Rupert Murdoch, communist?

The common rap on FoxNews is that it is a bastion of right wing talking points. That is probably true, but that doesn’t mean Rupert Murdoch is a conservative, any more than Warren Buffett cares about American working families when he proposes that America renew the inheritance tax. The political stances of both men are crafted in large part by their personal, financial gain. Buffett built his empire by gobbling up smaller family businesses following the death of a major shareholder. Few family businesses of any size can manage a 50% tax on all assets. Buffett would come in and soon become lead shareholder.

As for Murdoch, he saw a huge market to be exploited in television news, and he shrewdly exploited it. That he contributed to Al Gore’s, George W Bush’s, and Hillary Clinton’s campaigns should tell you he is no party ideologist but rather hedging his bets to fend off the fairness doctrine types so he can retain his profits.

Which brings us to China. This article lays out Murdoch’s attempts to bend over backwards to appease the Chinese communist government at all costs. This does not bode well for the democratic critics of China.

In speeches and interviews, Mr. Murdoch often supports the policies of Chinese leaders and attacks their critics. A group of China-based reporters for The Journal accused him in a letter to Dow Jones shareholders of “sacrificing journalistic integrity to satisfy personal and political aims,” a charge the News Corporation denies.

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4 Responses to “Rupert Murdoch, communist?”

  1. Rip Says:

    Murdoch is an interesting character. Regardless of which campaigns he contributes to, it’s safe to say he’s a conservative. Would a liberal (businessman or not) be able to sleep at night knowing that they controlled Fox News??? I’m not sure of what to make of his China pursuit; my best guess is that it’s pure $$$. The current losses are to be expected in what is a very much a long-term effort to become an “insider” in that rapidly-expanding market.

    Your comments on Buffett make it sound like he became the third richest person in the world by exploiting the tax code. C’mon…he’s a damn genius that identified the right companies time and time again over the past 50+ years. Many of his biggest winners (such as Coke and Geico) did not involve the death of a major shareholder. Also, at this point in his life, he’s not buying small family businesses and therefore wouldn’t benefit from a renewal of the inheritance tax.

  2. JohnnyB Says:

    Rip,

    With regards to Murdoch, check the article and note the fact that he’s married to a mainland Chinese. Do the math and figure that it won’t be long before mainland China will be calling the shots for Fox News and maybe even the Wall Street Journal, and not Murdoch’s heirs. You may remember he had a falling out with his son recently, probably had something to do with the new Mom. It may be just $$$ but note that it has been the NY Times and not Fox News that’s been breaking story after story on these shoddy and deadly Chinese exports.

    As for Buffett, let me offer an analogy. As you may know, I sold books door-to-door a while back with Butch. Every time I read about restrictions banning door-to-door solicitation I get fired up. Now, I may never knock on a door again in my life, but I remember the opportunity it afforded me.

    I read an article (I can’t get my hands on it now) on how Buffett built his empire and he had a systematic way of exploiting old family businesses. Obviously he made many other successful investments, but when W wanted to phase out the death tax Buffett was one of the major critics, and every newspaper carried it. My point is that Buffett was not being altogether altruistic when he came out against repealing the death tax. A persons’ history and future prospects should be considered when someone is influencing policy.

  3. Rip Says:

    I read the article (skimmed it before my last posting, actually). To say that Murdoch influences the lack of critical articles regarding Chinese imports (which I would agree with) is to say he influences the plethora of Pro-Republican content coming from Fox News (which I also agree with) and therefore is a conservative. The point regarding his wife is well-received. If there’s anything that can control a man’s decision-making more than $$$ or ideology, it would be his wife. As I said before, he’s an interesting character.

    I agree that a person’s history and future prospects can’t be ignored as it relates to their policy views. However, for Buffett, I think that he supports the death tax because it helps to level the playing field (basically, since he started small, he believes everyone should do the same). I once read that he’s leaving each of his children only $1 million; he’s doesn’t seem to be a fan of wealth passed down through generations. Also, he has identified in the past with the Democratics on various issues, so I’m not surprised about his view regarding this matter.

    Lastly, regarding Logipundit Taboo Topic #1, I believe that neighborhoods should be able to ban solicitors – and I’m sure that anyone else with an infant/toddler at home during the day would empathize with me. However, I wouldn’t want such actions to occur at the State/Federal level (like the Do-Not Call list). Logipundit – If I’m banned from future postings on this site, I completely understand.

  4. Rip Says:

    Let me get in one additional posting before I’m banned. I just read your link regarding the Buffett fundraiser. As I was saying, Buffett’s been in the Democrats’ camp for a while. Unfortunately, it looks like his investing astuteness does not translate into political astuteness.


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