Murdoch, Dow Jonesand the South Brunswick taxpayer

I tink Paul Krugman is correct about the potential sale of Dow Jones and The Wall Street Journal to Rupert Murdoch and News Corp. It will be a dark day for journalism if it happens.

It also could create issues in South Brunswick, where Dow Jones has its headquarters and a major regional printing plant. (And ramifications for my own financial security — my wife works there.) Should Murdoch opt to layoff large numbers of Dow Jones employees, close the Kilgore facility (named for the father of the Packet’s publisher) or severely alter its use, it could cause a change in its tax valuation and reduce the amount it has to pay for taxes. At one time — I don’t have the current numbers — Dow Jones was paying 2 cents of every tax dollar collected by the township. That’s not chump change by any means. If its tax payments are cut, then the rest of us who live in South Brunswick will have to pick up the rest of the tab.

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Author: hankkalet

Hank Kalet is a poet and freelance journalist. He is the economic needs reporter for NJ Spotlight, teaches journalism at Rutgers University and writing at Middlesex County College and Brookdale Community College. He writes a semi-monthly column for the Progressive Populist. He is a lifelong fan of the New York Mets and New York Knicks, drinks too much coffee and attends as many Bruce Springsteen concerts as his meager finances will allow. He lives in South Brunswick with his wife Annie. View all posts by hankkalet