Peter Flaherty, President of the National Legal and Policy Center (NLPC), today made the following statement:
President-elect Obama should withdraw Timothy Geithner’s nomination for Treasury Secretary. Obama says that middle–class families with incomes of $250,000 are wealthy and their taxes should be raised, but he wants a Wall Streeter who didn’t pay his taxes to be his point man on the economy.
The amount of unpaid taxes — $42,000 — may sound like pocket change to Geithner and his Wall Street buddies, but it is a lot of money on Main Street.
Geithner’s claim that he didn’t know he was supposed to pay taxes doesn’t pass the laugh test. It is true that American citizens who work for the IMF are responsible for the employer’s share of the payroll tax, but IMF employment includes generous pay and a host of other perks. Anyone who has ever worked there is well … Read More ➡