If it’s good enough for Bush and Cheney, it’s certainly good enough for Treasury, right?

CSX Paid No Income Tax in 2 of Last 4 Years.

”The company headed by the Treasury secretary-designate had large pretax profits at same time. Its practices appear legal, however.”

“Over the same four-year period, the company gave Snow $36 million in salary, bonuses, stock and options, and forgave a $24-million loan so he wouldn't lose money along with other shareholders as the company's stock price declined.”

(Now THAT seems “generous”. If you’re the CEO you get a guaranteed huge wage package EVEN IF the stock declines.)

"Treasury is supposed to make sure that the taxes are collected fairly," said Robert McIntyre, director of Citizens for Tax Justice, an advocacy group that opposes many corporate tax breaks. "Bush has just nominated a guy who thinks it's dandy that his company's contributing nothing to help support the country."

“Yet even if Snow successfully defends CSX's tax returns and his own take-home pay, other issues are sure to be raised on Capitol Hill. Among them: the cancellation of loans he received to buy company stock, and his sale of CSX shares shortly before the disclosure of financial setbacks.” (Emphasis added.)

“Snow's private sector resume bears a striking similarity to those of Bush and Vice President Dick Cheney. The president has been bedeviled by persistent questions about his stock sales while serving on the board of Harken Energy Corp. 12 years ago. Cheney has drawn fire for his actions as CEO of Halliburton Co., a big oilfield services firm that is under investigation for its accounting practices.”

This guy will be right at home.

Arf