Most people remember the ‘Turbo Tax Timmie’ debacle during President Barack Obama’s first appointment to the U.S. Treasury Department. It entailed former NY Fed President Timothy Geithner being caught during his nomination interviews of failing to pay his taxes properly, and then blaming it on his using Turbo Tax.
Well, the Divider in Chief and President who blames the rich through one side of his mouth while keeping them from indictment out the other side is at it once again as his newest nominee for the position of Assistant Secretary of the Treasury is a man who not only aided the rich in evading taxes, but was caught up in one of Obama’s many scandals when he helped men like Warren Buffett avoid corporate tax obligations during this year’s Burger King corporate merger.
It appears Lazard’s investment banker Antonio Weiss‘ “help” in tax inversions is not ‘unpatriotic’ enough to scare President Obama off – as we suspect Weiss’ bundling and donating help more than offset any ethical challenges. However, in a somewhat eye-opening financial disclosure, Bloomberg reports that Obama’s nominee for undersecretary of Treasury for domestic finance, has between $54 million and $203 million in assets spread across various family trusts and his anticipated compensation in 2014 is between $5 million and $25 million.
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