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Senate Bill Would Allow Tax-Exempt Status for Newspapers
Editor and Publisher ^ | March 24, 2009 1:08 PM ET | Mark Fitzgerald

Posted on 03/24/2009 12:47:27 PM PDT by Red Steel

CHICAGO Newspapers perform a public service for democracy and should be allowed to operate as tax-exempt non-profits, U.S. Sen. Benjamin Cardin, D.-Md., proposed Tuesday.

Cardin introduced a bill that would explicitly include newspapers among organizations eligible for 501(c)(3) status. The non-profit status is the same that public radio and television have now.

The legislation would give a national green light for newspapers to adopt the so-called Low Profit Limited Liability Company business model, often shortened to L3C.

The L3C model, which the Newspaper Guild supports as an alternative newspaper ownership model, is the subject of a feature story in the current print issue of Editor & Publisher.

Under Cardin's legislation, newspaper revenue would be tax-exempt, and contributions to papers would be tax deductible. The status would also allow non-profits to invest in newspapers, something that is forbidden now.

Cardin said action is needed to help preserve local newspapers.

"We are losing our newspaper industry," Cardin said in a statement. "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."

The Associated Press quoted him as saying on the Senate floor, "As local papers are closing, we're losing a valuable tradition in America -- critically important to our communities, critically important to our democracy."

Newspapers that accept non-profit status would not be allowed to endorse candidates, but they could cover political news just as they do now, Cardin said.


TOPICS: Breaking News; Business/Economy; Culture/Society; Front Page News; Government; News/Current Events; US: Maryland
KEYWORDS: 111th; 2008electionbias; 501c3; 501c3taxcheats; achillwind; agenda; america2point0; bailout; benjamincardin; bigmedia; cardin; collusion; communism; communismkills; congress; corporatewelfare; corruption; cultureofcorruption; democratcongress; democrats; democratscandals; dncmediamachine; dnctalkingpoints; drivebymedia; economy; enemedia; fishwrap; goebbelswouldbeproud; houseorgan; ivorytower; l3c; lamestreammedia; liberalmedia; liberals; lping; maryland; msm; neomarxism; newspapers; nonprofits; obamedia; orwelliannightmare; pelosipapers; presstitutes; puppetmedia; senate; stalinisttactics; statemedia; taxdollarsatwork; taxexempt
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To: Red Steel
My business is suffering too!

Hey, I have an idea, how about making ALL businesses tax exempt? Implement a Fair Tax or Flat Tax and watch the economy go berzerk.

I know, it's too easy for the dolts in Washington to figure this out.

81 posted on 03/24/2009 2:01:25 PM PDT by unixfox (The 13th Amendment Abolished Slavery, The 16th Amendment Reinstated It !)
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To: Red Steel

Cardin is not worthy of his office


82 posted on 03/24/2009 2:02:24 PM PDT by Psycho_Bunny (ALSO SPRACH ZEROTHUSTRA)
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To: Danae
I don't get why you inserted the < /sarc>

Everything you said is absolutely and undeniably true.

83 posted on 03/24/2009 2:03:03 PM PDT by kinsman redeemer (The real enemy seeks to devour what is good.)
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To: Red Steel

Just another bailout...

Then again... with the depth of their devotion to the Obamessiah they might as well get a “church-based” tax exemption!!! ;)


84 posted on 03/24/2009 2:03:29 PM PDT by LibertyRocks ( http://LibertyRocks.wordpress.com ~ ANTI-OBAMA STUFF : http://cafepress.com/NO_ObamaBiden08)
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To: Red Steel
Low Profit Limited Liability Company

Beam me up Scotty. There is no intelligent life down here.

85 posted on 03/24/2009 2:05:15 PM PDT by Ditto
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To: Red Steel

And we all know how impartial NPR and PBS are...


86 posted on 03/24/2009 2:05:15 PM PDT by BlueNgold (... Feed the tree!)
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To: Red Steel

Hey, why not just rename them the “Ministry of Propaganda” and be done with it?


87 posted on 03/24/2009 2:05:56 PM PDT by Antoninus (So now "change" is defined as "more of the same, but worse"?)
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To: Red Steel
"As local papers are closing, we're losing a valuable tradition in America

I said the same thing about wax cylinder recordings, vinyl records, and 8-track tapes.


88 posted on 03/24/2009 2:06:14 PM PDT by TomGuy
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To: facedown

“Newspapers that accept non-profit status would not be allowed to endorse candidates, but they could cover political news just as they do now, Cardin said.”

No kidding, hey? Just as they do now... and make them government owned and non-exempt. They are getting more clever and bolder by the minute.


89 posted on 03/24/2009 2:07:08 PM PDT by Wisconsinlady
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To: Hardastarboard
I’m no tax genius here, but if you’re losing money, you don’t pay taxes anyway.

Actually you do. Lots of state and local taxes are not on profit, they are on assets or activities.

90 posted on 03/24/2009 2:09:00 PM PDT by Ditto
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To: Red Steel

Cardin is a total a******.


91 posted on 03/24/2009 2:14:43 PM PDT by Albion Wilde ("Praise and worship" is my alternate lifestyle.)
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To: kinsman redeemer

It was more to illustrate how true I believe the statement to be true. I was trying to be sarcastic in a Glen Beck sort of way...


92 posted on 03/24/2009 2:17:04 PM PDT by Danae (Amerikan Unity My Ass)
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To: TomGuy

My greatgrandfather was a very successful horseshoer, with contracts for shoeing police and fire department horses.
He would NOT have wanted to propose that they get subsidized instead of getting motorized transportation, when the combustion engine became available.


93 posted on 03/24/2009 2:18:49 PM PDT by maica (Barack Obama is a Communist Party Project.)
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To: Red Steel
"We are losing our newspaper industry," Cardin said in a statement. "

Ummmm, we "lost" the buggy whip industry too.

The Conestoga wagon industry...

And the whaling industry.

And the typewriter industry. Life moves on...

Cardin's an idiot.

94 posted on 03/24/2009 2:20:11 PM PDT by GOPJ (Dem's are making *an example of AIG - business will fall in line or else. (*Easier to "shake-down"))
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To: Red Steel
"We are losing our newspaper industry," Cardin said in a statement. "

Ummmm, we "lost" the buggy whip industry too.

The Conestoga wagon industry...

And the whaling industry.

And the typewriter industry. Life moves on...

Cardin's an idiot. PEOPLE VOTE WITH THEIR DOLLARS IN A FREE COUNTRY. AND IN THIS DEMOCRACY THEY'RE VOTING "NO" TO NEWSPAPERS.

95 posted on 03/24/2009 2:21:11 PM PDT by GOPJ (Dem's are making *an example of AIG - business will fall in line or else. (*Easier to "shake-down"))
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To: wac3rd
I get it... A pro-Liberal institution fails...it gets tax-exempt status.

But talk radio is being slammed... The Libs have no conscience.

Yes, you do "get it".

96 posted on 03/24/2009 2:23:28 PM PDT by GOPJ (Dem's are making *an example of AIG - business will fall in line or else. (*Easier to "shake-down"))
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To: Red Steel

Newspapers, but not news magazines? How about talk radio? How about network news? How about cable news? On and on and on we could go...

Could never have made this sh*t up.


97 posted on 03/24/2009 2:24:17 PM PDT by ScottinVA (Christian and armed)
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To: Red Steel
This means there will probably be a clause that says they will be tax-exempt as long as they print what is approved by the Govt.

Who's next? TV? Radio? (except of course stations that carry conservative talk shows).

98 posted on 03/24/2009 2:25:57 PM PDT by CitizenM ("An excuse is worse than an lie, because an excuse is a lie hidden." Pope John Paul, II)
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To: Red Steel

The Rush Tribune, with a Radio adjunct.


99 posted on 03/24/2009 2:28:28 PM PDT by Uncle Miltie (A trillion here, a trillion there, and pretty soon you are talking about Zimbabwe money.)
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To: Red Steel

The tax code is becoming a patronage system.


100 posted on 03/24/2009 2:30:49 PM PDT by Uncle Miltie (A trillion here, a trillion there, and pretty soon you are talking about Zimbabwe money.)
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