Senator proposes nonprofit status for newspapers

[Kadie]

Senator proposes nonprofit status for newspapers
By LARRY MARGASAK, Associated Press Writer

Tuesday, March 24, 2009

(03-24) 09:57 PDT WASHINGTON, (AP) --

Struggling newspapers should be allowed to operate as nonprofits similar to public broadcasting stations, Sen. Benjamin Cardin, D-Md., proposed Tuesday.

Cardin introduced a bill that would allow newspapers to choose tax-exempt status. They would no longer be able to make political endorsements, but could report on all issues including political campaigns.

Advertising and subscription revenue would be tax-exempt, and contributions to support coverage could be tax deductible.

Cardin said in a statement that the bill is aimed at preserving local newspapers, not large newspaper conglomerates.

"We are losing our newspaper industry," said Cardin. "The economy has caused an immediate problem, but the business model for newspapers, based on circulation and advertising revenue, is broken, and that is a real tragedy for communities across the nation and for our democracy."

Cardin said his proposal may not be the best choice for some major newspapers, but "should be an option for many newspapers that are struggling to stay afloat."


more...
http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2009/03/24/national/w083008D40.DTL&tsp=1

[jody]

1. Why not eliminate taxes for everyone, wasn't that *'s solution for everything? What's wrong with

taxes for everyone and every organization and let those that can't produce a product or service at a price able to satisfy customers go bankrupt and fail?

I don't trust a central planning committee or government subsidized production to produce products and services at a price and quality as and when needed by consumers.

[bullimiami]

2. i actually think this is a brilliant proposal.

[Belial]

3. Snicker.. the so called reporting that is done by some is

as good as a political endorsement anyway.. LOL