News Corp stealing US Tax Dollars

Posted in the general UK Murdoch media empire downfall thread, but thought it warranted a separate thread so some Amercians may actually read it.

www.reuters.com...

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.

What do the Americans here think? Could this little nugget be the nudge needed to get Fox News off the air?

reply to post by yakuzakid


I wish I could get a nearly 120% refund on what taxes I was supposed to pay. Looks like again, even our tax system is socialism for the rich, and capitalism for the poor and middle class.

reply to post by ExPostFacto

Im not greedy i'd just get a 100% return.
If your rich you can get richer easier with all the laws out there and opportunity. But when your poor and paying the bills saving up for that initial capital can take a life time or fill like it

Totally agree.

If you have the money, you can hire the best lawyers to find every loophole under the sun to get you out of paying tax or to even claim more tax back like Murdoch has.

Apparently News Corp aren't alone in this

www.abovetopsecret.com...

www.abovetopsecret.com...

I'm sort of in the middle in politics but I understand that part of the difficulty is a loss of tax revenues. The way these corporations avoid any responsibility does not help, no matter how far right you are how on Earth do these practices make sense. The avoidance they practice means the tax system is not crippling corporations but it sure as hell is debillitating the rank and file of every country. The tax system need not penalise them unduly but surely they have a responsibility to contribute something.

Let us not forget that it isn't just America.

DESPERATE times at HM Revenue and Customs, as its dodgy deals with the world’s richest multinational companies unravel. Eye readers will recall that late last year HMRC tax boss Dave Hartnett unlawfully let Goldman Sachs off a £20m interest bill on an offshore tax avoidance scheme for its bankers’ bonuses.

More at.

www.private-eye.co.uk...

reply to post by yakuzakid

What do the Americans here think?

They will just ignore it....at least Fox news viewers will. They probably know nothing of it anyway since Fox News itself would never report on it...just as they won't report the corruption and violation of laws they were doing in the UK.

This is the bastion of freedom that people rely on in the US....sad.

The only time Americans get upset over welfare is when it's being collected by poor minorities. When it's a multi-billion dollar corporation? Won't even be a blip on the radar.

We'll cut social security and medicare, but we won't dare touch Murdock's special corporate welfare fund.

reply to post by Blackmarketeer

The only time Americans get upset over welfare is when it's being collected by poor minorities. When it's a multi-billion dollar corporation? Won't even be a blip on the radar.

Oh geezus...now you sound like a communist!!!

Go home to Russia Stalin!!!

/end sarcasm

Remember all the conservatives up in arms about GE not paying taxes (and rightfully so)....WELL WHERE ARE THEY ON THIS ONE?!?!?!?!!?!

They don't pay taxes and they hack into private citizens phones.....THEY ARE AWESOME.

God Bless Murdoch, Ailes, and Fox News.

reply to post by David9176


Actually GE pays about 7% in corporate taxes. They've demanded (and received) tax breaks for the last several years, while at the same time cutting jobs (so much for the theory that lower taxes = more jobs). News Corp. previously earned it's tax cheat status for having over 150 tax shelters in off-shore locations, the highest among the "top 15 corporate tax cheats":

Taxation strategy: In December 2008, the Government Accountability Office reported that 83 of the 100 largest companies in the U.S. had subsidiaries in foreign tax havens. One of the companies with the highest number was News Corp., which then had more than 150 subsidiaries in tax-haven locales. - Top 15 Tax Escape Artists

What makes this funny is that GE (owner of NBC) and News Corp (owner of Fox News) would air segments on who's the bigger tax cheat when they BOTH are in the top 15 of tax cheats.

reply to post by Blackmarketeer

Actually GE pays about 7% in corporate taxes. They've demanded (and received) tax breaks for the last several years, while at the same time cutting jobs (so much for the theory that lower taxes = more jobs). News Corp. previously earned it's tax cheat status for having over 150 tax shelters in off-shore locations, the highest among the "top 15 corporate tax cheats":

Yeah, the record profits corporations are bringing are sure to bring in the jobs......any day now....right...uh...yeah..

So sick of this BS....this website has become completely overrun by people who advocate hurting their fellow citizens in the name of an ideology that benefits billionaires and corporations.

It's not "We the People" anymore. It's "I for Me."

We should just change the preamble to the Constitution for what they really want it to be.

The Constitution itself was born from COMPROMISE....yet some don't seem to get it.

Btw...thanks for the info...had no idea Fox News was so high up the ladder of tax cheats. I wonder if they use Turbo Tax like Geitner?

reply to post by David9176


Funny you should say about Fox News not reporting it, so their viewers never hearing of it.

This scandal is over every single paper every day at the moment, and all you have to do is look at the news rack in and newsagent to see who are the ones perpetrating a cover-up. 2 days ago every single paper had the Gordon Brown hack on the front page apart from two - The Sun, who went with a story about David Beckham, and The Times, who went with the BSkyB takeover bid being scuppered - part of the story, but hardly the main issue of the day!

You would really have to be a complete thicko right now in the UK not to see who's in the wrong here.