Tuesday, January 13, 2009

Performance Expert & Treasury Chief Can't Calculate Taxes

It's a sad day when President Elect Barack Obama's expert money man can't calculate his self employment taxes, at least not without a $42,702 multi-year error. Timothy Geithner omitted Medicare and Social Security taxes to the tune of $34,000 from 2001 to 2003. The rest was interest.

But Tim paid up. The first chunk, $16,732 came in 2006. He ponied up the remaining $25,970 just days before Obama announced his nomination.

Geithner isn't alone. Obama's performance expert, Nancy Killefer failed to live up to IRS standards. Her failure to pay taxes on household workers resulted in the District of Columbia placing a $946.69 tax lien on her home in 2005. How many performance experts let things go until they reach the tax lien stage? What happened to Nancy's management mojo, accountability, transparency and incentive pay?

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