Posted on 11/17/2019 8:32:08 PM PST by LesbianThespianGymnasticMidget
The New York Times accused FedEx on Sunday of essentially having lobbied President Donald Trump to sign tax cuts into law with the promise of businesses using the saved money to reinvest in and further grow their companies, and then failing to invest the billions of dollars that it reportedly saved as a result of the tax cuts.
“In the 2017 fiscal year, FedEx owed more than $1.5 billion in taxes. The next year, it owed nothing. What changed was the Trump administration’s tax cut – for which the company had lobbied hard,” The New York Times reported on Sunday...
FedEx CEO Frederick Smith responded...
“The New York Times published a distorted and factually incorrect story on the front page of the Sunday, November 17 edition concerning FedEx and our billions of dollars of tax payments and billions of dollars of investments in the U.S. economy,” Smith wrote. “Pertinent to this outrageous distortion of the truth is the fact that unlike FedEx, the New York Times paid zero federal income tax in 2017 on earnings of $111 million, and only $30 million in 2018 – 18% of their pretax book income. Also in 2018 the New York Times cut their capital investments nearly in half to $57 million, which equates to a rounding error when compared to the $6 billion of capital that FedEx invested in the U.S. economy during that same year.”
“I hereby challenge A.G. Sulzberger, publisher of the New York Times and the business section editor to a public debate in Washington, DC with me and the FedEx corporate vice president of tax,”...
(Excerpt) Read more at dailywire.com ...
Wow.
About darned time. Wow.
Fight. Fight. Fight.
Never back down.
Quite interesting information about this man.
Trump supporters everywhere are following his example on how to fight the left.
Maybe the world’s most successful term paper...
Well, they didn't go under after all, to put it mildly.
Be nice if the repubics in congress would learn
Sounds like the IRS might want to have a little “debate” with the NY Times too. lol
FedEx is a publicly traded company. Don’t they have to put out their usual yearly statements, like income statement and balance sheet? You could also infer taxes paid from that.
Payroll taxes, too - for boatloads of employees.
4. He was friends with prominent political figures in a college era secret society
When Fred Smith attended Yale University, he joined a secret organization called the Skull and Bones Society. While a member of the group ,he developed a friendship with Senator John Kerry. He also came to know George W. Bush and the two shared membership with the Skull and Bones society as well as being frat brothers in Delta Kappa Epsilon. He and Bush were just acquaintances, but Smith had a close friendship with Kerry.
to which the NYTs responded”
Mr FedEx CEO Frederick Smith is a big poopie head, and we don’t debate anything with big poopie heads- so there- take that you big poopie head- we’re right, you’re wrong, and that is settled science! Stop trying to confuse people with facts- oh, and we hate you! You big poopie head.
Strange, that the NYT has no issues that Bezos pays no taxes.
And which company has benefited the public and the nation more? FedEx or the NYT? I’m fine with cutting FedEx some slack.
My husband recently retired. However, he felt that he needed some structure to his life. He’s now working part time for FedEx and loves it.
bttt
Awhile back I heard a story about FedEx's early years. The company was failing and almost bankrupt. Frederick Smith told his board members to go home and pray and ask God to show them what to do.The gambling gods must have answered because the story I heard was he went to Vegas and made payroll on the craps tables...
You didn't actually think money dropped down from heaven did you?
Fred Smith is great Friends with John Kerry. So don’t be too sure.
Hooray!
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