Nov
Posted by: Jeffrey Berkowitz
0 CommentsLael Brainard, President Obama’s nominee for undersecretary of the Treasury for international affairs, is the latest Democrat to have tax problems. The Associated Press reports that Brainard was late paying real estate taxes in 2005, 2006 and 2007. She also seems to have gotten too creative with her deductions, making her the “fifth presidential nominee to reveal tax issues during the congressional vetting process,” according to the AP. Her potential boss, Treasury Secretary Timothy Geithner, was another one of those nominees, having failed to pay $34,000 in back taxes and interest. Is the president letting Charlie Rangel choose his nominees?
While Obama has no problem placing tax-inept individuals in high end Treasury posts that will deal with international tax issues, he takes great issue with businesses that defer taxes on profits earned overseas. By seeking an end to this practice, Obama is making it more difficult for U.S. companies to compete with businesses in other countries that are not subject to his double taxation. What U.S. businesses are doing is legal, not paying your taxes is certainly not, but that doesn’t stop Obama from going after businesses instead of the tax cheats joining his administration.
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