Fox Business attacks measure that would repeal News Corp’s massive tax loophole #p2

The Fox Business Network ran a negative report on a California ballot initiative that its parent company, Rupert Murdoch's News Corporation, has spent over a million dollars to defeat, according to New York Times.

As part of an ongoing report entitled "The War on Business," Fox business correspondent Adam Shapiro repeatedly stated that Proposition 24, also known as the Tax Fairness Act, could drive small businesses out of California.

His five hour report took place at a furniture manufacturing facility in Gardena, California where he interviewed owner Ben Nielsen, who was also interviewed by the group "No on 24."

If passed, Proposition 24 would repeal $1.7 billion in corporate tax breaks passed in late 2008.

Those supporting the repeal of the corporate tax breaks claim it is draining state revenue while those in favor of the tax breaks say it allows employers to expand their business.

rest http://www.rawstory.com/rs/2010/11/fox-business-network-news-corp/