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Treasury Secretary Tim Geithner Takes on Tax Evasion

By Doug Bandow on 6.19.09 @ 10:46AM

Does anyone else find this to be, er, just a bit shameless and unseemly on Treasury Secretary Tim Geithner's part? Announced the Treasury Department today:

As part of the Obama Administration's aggressive efforts to enforce U.S. tax laws and reduce offshore tax evasion, the U.S. Department of the Treasury today announced the conclusion of negotiations with Switzerland to amend the U.S.-Switzerland income tax treaty to provide for increased tax information exchange. Official signing of the protocol is expected in the next few months.

"This Administration is committed to reducing off shore tax evasion to help ensure that all U.S. taxpayers are playing by the same rules," said Treasury Secretary Tim Geithner. "This treaty will increase our ability to enforce our tax laws and will help bring an end to an era of offshore accounts and investments being used for tax evasion."

Tax evasion. Such an ugly thing when other people do it!

View all comments (9) | Leave a comment

Tim| 6.19.09 @ 11:30AM

Ugarte: Heh, you know, watching you just now with the Deutsche Bank, one would think you've been doing this all your life.
Rick: Oh, what makes you think I haven't?
Ugarte: Oh, n-n-n-nothing, but when you first came to Casablanca, I thought...
Rick: You thought what?
Ugarte: Hm, what right do I have to think, huh?

martynsan| 6.19.09 @ 2:03PM

Thanks. Its very interesting.

Jim O'Brien| 6.20.09 @ 6:35PM

A good way to drastically cut tax evasion by various crooks is to enact the Fair Tax. There is Fair Tax legislation pending (and being held up) in both the House and Senate which would completely terminate the federal income tax system (and the IRS) replacing it with a national retail sales tax on new goods and services. (This is not a VAT or flat tax.) Even visitors from foreign countries would help pay our taxes! Loopholes would be next to impossible. The states would collect the taxes using existing mechanisms, and forward the federal portion to the U.S. Treasury. Corporations and individuals would be free of the enormous burden of compliance with tens of thousands of pages of IRS code, regulations, instructions, and forms. The Fair Tax would result in an unprecedented economic boom. See fairtax.org for more details.

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sergey777| 7.1.09 @ 8:25PM

Very interesing

Анастасия| 7.12.09 @ 4:13PM

You thought what?

Tina| 7.18.09 @ 3:34AM

I respect Obama and gave him money, but as a tax lawyer I'm totally disgusted by his appointment of Tim Geithner as Treasury Sec'y. FICA is a given, and he KNEW he needed to be paying it. More entitled "masters of the universe" we don't need considering the state of the nation. Ref. Matt Taibbi's recent article re: Goldman Sachs, see also Geithner, Tim.