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posted on Mar, 22 2011 @ 12:17 PM
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“…News Corporation and its subsidiaries paid only A$325m ($238m) in corporate taxes worldwide. In the same period, its consolidated pre-tax profits were A$5.4 billion. So News Corporation has paid an effective tax rate of only around 6%. By comparison, Disney, one of the world’s other media empires, paid 31%. Basic corporate-tax rates in Australia, America and Britain, the three main countries in which News Corporation operates, are 36%, 35% and 30% respectively.”

The article goes on to describe how News Corp used a complex network of accounting dodges including as many as 60 shell companies that were incorporated in such tax havens as the Cayman Islands, Bermuda, the Netherlands Antilles and the British Virgin Islands. More recently, an investigation by the New York Times revealed that…

“By taking advantage of a provision in the law that allows expanding companies like Mr. Murdoch’s to defer taxes to future years, the News Corporation paid no federal taxes in two of the last four years, and in the other two it paid only a fraction of what it otherwise would have owed. During that time, Securities and Exchange Commission records show, the News Corporation’s domestic pretax profits topped $9.4 billion.”




Click here to read the story.



I wonder how this will get spun. I can hear Glenn Beck firing up the spin machine right now!




posted on Mar, 22 2011 @ 12:22 PM
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Every time a thread pops up with the name "FOX" I have no choice but to post this video..

edit on 22-3-2011 by TechVampyre because: (no reason given)

edit on 22-3-2011 by TechVampyre because: (no reason given)



posted on Mar, 22 2011 @ 12:57 PM
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This is surely a problem of Rupert Murdocks upbringing. When you look at the fact that his Father carried the title "Sir" and was an already VERY wealthy media mogul and Rupert simply was born with a silver spoon in his mouth he never knew such things as humility or being humble.

His parents raised and taught him that wealth is good, and acquiring as much of it as possible is the goal in life.

His father groomed him from a VERY early age and he attended the elite Geelong Grammar School and then he went on to Oxford.

This man does not understand the concept of "Enough". He was not raised with it. He was only taught greed and selfishness, and the result is as we can see one who cannot create a news reporting device that is unbiased. He HAS to have his newspapers and television stations report HIS views and HIS desires, not the story, not the issues nor the facts.

I truly feel sorry for this man. In his entire lifetime he will never know the pleasure of humility or being humble. He will only know the ever present empty void that needs to be CONTINUALLY filled with more more more. I am sorry for you Rupert Murdoch. I wish you could have been raised by parents as brilliant and inspiring as my own. Sometimes being rich leads you to be the poorest man on the entire planet. The poorest man in wealth in terms of business ethics. Have pity, not anger when you think of him. Do not hate him, do not wish foul things for this man for the blackness in his heart is surely the worst thing that could EVER be wished upon any human being.



posted on Mar, 22 2011 @ 02:20 PM
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reply to post by idonotcollectstamps
 


Excellent write up. Honestly, I think the guy is the emperor from Star Wars, so it's hard for me to empathize.




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