Smug Ed Schultz Forced to Admit Huge Blunder About News Corp.

On "The Ed Show" July 12, Schultz claimed he knew why Fox pundits such as Bill O'Reilly oppose President Obama's call for higher taxes on the wealthy ... "Tax profits" that quickly turned to tax payments, Schultz told his audience last night, perhaps after an exchange of clarifying phone calls between lawyers at News Corp. and MSNBC ... absent from both segments was any mention of General Electric, parent company of MSNBC -- in other words, your boss prior to Comcast acquiring NBC Universal in January 2011 -- paying no federal taxes in 2010. And by the way, $4.8 billion in taxes on $10.4 billion in profit is a tax rate of 46 percent -- 11 points higher than the corporate tax rate of 35 percent.