In one respect Timothy Geithner is just like most of us; he doesn’t want to pay taxes and he will do all he can to send the government as little as possible; however that’s where the similarity ends. Timothy (May I call you Timothy Mr. Geithner?) will likely be the next Secretary of the Treasury and will be in charge of the Internal Revenue Service and the rest of us will not.
It has been revealed that Timothy is a tax cheat. In Joe Biden’s lexicon, Timothy is not a patriotic American because Biden says “it is patriotic to pay taxes” and Timothy did what he could to pay the least amount of taxes even if it meant a little bit of cheating. The problem is that, like pregnancy, a little bit of cheating is still cheating. Despite a record of failing to comply with the tax code, President Obama wants Timothy to be the Treasury Secretary. In that position Timothy will be responsible through the chain of command for catching tax cheats.
This may sound bad to the average tax-paying wonk but there is historical precedent for this kind of thing. In the Wild West before failing to pay taxes was a crime but there were lots of other crimes, many towns being in need of a Sheriff, looked for the meanest, baddest outlaw they could find to pin the Sheriff badge on. It makes sense in a way; who is better to be in charge of the horses than a horse thief; of course this presupposes he is a “reformed” horse thief.
We have evidence that Timothy may be a reformed tax cheat. Just after or just before being named Treasury Secretary Timothy paid the taxes he avoided paying in his pre-Treasury Secretary life. According to the Washington Times, some of the delinquent taxes were “paid only after he learned that Mr. Obama was considering him for the post.” At the very least this shows Timothy is conversant with the tax code he sought to avoid.
So here we have a situation where President Obama wants to have a known tax cheat in charge of Treasury and the IRS and all the Obama worshipers fall in line and say Timothy was only a small tax cheat and besides he is probably only guilty of being “sloppy”. In a just world all taxpayers would be entitled to the same leeway and be able to use the “Timothy” defense if ever accused of cheating on their taxes. Unfortunately the world in not just and Timothy’s IRS will not accord you the same forbearance and will likely put your ass in jail.
With all the possible untarnished folks in the US who could be designated by President Obama to be Secretary of the Treasury, a good question is why did Obama settle on Timothy and continue to press for approval of his appointment?
The reason may lie just beneath the surface and requires an understanding of the international monetary system, and Obama’s socialist goals.
We have already seen the plans of the president to spend trillions of fiat dollars to accomplish socialist aims of expanding government ownership and control while destroying the free market system in the process. Sadly, former president George Bush led the way for Obama by doing Obama’s bidding to free-up billions of dollars for his successor’s use while admitting “he abandoned his free market principles” in doing so.
A socialist president needs access to lots and lots of money. Although through willing accomplices in the Federal Reserve Bank he can arrange for the treasury printing presses to roll 24/7, there is a small problem of how to do that without bringing Humpty Dumpty and his wall tumbling down. Obviously taxes cannot be raised sufficiently high to support the additional trillions of dollars to be spent so something else must take the place.
It is no secret but only whispered about that foreigners own enormous amounts of US debt; so much debt in fact that we can NEVER pay off all the money owed. Therefore, why is our debt purchased at all; it is for two reasons.
One reason is that those having hoarded or otherwise accumulated boatloads of dollars have nothing they can do with the largesse but put it somewhere it won’t be stolen; some countries steal purchased debt by devaluating their money or by out-and-out defaulting. At present the United States seems to be the best mattress to put money in because of less likelihood of voluntary devaluation and less chance it will tear up the IOU’s.
Another reason foreigners make the financially unsound decision to buy US debt is because it maintains their own economy and failure to continue buying debt will destroy there biggest buyer of home made goods and services. Without such a market, their economy will shrivel and cause economic and in many cases political problems.
Probably the best example is China. The US owes a lot of money (to put it mildly) to China who buys US securities and other debt instruments with their trade surplus. Dollars earned this way have only limited use; they can purchase property, i.e. businesses, which they are, or they can store it away hoping that it will not disappear in value. However there is always the risk China (and others) will stop or at least decrease their investment in US debt. If this happens then Obama’s socialist house of cards falls down. Not only will that affect the ability to keep the dollar printing presses rolling, but the economy, already shaky, will collapse and the messiah’s halo will be tarnished, or worse, Democrats may lose future elections.
Enter Timothy Geithner; Obama’s Chinese-speaking Treasury Secretary nominee.
Timothy has to become Treasury Secretary and be protected because he’s one of the go-to guys on the matter of getting the Communist Chinese to buy our debt. China is an important component of Obama socialist plans for the purpose of financing never-ending bailouts, government takeovers of businesses and even for the “American Recovery and Reinvestment Act.” Not only does Geithner speak Chinese, he spent some time living there. Plus, he’s a member of the secretive “Group of 30” that includes the governor of the powerful People’s Bank of China, the central bank of China.
So Timothy will be approved by the Democrat Senate and become the Secretary of the Treasury; some may howl but who listens to losers.