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Posted on 11/05/2021 10:35:01 AM PDT by marcusmaximus
The lucrative $50,000-per-year journalist tax break that Democrats have tucked within President Biden’s multi-trillion dollar social welfare bill is estimated to cost taxpayers more than $1.6 billion over the next decade.
A new analysis of the legislation by the Joint Committee on Taxation, a special congressional panel made up of 10 senior lawmakers from both chambers of Congress, found that taxpayers would be on the hook for more than $1.6 billion if the tax credit becomes law.
The credit would allow “local news” outlets to receive a quarterly tax credit, “equal to 50%” of a journalist’s wages up to a cap of $12,500-per-quarter.
Overall, eligible outlets could receive as much as $50,000 annually per journalist in tax breaks through the program in its first year. In subsequent years, the credit would drop to 30% of a journalist’s wages per quarter. Democrats propose to let the tax credit expire after five years unless Congress votes to renew.
Republicans say that it amounts to a giveaway to the “mainstream news media.” They also argue it would create an improper relationship between the federal government and the nation’s leading media outlets, which could be exploited for propaganda purposes.
“Not only is this proposal a grotesque waste of taxpayer money,” said Mr. Johnson, “it would be a dangerous precedent of government collusion with the media. Biden’s collusion with the press has already caused enough damage to freedom of speech and freedom of the press.”
As written any “local newspaper publisher” that serves “the needs of a regional or local community and who employs no more than 750 employees” would be eligible. The criteria are broad enough to cover major newspapers with a national reach.
(Excerpt) Read more at washingtontimes.com ...
It’s like the horse and buggy whip. They were losing business(cars) and needed the tax subsidy. They shoda been given an anvil. Newspapers are going electronic. No need. I miss my Sunday paper and personal mug at Starbucks.
So this is payment for the media kissing the dim’s butts all these years? This is wrong.
Breathtaking THEFT!!
We should get a $50,000 tax credit for every kid living at home and an ADDITIONAL $100,000 tax credit for every kid in college!
No, and hell, no.
No wonder Pelosi was surprised that the media wasn’t promoting this bill. They are literally paying off the media (owners.)
So now the idea is that the U.S. taxpayers should subsidize the propaganda of the corporate media. When the government and corporate power structures merge its facism, and not communism or socialism as some here like to call it.
In sane times this would be called bribery.
So it's Democrat business as usual.
.......I think the Marxist/Socialist Democrats have a long term (decades) plan, aided by their Chinese Communist consultants and their money, to convert America to Marxism.
And to achieve that goal, they MUST control the Main Stream Media, giving them $50,000 each is a transparent BUY of the loyalty of the media.
The communist propaganda machine needs to be fed...
So Putin could save American Taxpayers $1.6B if he would just get off the dime?
This means they are officially Pravda and ratings will never matter again. They will be free to continue to trumpet the gov’t propaganda. I remember the 2020 election, how proud Lindsey Graham was to defeat someone who spent 100 million against him. But his opponent didn’t really spend that, it was just passed between two different democrat entities. And then to get advertising the Reps pay those same dem entities, so win or lose the dems still win.
The Ministry of Propaganda is going broke, they need a bailout from their masters.
“This news broadcast is a donation in kind to the Democrat Party.”
B R I B E R Y
They Shoot Horses, don’t they?
Whh not journ...
5.56mm
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Timely and accurate.
Go Florida!
5.56mm
Flimsey Grahamnesty should have been replaced with a real Republican in 2014 after he had already voted for amnesty and a Democrat majority THREE times.
Instead, the stupid voters of SC re-elected the Assistant Democrat TWICE.
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