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> This directly contradicts what the NY Times wrote. It does not. FTA: > But the company ended its 2018 fiscal year having spent $240 million less on capital
by rndmize 7y ago
> This directly contradicts what the NY Times wrote.
It does not. FTA:
> But the company ended its 2018 fiscal year having spent $240 million less on capital investments than it predicted it would in December 2017, shortly before the tax cuts passed. The company’s capital spending declined by nearly $175 million in fiscal 2019.
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> And then they further point that the NY Times is actually guilty of what the NY Times is accusing FedEx of.
The NYT didn't lobby in favor of the tax cuts and argue it would increase business investment, then fail to actually follow through - not to mention that regardless of the NYT's corporate actions, this has nothing to do with their reporting - and on top of that, the article is about the expected effects of the tax cuts vs. the actual effects on a national level with FedEx as a salient example. Countering with "but they did too" is irrelevant to the point at hand.
> The NY Times is obviously not aware of anything FedEx did that is illegal so instead they put out a piece accusing them of paying $0 tax and not investing enough.
You are ascribing motive to the authors that has no basis in fact. The NYT is making the argument the tax cuts didn't do what they were advertised to do. It's the literal subhead on the article:
> How FedEx Cut Its Tax Bill to $0: The company, like much of corporate America, has not made good on its promised investment surge from President Trump’s 2017 tax cuts.