03
Mar
09

Obama to Geithner – It takes a tax cheat to catch a tax cheat.

timthiefThis is perhaps the funniest story of the year so far…Not for the text, but for the subtext.

Geithner: Obama to fight international tax dodgers
Mar 3 01:00 PM US/Eastern
By STEPHEN OHLEMACHER
Associated Press Writer

WASHINGTON (AP) – President Barack Obama’s Treasury secretary says the administration will unveil a series of rules and measures in the coming months to limit the ability of international companies to avoid U.S. taxes.

Treasury Secretary Timothy Geithner told the House Ways and Means Committee on Tuesday that Obama will propose legislation to limit U.S. companies’ ability to shelter foreign earnings from taxation in the U.S. He also said the administration will try to limit wealthy Americans’ ability to use tax havens to avoid taxation.

He did not immediately provide details.

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