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Obama: Enough Of This Crap

Karl Denninger
Market Ticker
Feb 4, 2009

This is FOUR people who you've appointed that can't pay their damn taxes, including your Treasury Secretary?

The latest is that Daschle has withdrawn, of course.


I'll tell you what would be change. Since it appears that a huge percentage of the current and former Congressional delegation has cheated on its taxes - after all, what are the odds you only picked the tax cheats, if you want me to believe in your idea of CHANGE you will immediately order all member of Congress in both Houses to undergo full IRS audits all the way back to the Statute of Limitations (three years), along with all of their staff.

You and I know know it won't happen, but I'll tell you what - I keep hearing people say they're going to file absolute crap this year. Utter garbage. "The Dog ate my Schedule C."

If The American People do this, Mr. President, government funding will collapse. The IRS can't possibly audit everyone and we all know it.

Your administration is dangerously close to creating a full-on tax revolt among Americans. You would not believe how often I have heard this among people both online and off in the last couple of weeks. The anger, especially when the people who are cheating are folks like Daschle and Geithner, is VISCERAL - these are the people who both wrote the tax code and were involved in the bailouts and handouts which you expect we the people - ordinary Americans - to pay for.

I file and pay every year exactly what I owe. No cheating, no games, no BS. I spend upwards of a full week preparing and checking my tax return to make sure that I pay every dollar that is due (but not one more!) But now we discover that every day another one of your appointees in your "new day" for Washington DC has cheated on their taxes and in the case of Daschle and Geithner they knew they owed the money and didn't pay until you tapped them?

Against this backdrop you expect ordinary Americans to file and pay for bankster bailouts to cover the fraudulent actions of the banking and securitization industry?

You might want to rethink this one, and I can come up with only two ways to do it:

  • Audit EVERY Congressperson and EVERY staffer in your administration, including yourself. Everyone, all the way back to the statute of limitations, with the results of those audits made public.

  • Ditch the IRS and the current tax system entirely (mooting the question) and move the nation to The Fair Tax, thereby firing all the tax lobbyists and game-players in DC and elsewhere.

Frankly I prefer #2 but #1 is acceptable.

"Do nothing", on the other hand, may well NOT be accepted by The American people.

If what I hear in my day-to-day the patience of "The People" is about done.

Feb 3, 2009
Karl Denninger

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