By Alan Marsden
Timothy Geithner’s confirmation as our new Treasury Secretary reminds me of an old Steve Martin routine from the seventies. I was a teenager back then, when the “wild and crazy guy” was not yet making movies but filling up concert venues as a stand-up comedian.
Here’s a transcript from one of my old Steve Martin LP’s:
You can be a millionaire.. and never pay taxes! You say.. "Steve.. how can I be a millionaire.. and never pay taxes?" First.. get a million dollars. Now.. you say, "Steve.. what do I say to the tax man when he comes to my door and says, 'You.. have never paid taxes'?" Two simple words. Two simple words in the English language: "I forgot!" How many times do we let ourselves get into terrible situations because we don't say "I forgot"? Let's say you're on trial for armed robbery. You say to the judge, "I forgot armed robbery was illegal.” – Steve Martin/Comedian
On Monday, January 26, 2009, the United States Senate voted 60 to 34 to confirm Geithner as our 75th Treasury Secretary. This despite his own admission that he failed to pay 35-thousand dollars in self-employment taxes and other tax related problems, all of which has since been resolved. President Obama as well as senators from both parties dismissed this as an honest mistake. After all, who among us can claim to never have made a mistake? Furthermore, his expertise in international fiscal crises is unmatched and his experience and intelligence make him, not only the best man for the job, but the only man for the job. And what is that job again?
The Secretary is responsible for formulating and recommending domestic and international financial, economic, and tax policy, participating in the formulation of broad fiscal policies that have general significance for the economy, and managing the public debt. – Treasury Dept. Web Site
During his Senate confirmation hearing Geithner testified he simply didn’t realize the taxes were owed. He’d been using TurboTax and wasn’t prompted to pay the taxes.
Okay, so this is a very simplified and condensed version of the Geithner nomination, but sufficient to make a simple point: Either he is honest, but too stupid for the job, or he is dishonest and therefore unqualified for the job. In other words, how can a man not know how to work his way through TurboTax, not know he’s underpaying taxes by tens of thousands of dollars, and at the same time be the financial genius who’s expertise is not only strongly needed but required in this desperate financial storm?
I’m sorry. I’m not buying it. I don’t think a single person on Capitol Hill believes this man is stupid. It would seem, therefore, that Geithner’s supporters are willing to overlook the “innocent mistake” and pretend like it’s not sheer dishonesty. On Monday night in Washington, 60 senators voted to approve his nomination: 50 Democrats & 10 Republicans. Timothy Geithner was immediately sworn-in as Treasury Secretary.
Three Democrats did not support Barack Obama’s choice for Treasury Secretary during the Monday vote. One of them was Tom Harkin of Iowa. During a speech on the senate floor Harkin said, “How can Mr.Geithner speak with any credibility and authority as America’s chief tax enforcement officer?” Indeed.
