The Courier News from Blytheville, Arkansas on January 8, 1953 · Page 8
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The Courier News from Blytheville, Arkansas · Page 8

Blytheville, Arkansas
Issue Date:
Thursday, January 8, 1953
Page 8
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S'l'HEV HXB .V COTJTIWR JfEWS THURSDAY, JAN. 8, IWt Congressmen Predict Excess Profits Tax Will Expire June 30 •7 CWARL1ES K. BARRETT WAMINGTOK (fl-Several vet- trans on th« House Ways and Means Committee foday predicted that "eKcess profits taxes, now yielding about 2>i billion dollars * year, will be allowed to expire June 30. But Hop. Eberharler (D ; Pa), a eponsor of the tax, forecast a fight by some Democrats to extend H, Th* tax, which can run the governments take up to 82 per cent of business profits, vvns imposed shortly after tho Korean t War started In mid-1050 to help pay for defense expansion nnrt diminish any war profiteering: The present law carries an automatio June 30 expiration dale. Congress can extend the comro verslal tnx as Is, rewrite it or simply let it die. Chsirmnn Reed (K-rJY) of the House Ways and Means Committee, where all tnx legislation musl start, already has called for natural death. He spoke aga what he called the laws throttling effect on business, nnd unfair nrbKary and discriminatory tax provisions. Others Favor Dcnth Two other veteran Republican! on the committee, Representative; Kean (NJ) and Simpson (Pa). sal( in separate Interviews today the share a view the tnx hurts rtUVie »,thon helps the economy—and wi] be dropped. Hep. Martin (R-Ia) said he \vn "very strong for' dropping it. Ttiey picked up support from •ojna Democrats. Rep. Mills (D- Ark),*a strong backer of the pros- nl law, told a reporter ho prob- bly will favor letting (t die be- :ausc of Inequities. Many ot the largest corporations icnelltlng from defense contracts ire escaping the tnx clue to special exemptions, while many smaller inns nre being penalized, Mills iroteslcd. nep. ningell (D-Mlchl said he 'avors tax relief for "tho little nan more than for business bu probably will go along with flit move lo let the excess profits tax die. Reed, Simpson and others agreed :hat Individual income tax payers should be- given some relief at the same time. Tax Explained The excess profits tax Is piled on top of regular corporate Income taxes like this: The normal tax takes 30 per cent of income up to $25,000; then It takes 22 per cent of all Income over $25,000— a total of S2 per cent: then an additional 30 per cent levy is Imposed on income determined to be excess profits. Actually, no one Knows Just how many corporations arc paying excess profits taxes. A revenue bir rcau breakdown won't be completed for several months, The best guess from concession al staff experts is that about 70,000 of roughly 350,000 tax-paying businesses are being tapped under the excess profits provision. Committee members generally agreed there are Inequities in try Ing to 'apply '(he present excess profits levy to all types of busl- WMU M««t< Members ot th« Bapllst Women 1 ! Missionary Union met »t the church Monday night for their monthly business meeting. Mr». J. B. Lovett, president, presided during tho business session. The meeting opened with the group singing the WMU song, "Christ for the Whole Wide World; followed by members repealing the watchword In tinlson. Mrs, D. B, Hledsoc offered prayer and Mrs. Jack Trammel gave the devotional. During the business Be&slon, departmental reports were given by Mrs. D. D. Cash, membership; Mrs Ed Williams, program; Mrs. Trammel, stewardship; Mrs. Harry Woodyard mission sludy; and Mrs. Isaac Alexander, community mission. Mrs. t.ovctt reminded the mem- ijcrs of the WMU Rally to be held In Osceolft tomorrow. She also announced [hat a mission study Institute will be held st New Providence Church. Jan. 15. Mrs. Ed Williams offered the closing prayer. Personals Mrs. Bardn Anderson. Dwlghl Anderson, the Rev. James Watkln.1 nnd Mr, and Mrs. Ed Williams and daughter, Jo Lee. wore the dinner gucsta of Mr. and Mrs. J. B. Lovett nnd their family Sunday. Mrs. M. B. pierce and son, Basil, have returned to their home In Little Rock after spending [he New Year's holiday wilh her son, Stanley Pierce, and family. Mr. nnd Mrs. Charley Coikran ot Mtpiphk ww« the week end guests ot Mri. Paullrw Corkran and Mr MM. Plerc* and family. Other «nd guwta were Mr. and Mrs. t. E. Tucker and ions of Liixora. Week «nd gueiU of Mr. »nti Mrt. Floyd B. Rtett it their suburban horn* w»r» Mr. and Mr». J. I. Plttnwn «nd Mr. ind Mrt. rred Smith of O*ceo!«, Ml»s Mora Pittman ot Memphis and Mrs. Love B, Adams of Blythevllle. Student! who have returned to school Include John Ellis, University of Tennessee, K'noxvllle; Marl anne Craln and Joanne Cullom, Vanderbllt university, Nashville; Charles Standcfer, University Arkansas, Fayettevlllc; Martha Traylor, Mississippi Southern, Hat- tlesburg; Jimmy Oarrctt. The Citadel, Charleston, S. .C; Carolyn Lynch, nine Mountain College, Blue Mountain, Miss.; Level! McAfee, Henderson State College. Arkadcl pbln: Edwin Webb and Mary Melo i dv. Lltllc Rock .Junior ColleRc; Jim nwr and Sara Elklns. Hendrlx col ego. Conwny; Jimmy Durham Frank Keel.' Helen Hnrndcn, nnd Billy Zock, Arkansas State College Jone.sboro: Nancy Craita, Miss Hutchlnson's, Memphis; EmlU Buchanan, All Saints, vicksburg, Miss. ^ . Mrs. H. P. Cash Jr., visited her aunt, Mrs. Minnie Bell Byford, at the Baptist Hospital In Memphis Monday afternoon and night. Mrs. Byford, who lives in Crawfordsvllte, F.utteied a fitroke at her home Monday morning. She is a former resi dent of Wilson, The condition of Connie Ann Cash, who has been ill for s days with an ear infection at the nesses, with widely varying operating conditions. But Eberhafter said these Inequities should be corrected. He snid an effort definitely will made to extend the l&w. be homt o< her trondparenU In W»»on, !• muoh unproved according x> h*r grandmother, Mrj. H. P. Caih, Jr. She U th« daughter of Mr. and Mrs. H. P, Onh, III. Judy McDanlel. daughter of Mr. and Mr«. Arnold McDtinlel, a!*o Is on the sick lint thU week. First Iron railroad bridge In the United States la said to have been built In 184J near Manayunk, Penna. Anti-Treaty Amendment Is Proposed WASHINGTON (f^-Sen. Brlcker fR-Ohio), Joined by 60 other senators, has proposed amending the Constitution to guard against trea- Ths amendment he offered by R«ad Courier Newi classified Ad*. U«* which might lnt«r(er« with V. S. domestic a! fa In. Bricleer uld yesterday In a Senate speech the amendment they offered would prevent any such Intervention by the United Nations. The senntor, Tho ha* Jought before for similar legislation, declared the U. N. wo» threatened by & "desire to Interfere In matters essentially within the domestic Jurisdiction of 118 members." resolution would specify *«4 M* trenty or treaty provision which denies or abridges any corutltuMonal right would oe invalid. The resolution via the first ptec« of legislation formally introduced In the Senate this year. Th« number of co-sponsors qulckty grew to a total nearly sufficient to M6ur« Senate approval SHOW »Y CHRYSLER CORPORATION Now Many Wear FALSE TEETH With More Comfort FASTEETH. R pleasnnc alkaline inon- acldl powder. Holds false teeth more firmly. Tn eat. and tnkx In mom comfort. Just fiprlnkta a llttlo FASTEETH on your platcft. No gummy, goofy. pnsly tasto or (ccHng. Checks "plate odor" (denture brentn) Get FASTEETH First Showing in Memphis... pace .etter f0 r». *«,. cars of tomorrow—The K-310 by Chrysler. This motor car blends the spirit of the sports car with an advanced interpretation of (he ideas that meet the traditional needs of the American car owner. Though modern Roman in mood, reflecting the exotic fashion of Ghia of Turin, Italy, who executed it-this dashing experimental -car was conceived and designed in Detroit by Chrysler Corporation engineers. It is one of more than 100 exhibits that will give you an exciting preview of the "New Worlds in Engineering" in the making for you at Chrysler Corporation. Come bring your family and friends to the "New Worlds in Engineering" Show by Chrysler Corporation. There's no admission charge! You're welcome any tim; from 11:00 A.M. to 11:00 P.M. daily except Mondays-January 10 thru 21. The Auditorium—West Hall, Memph's. Don't miss seeing automotive engineering wonders heretofore not revealed. TV Special Goodyear s Ne 95 REGULAR 329 Huge 21 TABLE MODEL Black Daylight Rectangular Screen Full yean warranty on all parts Buy now - Save $40,00 for a Limited Time Only ....... TELEVISION REDUCED! Mod.l 21T4 Tire Service Headquarters FYEAR GOOD f;

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