior lead and toxin laden toys.
- China has destroyed our newly-constructed homes values, with inferior tainted drywall.
- China has destroyed our job base, through outsourced manufacturing jobs.
- China mocks fair trade, by perennially running trade imbalances with the U.S.
- China damages our digital data, through state sponsored cyber attacks and censorsoring our companies.
- China has stolen our personal identities, through online identity theft.
- China steals our stories, by wantonly ignoring copyright laws.
- China continues to flagrantly harm the global environment; by poor pollution controls, by on-lining coal-burning power plants one-a-week and by dumping cheap plastic goods the world over.
- China ruins economies the world over, by keeping their own currency’s value artificially low.
- China despises the American Dollar, China wants to no longer base the International Monetary Fund currency on the U.S. Dollar.
- ...and ultimately China could very easily behead our economy, when they call in the U.S. debts which they hold.

Capitalist America has undermined itself in the short-run by “selling out” to Communist China, at the long-term expense of having a robust American economy. China is no friend the the United States. Ultimately, if America wants to reverse it’s decline during this 21st century, American government and business leaders must help our nation by limiting and eliminating many imbalanced policies and dealings with China. No excuses, no gray areas. Period.

- A Concerned American

Nfl jerseys| 8.27.09 @ 11:23PM

It is a wonderful article: NFL jerseys,Photoshop CS2,ghd Hair Straightener,Adobe Photoshop CS4.

Pingback| 8.31.09 @ 2:53PM

Twitter Trackbacks for The American Spectator : Secretary Loophole [spectator.org] o links to this page. Here’s an excerpt:

…106 Show more Shortened Links Linking to the spectator.org page http://bit.ly/16ATcQ info http://tinyurl.com/qk4n52 http://bit.ly/aSRaG info http://is.gd/A6Gv   13 tweets Tweet The American Spectator : Secretary Loophole spectator.org/archives/2009/05/15/secretary-loophole – view page – cached When Timothy Geithner worked at the International Monetary Fund, he managed a feat that probably very…

Links of london| 9.4.09 @ 4:02AM

In revere that the delicate undergo and qualities will be exposed if the jumble are as the
links of london rings the door of pleased dear and mane affect, they will not play the function as ornaments. As for oval faces. Therefore, the bout between trinkets and fleece style and face outline can’t be the same to pay thought to new and fashionable links of the importance
links of london earrings.

Wholesale Lingerie| 9.5.09 @ 9:35PM

sexy lingerie lingerie

Wedding Dresses| 9.9.09 @ 3:36AM

Nice articles, but I am not clear Wedding Dresses
Designer Wedding Gowns
Bridal Gowns
about the point you mentioned about how to distinguish fake and real handbags.

sdffd| 11.16.09 @ 9:24PM

AVCHD Video Converter is the professional video converter for AVCHD video using the high technology to convert AVCHD video to all popular video and audio formats, and convert other videos and audios to AVCHD video.
Sony XPERIA Video Converter

Leave a Comment

ADVERTISEMENT

The Day Ahead: November 23

Maia Lazar

* * * *

Why Does Alyssa Milano Hate Me?

Robert Stacy McCain

* * * *

In Sum, IPCC Discredited

Paul Chesser

* * * *

That Dangerous Radical . . . Marvin Olasky?

Robert Stacy McCain

* * * *

No More Mr. Nice Charlie?

Larry Thornberry

* * * *

The Evening Keynote

Rep. Mike Pence

* * * *

The Girl Who Cried Racism

Christopher Orlet

* * * *

The 12 C's of Climate Alarmism

Paul Chesser

* * * *

So Sioux Me

Mark Hyman

* * * *

Methodist Madame

Mark Tooley

* * * *

Advent Is Coming

Jonathan Aitken

* * * *

Imperial Hypocrisy

Ralph R. Reiland

* * * *
ADVERTISEMENT