Government Subsidies for Newspapers Circa 1943
Tom Bowers at NewsObserver.com thinks newspapers operating as nonprofits are a “slippery slope.” He says tax exemption is another name for a government subsidy. Which is like saying all road building is socialism. Technically correct, yes but just a little hyperbolic. He writes:
The legislation was introduced on May 4, 1943 by Sen. John Bankhead, an Alabama Democrat. The Bankhead bill’s purpose — to “provide for more effective use of idle currency” and encourage citizens to purchase War Bonds — was silent about subsidizing newspapers, but it directed the treasury secretary to spend from $25 million to $30 million annually, divided equally between weeklies and dailies, without consideration of selling effectiveness of individual newspapers.
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