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A U.S. citizen since 1985, Rupert Murdoch avoids the tax hassles of his fellow Americans by basing his News Corporation conglomerate in Australia and spreading his 789 business units among 52 countries, including sunny tax havens such as the Cayman Islands and Bermuda. While News Corp.’s annual report says the majority of its income comes from U.S. operations, the company reportedly uses a combination of international tax law and fancy paperwork to show losses on its U.S. ventures and profits in its low-tax locations. As a result, according to the Washington Post, News Corp. paid $103 million in taxes worldwide last year on a $1.32 billion operating income—a paltry 7.8 percent effective tax rate. That’s about a third of what the biggest U.S. media groups paid. So far, Murdoch’s bookkeepers have kept him legally afloat. According to Business Week, the latest close call—Israel’s largest tax investigation ever—ended with a mere $4 million fine.

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Thank you!

We didn't know what to expect when we told you we needed to raise $400,000 before our fiscal year closed on June 30, and we're thrilled to report that our incredible community of readers contributed some $415,000 to help us keep charging as hard as we can during this crazy year.

You just sent an incredible message: that quality journalism doesn't have to answer to advertisers, billionaires, or hedge funds; that newsrooms can eke out an existence thanks primarily to the generosity of its readers. That's so powerful. Especially during what's been called a "media extinction event" when those looking to make a profit from the news pull back, the Mother Jones community steps in.

The months and years ahead won't be easy. Far from it. But there's no one we'd rather face the big challenges with than you, our committed and passionate readers, and our team of fearless reporters who show up every day.

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