SHORT TAKES ON THE DRIFTING WRECKAGE – OVERNIGHT:

COULD THIS BE CORRUPTION?  NAH! – OVERNIGHT:  How to buy influence and stay in power.  From Americans for Tax Reform:  The reconciliation bill working its way through the U.S. House calls on the American taxpayer to subsidize Democrats' media allies. The bill provides a special tax cut for the media under the guise of helping "local journalists" but eligible media companies will receive the funds for up to 1,500 reporters per company.  This provision would provide a refundable payroll tax credit equal to 50 percent of wages up to $12,500 per quarter per employee for the first four calendar quarters and a 30 percent credit for each calendar quarter thereafter.  On page 1,957 of the 2000+page bill, section 138516 would create a tax credit for news organizations, including newspapers and broadcasters such as radio and television.  The Poynter Institute today bragged that the tax handout would benefit "broadcasters, public and commercial" in addition to newspapers.  It appears that both NPR and PBS will be eligible to receive this special tax handout. The bill specifically mentions that the credit is not to be applied to “the Government of the United States, the government of any State or political subdivision thereof, or any agency or instrumentality of any of the foregoing”; however there is an exception for public broadcasting entities as defined in the Communication Act of 1934.   Incredible.  This is outright buying of favorable press coverage.  Will the GOP please get on this and expose it.  Make it big.  This is real third-world corruption.

November 4, 2021