Regressive Alert! Euroland and NYT!!!!

[j_b]

I agree but he is probably the type who thinks that living in fortified compounds is desirable.

[j_b]

the reality of corporate taxation and the media that tells us we had it too good and it's about to change:

 

 

Tax dodging helps Murdoch buy the Journal

 

By Lucy Komisar

Aug 1, 2007

 

Where did Rupert Murdoch get $5 billion to buy up the Wall St. Journal? Beyond normal profits, his coffers were stuffed by dodging taxes in the U.S. and elsewhere. Some of that is your money!

 

The Economist, in 1999, investigated Murdoch’s corporate tax affairs and discovered that a collection of 800 offshore companies help him cut corporate taxes to 6%!

 

[..]

 

The Economist wrote, “Finding out the specifics of News Corporation’s tax affairs is difficult because of the company’s complex structure. In its latest accounts, the group lists roughly 800 subsidiaries, including some 60 incorporated in such tax havens as the Cayman Islands, Bermuda, the Netherlands Antilles and the British Virgin Islands.

 

“This structure, dictated by Murdoch’s elaborate tax planning, has some bizarre consequences. The most profitable of News Corporation’s British operations in the 1990s was not the Sunday Times, or its successful satellite television business, BSkyB. It was News Publishers, a company incorporated in Bermuda. News Publishers has, in the seven years to June 30th 1996, made around £1.6 billion in net profits. This is a remarkable feat for a company that seems not to have any employees, nor any obvious source of income from outside Murdoch’s companies.

 

“British taxpayers have been forced to pick up a particularly large slice of Murdoch’s tax bill: since June 1987, The Economist reported, the group made £1.4 billion in profits yet paid no net British corporation tax at all.

 

[..]

 

http://thekomisarscoop.com/2007/08/tax-dodging-helps-murdoch-buy-the-journal/#comment-10946

[rob]

Where did Rupert Murdoch get $5 billion to buy up the Wall St. Journal? Beyond normal profits, his coffers were stuffed by dodging taxes in the U.S. and elsewhere. Some of that is your money!

 

Um, none of that is my money. It's the government's money.

[j_b]

well, if the looters tell us there is no money for pensions and benefits while they stuff their pockets and quasi systematically avoid paying taxes, it's effectively our money or at least the money we will never see to pay for our retirements. Especially since regressive taxation has gone up by a fair amount and it has gone toward paying for their wars and corporate welfare.

[prole]

Rupert Murdoch should be paying billions in remediation for the nonstop gusher of toxic spew his properties emit.

[KaskadskyjKozak]

Prole and j_b should be paying billions in remediation for the nonstop gusher of toxic spew they emit.

[j_b]

here comes KKK to elevate the debate ...

[prole]

Prole and j_b should be paying billions in remediation for the nonstop gusher of toxic spew they emit.

 

"Spray Master" my ass... You don't even try anymore. It's sad.

Edited May 27, 2010 by prole

[rob]

well, if the looters tell us there is no money for pensions and benefits while they stuff their pockets and quasi systematically avoid paying taxes, it's effectively our money or at least the money we will never see to pay for our retirements. Especially since regressive taxation has gone up by a fair amount and it has gone toward paying for their wars and corporate welfare.

 

Hmm...

 

Couple of points:

0. "The looters?" I thought we were talking about Murdoch. Are we talking about other people, too? Were they mentioned in this article, as well?

1. Murdoch is not responsible for my retirement in anyway, so it's not really my money, is it? I don't even work for him. I'm not expecting either pensions OR benefits from the old bastard.

2. Are you saying Murdoch is responsible for the wars?

3. Are you saying that had he paid more taxes, the government have taxed me less?

[billcoe]

http://city-journal.org/2010/20_2_california-unions.html

 

it all adds up, millions here, billions there....

[rob]

Thanks for that off-topic link, Bill. Are we changing the subject? I thought we were discussing why any of Murdoch's money is MY money.

 

Whether or not he is a fat stinking greedy pig who should be castrated and put out to field is not the issue at hand.

Edited May 27, 2010 by rob

[rob]

Incidentally, I've been seeing that phrase, "the looters" a lot. Can I get a list of who is a member of this organization? Is that basically anybody who is rich? Or only rich republicans? Can democratic fatcats be looters too? Or, is anybody you don't like a "looter?"

 

Can you name some billionaire titans of industry that are NOT looters? Just for comparison.

 

 

[j_b]

Rupert Murdoch should be paying billions in remediation for the nonstop gusher of toxic spew his properties emit.

 

Undoubtedly, but he is unfortunately more likely to have the new poodles in charge at 10 Downing street cut the BBC budget because it is too much competition for his worthless rags. All in the name of market orthodoxy of course, and especially because the BBC shows them every day that public broadcasting beats the crap out of corporate infotainment.

[tvashtarkatena]

I'm am having the pleasure of conversing pleasantly with an off shore tech support person right now, who wishes to address me in as polite and satisfactory manner as possible!

[rob]

Ask her to take her top off

[rob]

Curried sex.

[rob]

Can someone please tell Murdoch he forgot to give me some of his money??

[tvashtarkatena]

Thank you for your informations, Pat.

[billcoe]

Incidentally, I've been seeing that phrase, "the looters" a lot. Can I get a list of who is a member of this organization? Is that basically anybody who is rich? Or only rich republicans? Can democratic fatcats be looters too? Or, is anybody you don't like a "looter?"

 

 

Certainly lots of banks, JP Morgan-Chase for instance, would be looters. The bail out, wherein these large corp. financial companies get our money to use tax free, while tossing it around and getting interest for their shareholders off our our interest free $ qualifies them. Yes, dems can be looters, you can look at some of Baraks biggest contributors and if you follow up- you will see gov. money going their way. You money lets call it. Money we are borrowing at higher interest rates from China. This is getting transferred out of your pocket into theirs and we are falling behind and getting deeper in dept as it occurs. jb and I have some agreements here, but he pretty much is a one trick pony on this issue, blaming only the "fat cats". Business cycles have hit us before and we'll get through this one as well. But not quite yet, as we have more pain still I'm afraid. We've been wasting lots of money on wars, and now we need to raise jb's taxes to pay for them.

[tvashtarkatena]

I'm sorry to hear of such inconvenience on your part. I definitely understand how concerned you must be. The good new is that there is no need to worry because I will do everything I can to resolve your issue satisfactorily within this chat.

[j_b]

Hmm...

 

Couple of points:

0. "The looters?" I thought we were talking about Murdoch. Are we talking about other people, too? Were they mentioned in this article, as well?

1. Murdoch is not responsible for my retirement in anyway, so it's not really my money, is it? I don't even work for him. I'm not expecting either pensions OR benefits from the old bastard.

2. Are you saying Murdoch is responsible for the wars?

3. Are you saying that had he paid more taxes, the government have taxed me less?

 

Murdoch is a juicy example but there is widespread tax evasion. For example, and that's just the tip of the iceberg: "Worldwide, financial centres with bank secrecy laws are blamed by the Organisation for Economic Cooperation and Development (OECD), which represents 30 developed economies, for hiding some 5 to 7 trillion dollars offshore so the profits they produce evade taxes."

http://thekomisarscoop.com/2009/07/qa-tax-havens-bank-secrecy-and-tricks/

 

Murdoch was indeed a major player in propagandizing the justifications for wars through FOX but also the rest of his holdings. I can't recall the exact number but out of 250 publications he owns worldwide, all of them shamelessly pushed for attacking Iraq.

 

I am saying that if he and many others like him had paid their taxes and not enforced neoliberal restructuring (code talk for enabling the Wall Street casino through deregulation, slashing the social safety net and sending jobs overseas), there would be money to finance social programs and billions worth of pensions wouldn't have disappeared overnight.

[tvashtarkatena]

While checking your account information, I noticed that you do not yet have Comcast digital voice service. I would not want to miss this opportunity to share with you that this might be just the phone service you need.

[rob]

Incidentally, I've been seeing that phrase, "the looters" a lot. Can I get a list of who is a member of this organization? Is that basically anybody who is rich? Or only rich republicans? Can democratic fatcats be looters too? Or, is anybody you don't like a "looter?"

 

 

Certainly lots of banks, JP Morgan-Chase for instance, would be looters. The bail out, wherein these large corp. financial companies get our money to use tax free, while tossing it around and getting interest for their shareholders off our our interest free $ qualifies them. Yes, dems can be looters, you can look at some of Baraks biggest contributors and if you follow up- you will see gov. money going their way. You money lets call it. Money we are borrowing at higher interest rates from China. This is getting transferred out of your pocket into theirs and we are falling behind and getting deeper in dept as it occurs. jb and I have some agreements here, but he pretty much is a one trick pony on this issue, blaming only the "fat cats". Business cycles have hit us before and we'll get through this one as well. But not quite yet, as we have more pain still I'm afraid. We've been wasting lots of money on wars, and now we need to raise jb's taxes to pay for them.

 

So, the WHOLE bank are looters, or the just Board, or what? Anybody who has invested in Chase is a looter?

 

I thought it would be more complicated than that for some reason.

[JayB]

What's most disturbing is the sociopathic glee he takes in delivering it. What up with that?

 

IMO it's because he knows that neoliberals are winning and he is dancing on our collective grave (he has no problem with that kind of collectivism).

 

Wrong anaology. Greece is what lies at the bottom of the grave that the western entitlement state has dug for itself. There is no escape for Greece. I'm merely suggesting that we might want to stop digging before we join them there.

[prole]

You should probably give in to the "hopeless complexity" of it all and spend the rest of the day in bed numbly staring at the floating dust motes.