Obama May Consider Nonprofit Status for Newspapers

NewsMax ^ | 9/22/09 | Lowell Ponte

[pissant]

President Barack Obama says he would be “happy to look at” legislation to bail out, with juicy tax breaks, newspapers that restructure into “nonprofit” businesses.

Good journalism, Obama told editors of the Pittsburgh Post-Gazette and Toledo Blade in an interview, is “critical to the health of our democracy.”

But once-dominant newspapers — especially those whose news and editorials slant liberal and pro-Democrat — have been losing readers and advertising

dollars to Internet sites with more diverse views. Since January 2008, 26,000

newspaper jobs have been eliminated, and several prominent newspapers have filed for bankruptcy.

Obama appears to be throwing this tax-exemption life preserver to save his party's old political allies from extinction. Would he do likewise if most newspapers promoted conservative or Republican views? Would all newspapers — or only politically-favored ones — get secure tax-free status?

[SECURE AMERICA]

Good journalism, Obama told editors of the Pittsburgh Post-Gazette and Toledo Blade in an interview, is “critical to the health of our democracy

Uh hey Barry.. America is NOT a Democracy. It is a REPRESENTATIVE REPUBLIC. As in you are supposed to represent us not Socialism Communism Marxism Terrorism Obamaism etc.

[certrtwngnut]

And they say they won’t bring back the fairness doctrine. Y’all are right- it gets scarier every day.

[MrEdd]

If they make them non profit, livery stables will come back.

[khnyny]

Hasn't Obama ever heard of the economic term "creative destruction"?

Old business models die as new business models and new technologies are born. We're driving cars now instead of horse carriages...

[Let's Roll]

I thought you couldn’t be tax exempt if you were politically active?

Not that, that has stopped the NAACP, NARAL, NOW, Greenpeace etc.