by Peter Joseph Swanson
Member since:
April 13, 2007

Murdoch's News Corp took $4.8 billion in U.S. tax money in over four years

July 13, 2011 11:32 AM UTC
views: 0 | 13 people recommend this | comments: 27

Rupert Murdoch's News Corp. collected $4.8 billion in income tax refunds in the last four years.

Murdoch's U.S.-based media empire has made money on tax rebates on top of its $10.4 billion in profits.

At the standard 35 per cent corporate tax rate the company should have coughed up $3.6 billion in tax.

 

It seems it doesn't matter what the tax rate is for corporations. They'll just fill out their tax forms however they want and Uncle Sam will act stupid about it and allow them to take take take instead of pay their fair share.

And why isn't Murdoch in prison yet, for his all he's done?



Read more, and try to figure out the corporate accounting. I couldn't follow it, maybe you can ...

http://www.dailymail.co.uk/news/article-2013937/Rupert-Murdochs-News-Corp-profit-4-8bn-US-gov-income-tax-refunds.html#ixzz1S01zSfl1

Comments: 27

Kay M Jul 13, 2011, 11:48am UTC
Yep. And then they use the money to buy themselves more politicians.
Peter Joseph Swanson Jul 13, 2011, 11:55am UTC
And we wonder why we're broke?
Jim G. Jul 13, 2011, 12:50pm UTC
Boy, I hope that big bag of wind is brought down to his knees. His monopolies have done more to besmirch the name of journalism than anyone in history.
Laurun M. Jul 13, 2011, 1:11pm UTC
I thought he was doing time. I don't know how the taxes work for rich people and corporations. I only think my sidewalks should be gold-plated for all the money I do pay in taxes! Oh - I just realized that I was thinking Madoff!
Gail Mountain Jul 13, 2011, 2:16pm UTC
And yet the GOP fights even harder for the big $ guys today. Amazing.
Lori F. Jul 13, 2011, 2:23pm UTC
Amazing and shameful. The GOP is holding seniors among others hostage to give corporations and people like Murdoch even MORE tax breaks.

How can anyone support this greed and corruption?
ANTBONI H. Jul 13, 2011, 8:23pm UTC
I couldn't have said it better, Lori.
William Dotani Jul 14, 2011, 1:47am UTC
I like the name Michelle and BTO music, but I'd rather vote for a garden English gnome than for a distastefully disgracefull GOP (corporate whore) candidate.
Gail Mountain Jul 14, 2011, 8:59am UTC
Well, when you are spending every minute campaigning against a sitting President and protecting the top of the economic ladder it is very clear that you care not one bit about your country but about $ and power.

Vote in 2012!
Chris Brockman Jul 13, 2011, 3:59pm UTC
This is so wrong, yet legal--one of the loopholes Obama presumably wants to close. Newscrap takes losses here in the U.S. but registers its profits in tax haven countries.
Larry M. Jul 13, 2011, 5:10pm UTC
FOX would never take money from the government. That would be socialistic. That would increase the national debt. That would be taking the money of American taxpayers. Only worthless, lazy, no account bums would take government money especially when their company was making billions in profits. FOX has too much pride to take government money.

Or could I be wrong?
ANTBONI H. Jul 13, 2011, 8:24pm UTC
Best example: Dick Cheney and
"Haliburton"
Larry M. Jul 13, 2011, 9:23pm UTC
Certainly a well known example of business and government collusion.
William Dotani Jul 14, 2011, 1:54am UTC
I just heard Congress was voted 'Whores of The Century,' for bending over backwards to bankers, corporations and lobbyists while lying to the American people.
Larry M. Jul 14, 2011, 11:58am UTC
Why do they continue that award when the same folks win it year after year?
William Dotani Jul 14, 2011, 1:44am UTC
Our whole of society is corrupt. We used to be a nation that constructed quality in words and deeps. Now we're just cheap, republican and selfish. Government for the people no longer exists. Our government is a disgrace to The Constitution!
William Dotani Jul 14, 2011, 1:44am UTC
deeds not deeps
William Dotani Jul 14, 2011, 1:51am UTC
Peter, please visit Tracey's Genre Shorties 69 prompt article and read the comment I made about a Princess named Peter.
Tessa D. Jul 14, 2011, 10:46am UTC
corporate accounting is not intended to make sense - it is intended to obfuscate
teri a. Jul 14, 2011, 4:42pm UTC
"Rupert Murdoch's News Corp. collected $4.8 billion in income tax refunds in the last four years."
Peter, this story was retracted on NPR this morning.

But a larger point of questionable practices of this organization are appropriate. I have been long disgusted with News Corp and have called Murdoch US Democracy's greatest liability. I am really watching where the investigations go--and will find nothing shocking about their US operations yet to be analyzed.
Peter Joseph Swanson Jul 14, 2011, 6:12pm UTC
Is that why I couldn't figure out the math?

(but I usually can't figure out any math)

I wonder what the final version of the story will be ...
teri a. Jul 14, 2011, 6:29pm UTC
Peter Joseph Swanson Jul 14, 2011, 6:12pm EDT
Is that why I couldn't figure out the math?

(but I usually can't figure out any math)

I wonder what the final version of the story will be ...

My ears are perked because I don't doubt at all that corruption has been the rule in the whole organization. What I most want is for the US properties to be examined. And even more for the News Corp stock to plummet. And more still, for Murdoch to be forced to unload some properties.

Peter Joseph Swanson Jul 15, 2011, 10:06am UTC
Murdock could even be due for jail, considering all he might be charged with! His paper did some stuff that makes Watergate look like kids stuff.
Ed Da Head Toker Jul 18, 2011, 11:22pm UTC
the guy that revealed this unfolding scandal, is dead. Supposdely of "natural causes." wink wink.
...the wall street journal is now under investigation over wiretapping 911 victims.
There is another investigation into "fox news" and ALL of their channels.
teri a. Jul 19, 2011, 2:18pm UTC
I heard this Ed and really asked, now what is the statistical probability that you up and die unrelated to this--I have no details but really am confused. And the story said not that he just died but was "found dead" which to me sounded more suspect as well...
Ed Da Head Toker Jul 25, 2011, 1:12am UTC
I know.
I am always suspicious when sommeone "central" to such an investigaition; just dies of "natural causes."
AT "Wounded knee," someone whom the FBI claimed committed suicide, had over 100 bullketts in them. I gues hey were a poor shot??
Lloyd 'Tony' Cope Jul 19, 2011, 3:52pm UTC
"Rupert Murdoch's News Corp. collected $4.8 billion in income tax refunds in the last four years. Murdoch's U.S.-based media empire has made money on tax rebates on top of its $10.4 billion in profits. At the standard 35 per cent corporate tax rate the company should have coughed up $3.6 billion in tax."

This is exactly what Republicans support. They work against their own best self-interests on behalf of the richest of Americans and the wealthiest of corporations. Their hatred and opposition to President Obama has clouded their judgement.

Rupert Murdoch could care less about their welfare and well-being. His media empire is a fraud and it's subsidiary FOX NEWS enables their illegal and immoral behavior.

Yet there are those on the Right who see this as a good thing.

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