The Algona Upper Des Moines from Algona, Iowa on February 21, 1967 · Page 15
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The Algona Upper Des Moines from Algona, Iowa · Page 15

Algona, Iowa
Issue Date:
Tuesday, February 21, 1967
Page 15
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>^^^*»^^rf^^^^>^^^^^ > N^ l %^^<^^^^^*^** •"• Open Forum Letters • —^—^^^"^^^~ ^^^^ ^^f^ ^^^r- ^n^ "^^*- -^^- • • ™ ™ Decries Tax Loopholes Afforded Through Law TO THE EDITOR: Philip M. Stern Is the author of a book entitled "The Great Treasury Raid". Mr. Stern Is a Phi Beta Kappa Harvard graduate. He did several years of Intensive research work on U. S. Treasury reports. The material he obtained from these reports is summarized in his book entitled "The Great Treasury Raid." This book contains a detailed explanation of how many hundreds of millions of dollars of funds Uncle Sam is robbed of annually. The method of robbery Is not by any "evasion of tax" but by what is called "avoidance of tax." These "tax avoidance" provisions usually have been prepared by able attorneys employed by very wealthy persons and are invariably offered as innocently appearing amendments to tax measures. About the first of such amendments to appear was the one to allow a 27 1/2% of gross receipts as a deduction in income tax returns of the oil producing group. Since then, many other items besides oil have been added at varying rates of deductions. The following are several illustrations given in Stern's book on how these "avoidance of tax" amendments have operated. "In 1955 and 1956, the Arabian- American Oil Company (Aramco) had depletion deductions amounting to 148 million dollars and 152 million dollars respectively. This alone benefited the company by (and cost the U. S. Treasury) some 124 million dollars for the two years. So great are the after-tax of Aramco that two of its corporate owners, Standard Oil of New Jersey and Socony Mobil, were able to recover their entire original Investment in a single year. Another Treasury study of a firm labeled Individual "D" who in 1960 enjoyed economic income in Treasury's words of 26 million dollars yet paid not a penny of income tax that year just as in two prior years. In fact, incredible as it may seem, his 1960 income tax return actually reported (after the deduction), a loss of $846,330.00, much of which could be helpfully used to shield future-year Income from taxation. Another operator indicated as "Mr. B" had total net income for the years 1958 through 1960 of $9,419,000.00, but paid no Income taxes in any of these years. Still another affluent gentleman enjoyed 5 million dollars of Income in one year without paying any taxes on it, including a full million of non- oil income. Government officials tell of one oil and gas operator who had sold 50 million dollars worth of oil in the last twelve years, whose income in the years 19581960 was in excess of 5 million and who has not paid any income tax since 1949. "Company W", an actual oil firm listed in another Treasury Department study made profits of $65,700,000.00 in a six year period yet not only did the firm pay no income taxes net, it actually got a $425,000.00 refund of previously paid taxes. The above are merely representative samples of a widespread practice of "avoidance" of tax by very wealthy people. Those many legal loopholes are now so numerous as to almost completely cancel the progressive tax rate. One might well ask the question at this point, "What do these men do with all tl">se billions untaxed net Income that Uncle Sam does not get 7" Some is undoubtedly stashed away some place, some is invested in property of some kind and some of it is loaned back to Uncle Sam to swell his debt. Then as if adding insult to injury, many of these 'same tax "avoiders" berate Uncle Sam for his large debt and usually attributing the great debt to excessive expenditures for educational and welfare programs. No newspaper ever reports even in small type the billions of tax that is avoided and which is in detail set forth in Stern's book "The Great Treasury Raid." G. W. Patterson Burt, Iowa He Also Urges Writing On Bus Matter LETTER TO THE EDITOR: Here are some ideas you should include in your letter to your State Legislators regarding senate file 118. According to the United States Constitution, church and state shall be separate. Our late President, John F. Kennedy, had to put that in line again. He was a good president. As for the two systems, it's like I live 2 miles out of town and I don't like the public road in to town so some others don't like it either, so we buy another right of way and build our own road. We cannot expect the county or state or Federal government to help us, or maintain our road yet we have to pay taxes to keep up the public road and can use it any time we wish and it's a better road than the one we travel but we choose to travel our own so if s up to us to maintain our own road. How much better it would be for all if we used the old road. I am quite sure all children are as welcome to attend the public school. D. D. Sparks Rt. 1 — Algona, Iowa Inquires About Teacher Petition To Legislature Feb. 15, 1967 Dear Mr. Editor: There have been various rumors going around and one is that a petition was signed by the Algona public school teachers and sent to the legislature to influence them to vote against any bill giving funds to private or parochial schools. I would like to know If this is true and who signed it, or If It isn't true. I think the Algona public school teachers should know about this and should be given an opportunity to publicly defend themselves and clear up all this gossip. I think we ought to hear their viewpoint. Yours truly, Ronald Hansen Algona, Iowa Thanks Given For Coverage Of Bond Election Algona Upper Des Moines Algona, Iowa At its meeting on February 6th in connection with the canvass of the results of the January 30th school bond election, the Board of Education of the Algona Community School District directed me to extend to you a special word of appreciation for the coverage of your newspaper on this subject. The Board has directed that news media be fully informed in the coming months as to any of the next steps taken to carry out the building program as authorized by the election. If at any time there Is any particular area of this project upon which you wish more specific information, please inform us. Otto B. Laing Superintendent Algona Community School jjjpninwniiiM {PORTLAND' 1 By Mrs. Victor Fitch 4-Algona (la.) Upp«f DM MotaM Tuesday, Feb. 21, 1967 TWINS twins were born In the blizzard Twins, Anna Smith and Jenny O f 1879 on the family farm near Shriher of Hawarden, were Tiraer. They have both been honored recently at a party cele- very active in the Hawarden com- brating their 88th birthday. The munlty. We put *«m together Now you don't have to wait for twisted note* tad rjimftd growth to do something about atrophic rhinitis. At least half tiU hog herds have one or more organisms which cause atrophic rhinitis. Ami £• meet common is the bordetefla organism. There's a new drug in CO-OP Hg Feeds which cuts tibcrtxxjanence of bfcrdetella. Sulfamethazine] Its now available In combination with Tylan for increased weight gams and better feed utilization to the presence of atrophic rhinitis. This drug combination also prevents dysentery. We can't promise that it will eliminate crooked nose* in your herd completely. But you can expect to see <henv less often. Plui maintain weight gains and feed efficiency in the presence of rbJnitus. Look into the double-duty combination of Tylan and sulfamethazfae soon. Give us a call. Mr. and Mrs. Herman Harms Titonka were Sunday evening visitors in the Johnny Harms home. Mr. and Mrs. Everett Hanna of Lone Rock were guests in the S. R. Parsons home Sunday. Russell Parsons and Randall were callers at the S. R. Parsons home Sunday. Mr. and Mrs. P. W. Mar.lows and Mr. and Mrs. Dennis Meister attended a card party in the home of Mr. and Mrs. Eric Seegebarth at Lone Rock. Other guests were Mr. and Mrs. Ric-, hard Bristow and family, Mr. and Mrs. Jim Brown and Shawn, Mr. and Mrs. Larry Day, Mr. and Mrs. Wayne Eckels and Mr. ' and Mrs. Bob Marlow of Lone Rock. Mr. and Mrs. Bernard Meister returned home last Tuesday after being gone 4 or 5 days. They went to Rochester, Minn., where they visited relatives and friends. They visited Mrs. Meister's cousin and family, the John Daschles in Rochester, and the George Donovans. Mr. and Mrs. Robert Steven of Algona and Mr. and Mrs. Gene Hiding, Calvin and Eu- Linda of Britt were Sunday visitors In the Jay Steven home. Mr. and Mrs. Dennis Meister and Brett were Sunday dinner guests in the Bernard Meister home. Mrs. Jesse Harms, Mrs. Robert Lovstad and Mrs. Elizabeth Kennedy attended the World Day of Prayer at the Methodist church Burt, Friday. Mr, and Mrs. Edmund Larson were Saturday callers in the home of Mrs. Elizabeth Kennedy and Paul Tienan. Mr. and Mrs. Hugh Williams were Sunday callers. "Thinking Is like loving and dying. Each one of us must do It for himself'. Name of Feed KgPre-SUrter Complete (CE) Kg Starter CunpleU (GE) Hf Grower-It CoMpWe(CE) HcGmrer-14 ~ ' > (05) Feed per Age/WfctoFeed Animal 04 weeks S Ibl, (8-1511*.) How to Feed Complete feed for etrly- weaned pigt, or tupplement fbrplgioniow. 5-7 week* (18-30 Ibf.) 8-10 weeks or 8-12 (30 to 80-78 DM.) £8 Ibf, Complete feed. Feed free. choice to weaned or unweaned pig*. 100 It*. Complete feed. Feed free, choice; keep before pig* at all time*, 11-12 week* 60 Bw. (80-78 fti.) Complete feed. Feed Grower-16 or -14 according to preference. PIG FEEDS WITH TYLW ADD SULfAMETHAZDIE "Quality backed by .profit-minded rmtarch." STARTER FERTILIZER Whittemore Co-op Elevator HOBARfON BRANCH ***% CO-OP and ^Golden Sun Feed* For top performance CO-OP gasoline* fuel oil, oil* and hi TELE 29*4614

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