Rupert Murdoch, tax cheatBY ALEX PAREENE - Salon
TUESDAY, JUL 12, 2011 15:01 ET
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Remember when it was reported that GE didn't pay any taxes last year and Fox News went nuts because GE owned NBC and GE head Jeffrey Immelt supports Obama? Here's Bill O'Reilly with some outrage:
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And here's a hysterical video of Fox News' "News Watch" roundtable attempting to castigate NBC for refusing to report that its parent company paid no taxes last year. The discussion ends when panelist Jim Pinkerton points out that NBC did report on GE's tax bill. The producers decide to start the segment again from the beginning, rather than have host Jon Scott look stupid:
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Funny story, from Reuters columnist David Kay Johnston:
http://www.reuters.com/article/2011/07/12/column-dcjohnston-murdoch-idUSN1E76A1NH20110712Over 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.
There is even a handy chart:
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Link (w/Videos):
http://www.salon.com/news/politics/war_room/2011/07/12/fox_taxes/index.html:kick: