Sunday, February 1, 2009

News Flashes

Senator (retired) Tom Daschle was on a fast track for confirmation as Secretary of Health and Human Service (and to be a sort of health care reform czar) when his tax returns jumped up and bit him.

Daschle was working as a $1M a year "consultant" to a media private equity fund run by his friend, and receiving free car service, a very substantial benefit in Manhattan's gridlock.

Reports say on one return Daschle forgot an $89k consulting payment, as it was excluded from his Form 1099 (how does an accountant not multiply 89 x 12?).

The Daschle's paid the back taxes this year with interest, but are also reported beneficiaries of a special influential insider penalty waiver by the IRS (how sweet).

Time will tell.

UPDATE: The Daschles may have to re-amend their tax returns. Developing....

In other (better) news.....

Professor David Cutler of Harvard, an influential voice in health care reform discussions, has been selected to serve as a health care advisor to President Obama.

No comments: