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Posted on 02/03/2009 4:53:25 AM PST by libstripper
When President Obama nominated former Senator Tom Daschle to be his secretary of health and human services, it seemed to be a good choice. Mr. Daschle, as the co-author of a book on health care reform, knew a lot about one of the president’s signature issues. As a former Senate majority leader, he also knew a lot about guiding controversial bills through Congress, where he remains liked and respected by former colleagues.
Unfortunately, new facts have come to light — involving his failure to pay substantial taxes that were owed and his sizable income from health-related companies while he worked in the private sector — that call into question his suitability for the job. We believe that Mr. Daschle ought to step aside and let the president choose a less-blemished successor.
Unfortunately, new facts have come to light — involving his failure to pay substantial taxes that were owed and his sizable income from health-related companies while he worked in the private sector — that call into question his suitability for the job. We believe that Mr. Daschle ought to step aside and let the president choose a less-blemished successor.
(Excerpt) Read more at nytimes.com ...
Why isn’t he in jail? I would be.
There is a difference between genuine ignorance and WILLFUL IGNORANCE! Guess which category I would put former Senator, current Lobbyist Daschel? As I posted about our new Treasury Secretary, I speak from the position of having been a seasonal tax preparer and I would have EASILY said that anything more than the $12k gift limit triggers tax consequences. The IRS carries this even into the barter arena so the idea that it is just between friends to have a car and chauffeur over 3 years and not think that this has tax consequences is RIDICULOUS!
When they call the roll in the Senate, the Senators do not know whether to answer “Present” or “Not guilty.”
- Theodore Roosevelt
Boy, TR must have had a time machine and viewed the Obamaloon collection.
I would also like to hear more of the 'quid pro quo' reasons behind WHY Daschle was being given a free limo and driver, and why that means about his Blagojevich-style ethics.
Statute of Limitations for IRS Assessments
General Rule - The IRS is required to assess tax within 3 (three) years after the return was filed. See section 6501(a) of the Code and section 301.6501(a)-1(a) of the regulations. Similarly, no proceeding in court without assessment for the collection of any tax can begin after the expiration of 3 years. See section 301.6501(a)-1(b) of the regulations.
Time for more people to jump on Congressman Carter’s “Rangel Bill”
that would abolish all penalties for tax underpayment.
Just don’t pay the full amount, and if you get caught, pony up what you really owe, and say “sorry”.
You might want to check. I don’t think there’s a statute of limitations on tax fraud. I may be wrong, and don’t have the time to investigate right now.
Mr. Daschle’s financial ties to major players in the health care industry may prove to be even more troublesome as health reform efforts proceed. Like many former power players in Washington, Mr. Daschle cashed in on his political savvy and influence to earn $5 million in recent years, including more than $2 million from Alston & Bird, a law and lobbying firm; more than $2 million from the private equity firm, InterMedia Advisors, which provided the car and driver; and hundreds of thousands of dollars for speeches to interest groups, including those representing health insurance plans, medical equipment distributors and pharmacy boards.
Although Mr. Daschle was not a registered lobbyist, he offered policy advice to the UnitedHealth Group, a huge insurance conglomerate. He was also a trustee of the Mayo Clinic in Minnesota, on whose behalf he voiced opposition to a federal loan for a freight rail line near the clinic’s headquarters in Rochester, Minn. The loan was subsequently denied by the Federal Railroad Administration.
” if a tax cheater failed to file a return, or if a tax return filed was false, fraudulent or a willful attempt to evade tax, then there’s no limitation period at all for the Internal Revenue Service to conduct an investigation an/or prosecute and penalize a tax cheater.”
Did they apply these rules to Geithner?
If there are no appropriate penalties for these people cheating on their taxes,
there should be NO penalties for anyone else.
This needs to be put before Congress for a vote.
A 2006 Internal Revenue Service audit forced Geithner to pay back taxes and interest for only two years, 2003 and 2004, but not on taxes owed for 2001 and 2002.
The IRS charged no penalties, no fines, and didn’t demand the money owed for 2001 and 2002. And he didn’t voluntarily pay it until his name came up as nominee.
In Obama’s word you can be a tax cheat and still oversee the Treasury. (You can’t own a gun though.)
BTW, is Turbo Tax sueing Geithner for blaming the problem on their product? hmmm...
Intuit has made a public statement saying that there is no way their software could be responsible for Geithner’s “error”.
They were politic about it, saying that their software does accurate calculations based on what the user enters.
Yet another? I wonder how the Old Gray Hag chose the number of tax cheats that were acceptable.
I agree there should be no penalties for anyone else - if that’s how they want to run the game.
Can you imagine fraudulently owing $125,000 in taxes. That’s taxes owed, not taxable income. Daschle must have failed to report more than $350,000.
We are no longer a nation of laws.
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