Senator Proposes Nonprofit Status For Newspapers 426
The AP is reporting that a senator has introduced legislation that would allow struggling newspapers to operate as nonprofits, similar to the way public broadcasting works. "[Sen. Benjamin] Cardin [D-Md.] 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. ... The head of the newspaper industry's trade group called the bill a positive step."
Re:What a good idea (Score:1, Funny)
You can go back to not posting.
Thanks,
Anonymous Coward.
Like Public Broadcasting? (Score:3, Funny)
You mean we can look forward to having an entire week's worth of issues, once a quarter, be full of nothing but spots begging for donations? Yeah, that'll make subscription rates soar!
Re:What a good idea (Score:5, Funny)
The thing is, if you give up trying to be unbiased, you get Fox News.
Or the Economist. Bias is OK as long as you acknowledge it - does Fox still claim to be fair and balanced?