Pirate News their worst frakkin nightmare, says Obama Bin Laden
Obama: We Need To Bailout Newspapers To Stop New Media Taking Over
President says preserving "mutual understanding" is critical to democracy
Sept 21, 2009
President Obama has stated that he is happy to consider bailing out the corporate media, expressing concerns that alternative internet based news outlets will grow in popularity as a result of the downfall of newspapers.
Obama told editors of the Pittsburgh Post-Gazette and Toledo Blade that preserving the print media is "critical to the health of our democracy".
"I am concerned that if the direction of the news is all blogosphere, all opinions, with no serious fact-checking, no serious attempts to put stories in context, that what you will end up getting is people shouting at each other across the void but not a lot of mutual understanding," Obama said.
He also indicated that readers should be made to pay for online news content in the near future:
"What I hope is that people start understanding if you're getting your newspaper over the Internet, that's not free and there's got to be a way to find a business model that supports that." he said.
Over the past year, scores of newspapers have gone out of business or shifted to online only output, due to the rise of the alternative media and the resulting loss of ad revenue. Several large newspaper corporations have filed for bankruptcy, including the Tribune Co., owner of the Chicago Tribune and the Los Angeles Times.
Obama said he "would be happy to look at" legislation aimed at providing newspapers tax-breaks if they were to restructure as 50 (c) (3) educational corporations. Democratic Senator Ben Cardin has introduced a bill in this vain titled "The Newspaper Revitalization Act."
Critics may point out that, far from being "critical" to democracy, a bailed out government subsidized media is the very antithesis of a "free press".
Government Banking and Government Motors would effectively be joined by the Government Press if bailouts were to be granted.
Bailing out the corporate media would once again constitute rewarding outdated and failing monopolies with more taxpayer dollars, thus punishing innovative forward thinking competition.
Furthermore, there is absolutely no basis for bailing out the newspapers, given that they employ less than one percent of the labor force in the United States.
The dinosaur corporate media is dying because it has proven itself to be almost wholly untrustworthy, acting as an unquestioning mouthpiece for the establishment.
Denouncing all blog based media as unreliable or without context is laughable in the face of the mainstream media's recent track record.
Newspapers Drafted by Police State: Obama open to newspaper bailout bill
By Michael O'Brien
The president said he is "happy to look at" bills before Congress that would give struggling news organizations tax breaks if they were to restructure as nonprofit businesses.
"I haven't seen detailed proposals yet, but I'll be happy to look at them," Obama told the editors of the Pittsburgh Post-Gazette and Toledo Blade in an interview.
Sen. Ben Cardin (D-Md.) has introduced S. 673, the so-called Newspaper Revitalization Act, that would give outlets tax deals if they were to restructure as 501(c)(3) corporations. That bill has so far attracted one cosponsor, Cardin's Maryland colleague Sen. Barbara Mikulski (D).
White House Press Secretary Robert Gibbs had played down the possibility of government assistance for news organizations, which have been hit by an economic downturn and dwindling ad revenue.
In early May, Gibbs said that while he hadn't asked the president specifically about bailout options for newspapers, "I don't know what, in all honesty, government can do about it."
Obama said that good journalism is "critical to the health of our democracy," but expressed concern toward growing tends in reporting -- especially on political blogs, from which a groundswell of support for his campaign emerged during the presidential election.
"I am concerned that if the direction of the news is all blogosphere, all opinions, with no serious fact-checking, no serious attempts to put stories in context, that what you will end up getting is people shouting at each other across the void but not a lot of mutual understanding," he said.
SB673: Newspaper Revitalization Act
Title: A bill to allow certain newspapers to be treated as described in section 501(c)(3) of the Internal Revenue Code of 1986 and exempt from tax under section 501(a) of such Code.
Sponsor: Sen Cardin, Benjamin L. [MD] (introduced 3/24/2009) Cosponsors (1)
Related Bills: H.R.3602
Latest Major Action: 3/24/2009 Referred to Senate committee. Status: Read twice and referred to the Committee on Finance.
To allow certain newspapers to be treated as described in section 501(c)(3) of the Internal Revenue Code of 1986 and exempt from tax under section 501(a) of such Code. (Introduced in Senate)
To allow certain newspapers to be treated as described in section 501(c)(3) of the Internal Revenue Code of 1986 and exempt from tax under section 501(a) of such Code.
IN THE SENATE OF THE UNITED STATES
March 24, 2009
Mr. CARDIN (for himself and Ms. MIKULSKI) introduced the following bill; which was read twice and referred to the Committee on Finance
A BILL To allow certain newspapers to be treated as described in section 501(c)(3) of the Internal Revenue Code of 1986 and exempt from tax under section 501(a) of such Code.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. TREATMENT OF CERTAIN NEWSPAPERS AS EXEMPT FROM TAX UNDER SECTION 501.
(a) In General- Paragraph (3) of section 501(c) of the Internal Revenue Code of 1986 is amended by inserting `(including a qualified newspaper corporation)' after `educational purposes'.
(b) Qualified Newspaper Corporation- Section 501 of the Internal Revenue Code of 1986 is amended--
(1) by redesignating subsection (r) as subsection (s), and
(2) by inserting after subsection (q) the following new subsection:
`(r) Qualified Newspaper Corporation- For purposes of this title, a corporation or organization shall be treated as a qualified newspaper corporation if--
`(1) the trade or business of such corporation or organization consists of publishing on a regular basis a newspaper for general circulation,
`(2) the newspaper published by such corporation or organization contains local, national, and international news stories of interest to the general public and the distribution of such newspaper is necessary or valuable in achieving an educational purpose, and
`(3) the preparation of the material contained in such newspaper follows methods generally accepted as educational in character.'.
(c) Unrelated Business Income of a Qualified Newspaper Corporation- Section 513 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection:
`(k) Advertising Income of Qualified Newspaper Corporations- The term `unrelated trade or business' does not include the sale by a qualified newspaper corporation (as defined in section 501(r)) of any space for commercial advertisement to be published in a newspaper, to the extent that the space allotted to all such advertisements in such newspaper does not exceed the space allotted to fulfilling the educational purpose of such qualified newspaper corporation.'.
(d) Deduction for Charitable Contributions- Subparagraph (B) of section 170(c) of the Internal Revenue Code of 1986 is amended by inserting `(including a qualified newspaper corporation as defined in section 501(r))' after `educational purposes'.
(e) Effective Date- The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.
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