04/20/2017

Bill O’Reilly: Fox News Ouster ‘Tremendously Disheartening,’ Based On ‘Unfounded Claims’

Joe Flint, Wall Street Journal

Fox News announced the departure of Bill O’Reilly in the wake of a sexual-harassment scandal, bringing an end to the popular host’s two-decade run at the TV network.

The decision to cut ties with Mr. O’Reilly, a staple of the Fox News Channel since its launch in 1996, is a sea change for both the network and its parent company 21st Century Fox . FOX -0.80%

Mr. O’Reilly is being swept out of Fox News after revelations that he and the company paid settlements to women who accused him of sexual harassment and verbal abuse.

The New York Times report detailing the $13 million paid to five women who worked at or appeared on his show led to dozens of advertisers boycotting his program and brought a slew of negative attention to the company. “After a thorough and careful review of the allegations, the company and Bill O’Reilly have agreed that Bill O’Reilly will not be returning to the Fox News Channel,” 21st Century Fox said in a statement Wednesday.

Mr. O’Reilly has denied any wrongdoing, saying he paid settlements to “put to rest any controversies to spare my children.”

“It is tremendously disheartening that we part ways due to completely unfounded claims,” Mr. O’Reilly said in a statement Wednesday. “But that is the unfortunate reality many of us in the public eye must live with today. I will always look back on my time at Fox with great pride in the unprecedented success we achieved and with my deepest gratitude to all my dedicated viewers.”

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Thanks to "bracket creep," the inflation of the 1970s pushed millions of taxpayers into higher tax brackets even though their inflation-adjusted incomes were not rising. To help offset this tax increase and also to improve incentives to work, save, and invest, President Reagan proposed sweeping tax rate reductions during the 1980s. What happened? Total tax revenues climbed by 99.4 percent during the 1980s, and the results are even more impressive when looking at what happened to personal income tax revenues. Once the economy received an unambiguous tax cut in January 1983, income tax revenues climbed dramatically, increasing by more than 54 percent by 1989 (28 percent after adjusting for inflation).

 

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