Murdoch’s News Corp Generated $10.4 Billion Profits And Received $4.8 Billion In “Taxes” From The IRS By Tyler Durden

12 July 2011 — Information Clearing House

July 12, 2011 “Zero Hedge” – – Call it the gift that keeps on giving (if one is a corporation that is): the US Tax system, so effective at extracting income tax from America’s working class, is just as “effective” at redistributing said income tax at the corporate level. Case in point: News Corp, which after generating $10.4 billion in profits over the past 4 years, and which would have been expected to pay the IRS $3.6 billion at the statutory corporate tax rate, instead received $4.6 billion back from Uncle Sam. Bottom line: Murdoch’s corporation had a cash paid tax rate of -46% between 2007 and 2010. The culrpit: two little somethings called Deferred Tax Assets and Net Operating Loss Carry-forwards.

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Murdoch's News Corp Generated $10.4 Billion Profits And Received $4.8 Billion In "Taxes" From The IRS By Tyler Durden

12 July 2011 — Information Clearing House

July 12, 2011 “Zero Hedge” – – Call it the gift that keeps on giving (if one is a corporation that is): the US Tax system, so effective at extracting income tax from America’s working class, is just as “effective” at redistributing said income tax at the corporate level. Case in point: News Corp, which after generating $10.4 billion in profits over the past 4 years, and which would have been expected to pay the IRS $3.6 billion at the statutory corporate tax rate, instead received $4.6 billion back from Uncle Sam. Bottom line: Murdoch’s corporation had a cash paid tax rate of -46% between 2007 and 2010. The culrpit: two little somethings called Deferred Tax Assets and Net Operating Loss Carry-forwards.

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The Ecology of Socialism: John Bellamy Foster Interviewed by Solidair/Solidaire

26 April 2011 — MRZine

Solidair/Solidaire, the weekly journal of the Workers Party of Belgium (PVDA-PTB), interviewed John Bellamy Foster, editor of Monthly Review, 26 April 2010

Solidair/Solidaire: Many green thinkers reject a Marxist analysis because they think that the Marxist approach to the economy is a very productivist one, focused on growth and seeing nature as “a free gift” to mankind.  You contradict that idea.

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EU bailout of Greece – “robbery and swindle” — RT

29 June 2011 — RT

On the streets of Athens the voices of discontent are growing louder. From the next bailout installment the Greek politicians are eager to receive, the people will not get a penny, experts believe.

‘Not a cent of this bailout money actually comes into the Greek economy,’ author and economic analyst Nick Skrekas told RT. ‘It all goes out into interest payments and repayments.’

Whilst the battle is on to save the banks and prevent a large-scale financial crisis, for the Greek people the price is simply too high.

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