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While FOX News Waves The Flag Of Patriotism, Rupert Murdoch Dodges US Taxes

Reported by Ellen - March 28, 2005

An article in yesterday's Observer begins:

Rupert Murdoch last week floated his family's 3.8 billion-pound personal investment company in Bermuda - saving himself 522 million pounds in taxes.
Bermuda was chosen because the media tycoon, who chairs News Corporation, wanted to avoid the taxman after his firm changed domicile from Australia to the United States recently. Just prior to the Bermuda float, Murdoch bought a 20-room, three-floor residence opposite Central Park in Manhattan for 22 million pounds. Days later he bought a house in Beijing.

Comment: As of March 24, the conversion rate was 1 pound to 1.87 US dollars. That means Murdoch avoided more than $976 million in taxes. I wonder how many armored humvees that would have paid for?

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