— President Barack Obama • During a speech before a group of executives at the White House, the second pitch he’s made for the policy in as many days. The President said he agreed with critics who claim the policy doesn’t put a large enough dent in our debt, saying that the absence of a complete fix was not an excuse for inaction, and that it would be “something that will get us moving in the right direction.” Obama also took aim at Republican opposition, saying, “If Republicans in Congress were truly concerned with deficits and debt, then I’m assuming they wouldn’t have just proposed to spend an additional $4.6 trillion on lower tax rates….for every millionaire in America.”source (via • follow)
Reuters just posted this:
“Please be advised that the David Cay Johnston column published on Tuesday stating that Rupert Murdoch’s U.S.-based News Corp made money on income taxes is wrong and has been withdrawn. News Corp’s filings show the company changed reporting conventions in its 2007 annual report when it reversed the way it showed positive and negative numbers. A new column correcting and explaining the error in more detail will be issued shortly.”
That advisory is referring to this column (we can’t guarantee how much longer that link will work).
On Morning Edition today, Johnston made the case that News Corp. had utilized “off shore [tax] havens” to report “a theoretical loss” — and that the company did not do anything illegal. Apparently, he did not factor in the change in the way the company reports its results.
Rupert Murdoch’s News Corp. is at the center of a media firestorm, of course, because of the scandal over information that some of its British news outlets allegedly illegally collected about thousands of people, from the royal family and prominent politicians to victims of the 9/11 attacks.
Update at 3:40 p.m. ET: NPR says that “Johnston is expected to appear on Morning Edition Thursday to offer further clarification. We will provide updates as they become available.”