(National Sentinel) Hypocritical: Not so long The New York Times joined the chorus of other American Pravda media outlets panning the tax reform plan proposed and eventually passed by the Republican Congress and President Donald J. Trump.
The complaints were as familiar as they were incorrect — that the plan was primarily a “tax cut for the rich” and that “ordinary Americans” weren’t really going to be affected at all.
A recent editorial board Op-Ed in the Times was typical.
“Well-Heeled Investors Reap the Republican Tax Cut Bonanza,” was the headline of a February opinion piece characterizing the cuts as a sop for the rich at the expense of the poor.
“After President Trump signed the Republican tax cut into law, companies put out cheery announcements that they were giving workers bonuses because of their expected windfalls from the tax reductions,” The Times said.
“The president and Republican lawmakers quickly held up these news releases as vindication for their argument that cutting the top federal corporate tax rate to 21 percent, from 35 percent, would boost workers’ incomes even as it added $1.5 trillion to the debt that future generations would have to pay off.”
First of all, we can’t remember a time during the Obama presidency when the national debt was well on its way to doubling from $10 trillion in 2009 to $20 trillion eight years and two terms later, when this paper or any other Left-wing propaganda organ cared a whit about the national debt.
Now that Republicans are in charge, suddenly it’s a big deal.
Secondly, the Times, like all the other Pravda publications and networks, has never favored allowing Americans and American companies keep more of what they earn.
Also, these same media flat-out refuse to report the truth when it comes to income taxes: The top 40 percent of earners in American pay 106 percent of those taxes, while the bottom 40 percent of earners pay negative 9 percent.
But the Times’ criticism of the tax cuts and its complaints that they mostly help “corporations” is especially hypocritical given that the Times is a corporation and saw a major decline in its income tax bill last quarter.
As noted by Conservative Tribune:
According to a statement from the company, its tax liability was almost halved in the first quarter of 2018 “primarily” because of Trump’s tax cuts, despite higher profits. And lo and behold, it doesn’t appear as if they’re giving the money back to the federal government.
“Operating profit rose to $34.1 million in the first quarter of 2018 from $27.8 million in the same period of 2017, principally driven by strong digital subscription revenues, which were partially offset by higher operating costs and lower print advertising revenues,” the paper said in a statement Thursday.
“Adjusted operating profit … increased to $55.5 million in the first quarter of 2018 compared with $50.2 million in the first quarter of 2017.”
Despite this rise in profits, the Times only “had income tax expense of $5.3 million in the first quarter of 2018 compared with $10.7 million in the first quarter of 2017.”
“The decrease was primarily due to a reduction in the U.S. federal corporate income tax rate which took effect in 2018, and a tax benefit from stock-based compensation,” said that statement.
Do we think the Times will be sending the Trump administration and Republicans a thank-you note or publishing an op-ed soon praising the cuts and touting how much more profitable the paper has become, thanks to their income tax rate reduction?
Of course not. The Times has been so wrong and so disingenuous about taxes in the past we don’t expect them to break out of their cycle of hypocrisy.
But no matter. We wanted our readers to know the truth.