The relevant figure is the cash paid tax rate. This is the net amount of corporate income taxes actually paid after refunds. For those four years, it was minus 46 percent, disclosure statements show.
Even on an accounting basis, which measures taxes incurred but often not actually paid for years, News Corp. had a tax rate of under 20 percent, little more than half the 35 percent statutory rate, company disclosures examined by Reuters show.
That means we borrowed money to pay for a handout to Fox “news” station, so they could pay Sean Hannity, Bill O’Reilly, and Glenn Beck multi-million dollar salaries. Talk about hypocrisy.