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Murdoch's News Corp. Received Billions in U.S. Tax Refunds

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After digging through News Corp.'s financial disclosures, Reuters' David Cay Johnston reports that based on the company's $10.4 billion profits during that time period, the company would have been expected to pay $3.6 billion at the 35 percent corporate tax rate. But instead the company managed to collect $4.8 billion in income tax refunds, "all or nearly all from the U.S. government."

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I believe the Ed Schultz show retracted this as an... by Amy Fried, Ph.D. on Thursday, Jul 14, 2011 at 9:28:58 AM