“Walking near the Treasury Building, which is nearby the White House, a woman turned to her young daughter and said: “Look honey, that’s where Tim Geithner lives he doesn’t pay his taxes!”
– Mad As Hell – How The Tea Party Is fundamentally Remaking Our Two Party System – Scott Rasmussen and Douglass Schoen – page 127
In the United States the Secretary of the Treasury also is in charge of the IRS. Tim Geithner has acknowledged that he failed to include “reportable income`for a period of years on his tax return. Furthermore, this is income that he knew he should have been reporting. Yet, Mr. Geithner was confirmed as Secretary of the Treasurey. President Obama justified Mr. Geithner`s appointment on the basis that Mr. Geithner made a mistake that was commonly made. When it comes to the failure to file FBARs:
1. This is an obligation that until 2011 was not commonly known (and may still not be commonly known);
2. The failure to file is very common.
Seems like what is good for Mr. Geithner should be good for the common people. Perhaps, Mr. Geithner should never have been appointed Secretary of the Treasury.
That said, President Obama and Secretary Geithner are raring to go after those expat Americans with foreign bank accounts. Check out the following: