Independent from Long Beach, California on March 30, 1963 · Page 7
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Independent from Long Beach, California · Page 7

Long Beach, California
Issue Date:
Saturday, March 30, 1963
Page 7
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DREW PEARSON SAYS: o to write off exploration, de-[number~of similar leaks. --~ .^r^-r^i ···· - J"eMfcw*.';r'«ai* Just ~»boutNwVdepletk»'allowances WASHINGTON -- The fed- everything else.- · ·'·· * '· -' 't lhave been extended to almost era! tax-structure has been .ThusT drilling for on has every 'Industry that digs or punched so fun of bolej and become a Mieads I win, txHs'driOs. Dealers ia sand, gravel, patched with so r mary ?ro- you Ids*"- proposition. If aa'day--even "oysters and clam visoi that,,aa estimated $60 oilman strikes it rich, be shells^-take depletion dfduc- MTlt/vt* · wiTl * t**lr * »trav - ·Vti«rV* h «»' *l*m. ·:*»·-.' .tl"^_*-^« *L1 »· *'vJ» ·- *«._- · r » _ - · _·» hiHioa'yjfl:?ezk- away. this ketps' the §! y'ear.-^t,« v .'a :··'..·v-*--* -'-i\ profit If he i exceptions rules have be- only 43 The come percent of .the personal income In this country is now taxed.; If everyone paid, his full share, the average tax- lion's share "of the « hits a dry bole, Uncle Sam stands most of the toss.- LAWYERS and accountants for Superior Ofl, which made ... _ . . - - » $65,000,000 profit in. six capital-gams provision, which payer could knock off at least years, found, so many loop- leaves half ,the profits from one-third"frozn ccxt month's hsrf** tts»f »K*W «us* «\*ti» ·*_ *t,« ~*i^ ~.t tl*»«.. · ··«.** «« tax bill. "". sv''Anj-one who has fiUed out '^i',retunr.; knows how brain- jacking the ritual has become. _A£who!e. profession of attor- boles that they not only escaped taxes completely but also banked a $425,000 Treasury rebate in the same period. A s m a l l f i r m General American of Texas, made lions. -,;Yet". there' ' Is . danger that'the oceans will run out of dams or the beach es out of sand. '.". " . ' vilr ·.··'.,,·. . ' · · · ? ' .ANOTHER favorite escape hatrS for businessmen is' the the sale of business assets un taxed. On their gains, the; pay the t* T collector no mor than 25 percent-- one percen less for ' than the a single standard rat ynalrin WILLIAM G. ROLL · Served 7 Presidents ·", *-_i. _ ,; r'^ » s f, i c ; - ' . . '· Former U.S. . coMrrox--Rev.' H. M. arrington, *, pa t to r j fron rownwood. Tex, win lead weeUong "Annual Spring Fir« Southern Baptist Church, IC19 N. liar- is Avt, · beginning Sunday tad endir« April 7. · · Youth,of the church .wfll lay a large part in the cru sade,.with the Youth Choir singing each · evening.' Jerrj Wflkerson, music and ycnitl irector of the church, w2 e the song-leader.V f ·The public is invited to at end the services, which wil be held at 10 am. and 7:30 m_' ; daily. ; . wys and accountants has $9,000,000 in 1957, didn't pay $5,100 a year, no-am up around ' the taxla penny in taxes, and conect-| Another popular. way o snarl, specialists who know ed a $5,000 tax credit. Theavoiding taxes is through every deduction and discrimi- next year, : the firm made stock options. Instead of tak- nalion in the 458-page Federal $7,000,000 paid no taxes, "and ing" their full yjlarif^ cam- got a $23352 tax rebate. |pany. executives may be of-j .,,, _ , . The ledgers of most big oil Tered ; option to buy stock. 1 »* THE SEARCH for loopholes companies leU similar stories. They pick op" the options' *\* - . - _ , ' _ . · _ ' . · , * · · · * - . . ._. . _ *. * '. · ' .' . : ' _ . it developing a grab-bag men- Indeed, many 03 millionaires when the price goes up. This tiity in" America, not unlike pay lower taxes than odd- amounts to deferred compen- that found in certain foreign jobs men raiting $60 to $100 countries; where tax-evasion « week. has become a national sport and the "artful dodger is cyni- caHy admired. ·History" bears The oil industry protect] its tax privileges by investing heavily in politics and politi-itaxes by taking stock instead /-l in* "n-ir 1 *^ fiT^-mii-n^^J^tn-i-rtT^rif «··*!*·-»*· .breakdown in the tax system is the first step toward national decline. Of course, no government .can legislate morality, but bad laws breed bad morality: witness prphobition, which out that a cians. Three oflmen--George'of salary. sation, on which they pay the low capital-gains to Talk Here Wflliam G. Ron, who represented the U. S. govemmen under seven Presidents in the xnsular and diplomatic serv :ce, and' who was: once knighted by the King of Den mark.. will speak in Long Beach Sunday evening. Roll spent almost half o his life ia the diplomatic serv ice; under Presidents from Allen. BiHy Byars.'and the bte Alton Jones--paid all of ex-President Eisenhower's farm bill during his eight years in the White House. · · * · ANOTHER oilman. Bed- THE LOOPHOLES are le- U.S. SteeTi Roger Blough Woodrow WUson to Dwigh r e c e n t l y saved $300,000 i n - - - - - - - *~ Eisenhower. He is presently director of the Full Gospe Business Men's Fellowship In temationil, for which he has been instrumental ia estab- gion. Rich men can avoid.iishing chapters in Germany taxes by dividing their wealth' Switzerland and the Far Eas" among several trusts, investing in state and local bond*. llis carer has given him -- . - ^ ' . , i iiiai»iw ^.aAb-bk I*-^-T KAICTU ii"n - . j^ . · writing off property at rapid tremendous knowledge of th tpawned underworld empires ford Wycn, managed the re-depreciation rates, deducting political scene behind thelron that have yet to be wiped out.cent $1,000- a- plate dinner travel and entertainment ,, I gV-' w r C I C U C I U I l u "·="?" ( which raised $500.000 for expenses, setting up, Democrats. The Est of thosejtai-exerapt foundations frozn ed than names of our tors have-attempted to reform who attended is better guard- the tax laws and make them 1 more equible. But the reforms usually have been defeated by powerful interests, which they borrow operating capital. · , · i There is only one answer to HE WILL SPEAK at 7 pjn. at the First F o u r s q u a r Church, llth Street and Juni Eight-Day ·-v,:1 i.ti.^lr'./: 25th Year in Priesthood Is Observed " - · , · - · - COMPTaV--Father Joseph jyaud, pastor of St. Philip Neri Catholic Church. 12522 S. Stoneacre SL, wfil observe the 25th aEni\trsary of his ordination to the Friesthooc Monday. '- Ia an advance commemora lion of the occasion Fathe Eryaud was honored by Silver Jubilee Reception a Bateman Hall, in LynwpCK last Sunday evening by mor than 1.10J) of his parishion ers, relath~es and friends. secret agents in Russia. The oil-depletion allowance -------0 ----- ,,_ . . went on the books ia 1926. revision of the tax laws with-i** M mer Arganbnght, co- such tax twisting: a thorough.'!*TM Avenue. With_him wiH, 2,000 to Attend Christian Rally About 2,000 persons are ex pected in Long Beach Sunda to attend the Southern Ca f ornia Christian RaHy, at Firs 'Christian Church, Fifth Stree and Locust Avenue. which have contributed lav- Typically, the tax structure out fear or favor for any spe- J^f 1 ? '"^ ^ Tt ^ OT rf , *« :Iit.. 4« t^.*l. «AI;*;..*I'.»*,*;*·*; a . - - . _ i _ - t * - I - - · - _ * - ^ mil Crf«nri Himn«« MMI * · to both political parties'unmediately began to spring a'cial interest. and have lobbied outrageous lly on Capitol Kill. President Kennedy is ^crying reform again, and the ^Capitol marblework is crawl- l^feg with lobbyists who have [been hired to,protect every jtir privilege oa the books. * V Every-lax exemption has been justified. with earnest rarpnnenL'But to the tax col- _'lector, in' the language of ""Gertrude Stein, a loophole is a loophole, is a loophole. /·, : r . ' * . * * * PROBABLY the most glar- -Ing loophole is the col-deple- . tkxn allowance. This gives the oilman a 27^-percent tax rebate on the cost of every barrel of oil taken out of the if The hobVen he can to on ^taking the' 'deduction long Jafter he has recovered his ^investment. 1 ' . " - ' ' ' » . . " j ·» · The oil tycoons have wan j igled also other' special allow jances from Congress, "golden igTmTnTrlrt" which permit th PENSIONER'S gt BULLETIN · New StiJe l*w' prorvfcj" core *5as hearizue lids to pmsioceri r -- NO COST TO YOUI See cs; w r i t e or till NOW foe 'roin. HE 2-045?." Associate Ktinne "Aid Center,'"«22 Hne 'Are, Long Bach, Anthotize ..Distribotor of Motoroli/DJJ "' bcig Heiring Aids. - BLAST I1LAIR ·Dy Keilh Wellingliarri "uH Gospel Business Men's Fellowship International, who will also speak and show a color film of the Holy Lands. There will be no admission charge, and the public is wel- LOOK M BLAST/ WVO WOULD 6UEV TOT JUST A £HOer HIS FBDTOS THOUGHT OF HUA AS A '· .\NIWOUT COUXAS. OR PURPOSE .' AK5 NOW KK CHWJGSP ALL THAT, HUH? NOT AT AIL- JUSTCMANGtO Pageant to Depict Life of Missionary BELLFLOWER--An hour- ong pageant depicting the life of Dr. Lee Huizenga, for- beginning *» INOcPENOENT-f 19* A-7 --is-od»Td Frnt wlraatgta 'LAST SUPPER' IX WOOD Doinenic Zappia, of Kansas City, Kan., stands behind several of the life- size figures of "the Last Supper," which he has sculptured in. wood dux-t-: ing the past four years. The figure at right is Jesus, and the one at left's , Judas, holding a bag of silver. The "Supper" will go on display in KansaV * City next Friday, and Zappia said that to the best of his knowledge it'.tt".1 the first such three dimensional life-size sculpture of "The Last Supper^., First Unit Completed at New Costa i\lesa Church COSTA MESA--Dedititlon ceremonies will be held Sunday, at 3JO p m , for the first of three units of the Presbyterian Church of the Covenant, 2S50 Fairriew Road. The new unit, the Fellowship Hall, will be dedicated by Dr. Chester Buley, associate executive secretary of the!convention dedicated its new. Presbytery of Los Angeles. Also attending the rites will be modem headquarters at 816 Dr. Arthur T. Bailey, director of new church development,'c FiouwQa St *M/ rw FrA^A^^v vxr f~s** n r~~A*r~tr.~ **9 »v* tx.«*u.T**«, ^t\ , ·* l - ct ti a · 3 *-» Modern Raplijjj Hcadqiiarlcrk* 1 }]! l*A. .Dedicate*!' ; LO? A N G E L E S -Southern California and Dr. Frederick W. Crcpp. moderator of the Presbytery oft Los Angeles. The public is welcome. ' , · - · · · 1 pjn. ceremony. THE CONGREGATIOV, which was offitialry organized president of the in December 1960 with a membership of 192 persons. cow| numbers 373 members. The second unit planned is an educational building, with the sanctuary to be built last. mer China-missionary, be presented here n e x t P. "Brawn. American Baptist Convention, andrDr. Revival Meet Ends An eight-day revival at Thursday by 'the Women's First Southern Baptist Church. Missionary Union of South- 5640 Orange Ave, winds-up era California Christian Re- this weekend. Evangelist Kd- Choir Will Sing al L.B. Church The 1 Senior Choir of Im- Upcoming Concert gospel concert featuring the Han-esters. Couriers and annual meeting" at F i r s t retary of the Arkansas Bap-|Carson SL, win present Hem-\ Rebels Quartets, win be held Christian Reformed Church, list State Convention, will'rich Schutz" "Seven Words sermon"- Sunday in the W3- at Long Beach Municipal Ao- 17603 Ardmore Ave. It win lead services at 7:30 this even- From the Cross," next.Iow Street Church of God. formed Churches, at its semi- son F. TuH, brotherhood sec- maraiel Lutheran Church, 345 Richard Holland, secretary of the Education, and were the guest tbe event. execthe BoirJ_ of PubltcatkDn. speakers at , .'Farewell Sermojj' _ Chaplain Roger Sjfeacer, USN. win preach a "farewell- A * W^*%» f%t V U i ' i i ' t IT f\* C- - l ·* UI.LCAU JHTt V M*C ^ Mlb i «M4 kl^l t »C^E~1K I \JLil *JAC «v«ua» v ** v » fc l -^-. - -- · - -begin at 7:45 rxm, and the ing. and 11 a.m. and 730 p.m. Wednesday, at 7:30 p.m. The 1455 W. Willow.St, public is welcome. (Sunday,! public 7 is welcome. ,'pjn.- OVER 30 YEARS IN LONG F R I G I SPRING .LONG PORTLAND, Maine (UPI) The city fathers apparently have decided that spring really is here. Workmen removed the city Christmas tree Friday from the center of Monument Square. ^^OPEN TODAY this is a DEMON .. .'otherwise known as INCOME TAX $ tiii Mow tm »wln» m ta fe*. fct- ·r voav« tec* hwtnf rouf tu pntivm ··» H t It tLOCC. Most tm»rf Witt tm, r »« trj B*i« to dk. Xml tv tu Omo* tat Ttv-^lll H t R TODAY. . - ' ·· 1 10TH FEOEUL : J T » T E Marine Is Guilty in Shooting CAMP PENDLETON (UPI) A general court martial board Friday convicted a Marine of murdering hi$ best friend | while they stood sentry duty I snd sentenced him to IS years at hard labor and a dishonorable discharge. Pvt John K. JudkSns. 22, Pasadena, also was ordered to forfeit all pay and allow meet Judkins was' convicted of unpremeditated murder in the shooting of Pvt. Austin G. Kraps, 24, Menlo Park, on Dec. 10 outside the base motor pcoL He also was found guilty of drinking before standing guard and leaving his post without being properly relieved. JUDKINS TESTIFIED he fired his MM rifle in self-defense as Kraps threatened him with a loaded weapon. Testimony disclosed that Kraps and Judkins drank beer together before reporting for guard. Witnesses also testified 'that Kraps held three other sentries at bay with a loaded rifle several boors before the fatal shooting. WHY.:. Do More People Buy TKsIr App^snces From A-.l? Because We Have the Best Recognhed Service Depf. We Do Our Own Detyery. We Have *he Price. Violent Tunisia Storm TUNIS, T u n i s la (UPfh- Heavy winds and torrenUal rains, foHowing a violent sandstorm, were reported Friday to have destroyed 366 houses and killed 4,000 sheep ia the Gafsa area of Tunisia. L E UNDER COUNTER BUILT MODEL DISHWASHER Choice of Colon. 12 FaQ Place Settings ,-· . - -jq $ ASK AROUND, SHOP GROUND CUSTOM IMPERIAL Fabulous FLAIR $ NEW 100% FROST PROOF! eiLnrtteo: INSTALLED i, CASH or TERMS J WHILE ·'· FPI-ISI4X THEY LAST! ,,,1.V, colon. · Fii fldth m cabinets aol tount«» jti tWe* h plaw Eke regobr nnja. ; . · Uost lUmerons electric nr.js ever w2B tGde-op ' . fSgne sJ«s ova fcer» at LOTS OF FREE PARKING · Rotl-To-YoB ceeUsg top p«ls sarfac* cn3U out of OPEN MON.- EVES. TILL 9 t P.M.' ;: V HE 6-5234 ' S ^ starts, steps oven!

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