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Thread: How do you like him now? Rupert Murdoch takes 4.8 BILLION DOLLARS FROM TAXPAYERS last

  1. #1
    On the Diversary Committe TennesseeRain's Avatar
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    How do you like him now? Rupert Murdoch takes 4.8 BILLION DOLLARS FROM TAXPAYERS last

    “Over the past four years Murdoch's U.S.-based News Corp. has made money on income taxes. Having earned $10.4 billion in profits, News Corp. would have been expected to pay $3.6 billion at the 35 percent corporate tax rate. Instead, it actually collected $4.8 billion in income tax refunds, all or nearly all from the U.S. government.

    The relevant figure is the cash paid tax rate. This is the net amount of corporate income taxes actually paid after refunds. For those four years, it was minus 46 percent, disclosure statements show.
    Even on an accounting basis, which measures taxes incurred but often not actually paid for years, News Corp. had a tax rate of under 20 percent, little more than half the 35 percent statutory rate, company disclosures examined by Reuters show. News Corp. had no comment.

    Fox News, the editorial pages of his Wall Street Journal and other Murdoch outlets often rail against taxes. Their attacks on government benefits for the elderly, the sick, the jobless and child


    Rupert Murdoch actually RECEIVED 4.8 billion dollars from American taxpayers.

    How do you like him now? Rupert Murdoch takes 4.8 BILLION DOLLARS FROM TAXPAYERS last year? - Yahoo! Answers

    Yeah. Great. I can practically hear this sleazeball saying, "suck on that, bitches."

    But have no fear, people will defend this crap and claim the left is guilty of waging "class warfare."

  2. #2
    On the Diversary Committe TennesseeRain's Avatar
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    Oh and to top it off, Reuters reported the story and then scrubbed it:

    Murdoch’s Sleazy News Corp. Got $4.8 Billion Tax Refund From Washington

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    Didn't like him then, don't like him now. He creates stupidity.
    Funny how Reuters scrapped the story though, what's that tell ya?

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    King Obama is a traitor! michaelr's Avatar
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    Quote Originally Posted by TennesseeRain View Post
    “Over the past four years Murdoch's U.S.-based News Corp. has made money on income taxes. Having earned $10.4 billion in profits, News Corp. would have been expected to pay $3.6 billion at the 35 percent corporate tax rate. Instead, it actually collected $4.8 billion in income tax refunds, all or nearly all from the U.S. government.

    The relevant figure is the cash paid tax rate. This is the net amount of corporate income taxes actually paid after refunds. For those four years, it was minus 46 percent, disclosure statements show.
    Even on an accounting basis, which measures taxes incurred but often not actually paid for years, News Corp. had a tax rate of under 20 percent, little more than half the 35 percent statutory rate, company disclosures examined by Reuters show. News Corp. had no comment.

    Fox News, the editorial pages of his Wall Street Journal and other Murdoch outlets often rail against taxes. Their attacks on government benefits for the elderly, the sick, the jobless and child


    Rupert Murdoch actually RECEIVED 4.8 billion dollars from American taxpayers.

    How do you like him now? Rupert Murdoch takes 4.8 BILLION DOLLARS FROM TAXPAYERS last year? - Yahoo! Answers

    Yeah. Great. I can practically hear this sleazeball saying, "suck on that, bitches."

    But have no fear, people will defend this crap and claim the left is guilty of waging "class warfare."
    Say "Deferrals". See the libs are happy to tax the rich, but it is the tax deferrals that are the problem, and that is why Obama extended the Bush tax cuts.

    You would be amazed on what corporations do not pay taxes because of them.

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    On the Diversary Committe TennesseeRain's Avatar
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    Quote Originally Posted by michaelr View Post
    Say "Deferrals". See the libs are happy to tax the rich, but it is the tax deferrals that are the problem, and that is why Obama extended the Bush tax cuts.

    You would be amazed on what corporations do not pay taxes because of them.
    No. I wouldn't. Nothing shocks me anymore.

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    How I misread News Corp’s taxes | MediaFile

    By David Cay Johnston. The opinions expressed are his own.
    Readers, I apologize. The premise of my debut column for Reuters, on News Corp’s taxes, was wrong, 100 percent dead wrong.
    Rupert Murdoch’s News Corp did not get a $4.8 billion tax refund for the past four years, as I reported. Instead, it paid that much in cash for corporate income taxes for the years 2007 through 2010 while earning pre-tax profits of $10.4 billion.
    For the first time in my 45-year-old career I am writing a skinback. That is what journalists call a retraction of the premise of a piece, as in peeling back your skin and feeling the pain. I will do all I can to make sure everyone who has read or heard secondary reports based on my column also learns the facts and would appreciate the help of readers in that cause.
    No excuses. But I will explain how I made such a bonehead error.

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    Quote Originally Posted by Disappointed not surprised View Post
    Hmmm.. I have to wonder if David Cay wrote that under gun point.

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    Best Garage Ever! Disappointed not surprised's Avatar
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    If David Cay Johnston is a Leftist he would be the first one to ever admit he made a boneheaded mistake. So I can understand your skepticism.

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    Quote Originally Posted by Disappointed not surprised View Post
    If David Cay Johnston is a Leftist he would be the first one to ever admit he made a boneheaded mistake. So I can understand your skepticism.

    Well, at least you admit it may have been a mistake.
    Do you have the sack to say Murdoch's FOX News isn't much better than his British tabloid?

  10. #10
    On the Diversary Committe TennesseeRain's Avatar
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    Quote Originally Posted by Disappointed not surprised View Post
    If David Cay Johnston is a Leftist he would be the first one to ever admit he made a boneheaded mistake. So I can understand your skepticism.
    that's just utter bullshit.

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