Tea For Two

If a government is large enough to give you everything what you want

it is large enough to take everything you have.

-Davy Crockett

Socialism is a philosophy of failure, the creed of ignorance,

and the gospel of envy, its inherent virtue is the equal sharing of misery.

-Winston Churchill

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The New York Times Paid No Taxes in 2014 Subscribe to comments to this posting
Posted by Fat   •   Sunday, 2016-October-02
For tax year 2014, The New York Times paid no taxes and got an income tax refund of $3.5 million even though they had a pre-tax profit of $29.9 million in 2014. In other words, their post-tax profit was higher than their pre-tax profit. The explanation in their 2014 annual report is, “The effective tax rate for 2014 was favorably affected by approximately $21.1 million for the reversal of reserves for uncertain tax positions due to the lapse of applicable statutes of limitations.” If you don’t think it took fancy accountants and tax lawyers to make that happen, read the statement again.
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