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Daily World from Opelousas, Louisiana • Page 3

Publication:
Daily Worldi
Location:
Opelousas, Louisiana
Issue Date:
Page:
3
Extracted Article Text (OCR)

1 Opelousas, Tuesday, January 1, 1985 DAILY WORLD 3-A S.S. tax erases income tax cut By JIM LUTHER AP Tax Writer WASHINGTON cial Security taxes and lower federal income taxes go into effect Tuesday but most workers will see only a few pennies' difference in their takehome pay. A married worker who has two children, earns $500 a week and claims average deductions could see a 20-cent-a-week reduction in taxes withheld from his paycheck, although the amount could vary depending on what formula his employer uses to calculate withholding. That worker will get a $2-a-week cut in income taxes but pay $1.80 more for Social I Security. A single person earning $700 weekly could take home about $2 more each week.

On the other hand, a $400- a-week single person could pay 80 cents more each week. The head of a six-member family at $500 would have $1.30 more withheld each week. Social Security taxes are rising to 7.05 percent of the first $39,600 earned, up from 6.7 percent of the first $37,800 earned in 1984. That means the maximum any covered worker will pay in 1985 will be $2,971.80, compared with $2,532.60 last year. Employers will match employees' shares.

Income taxes are dropping because a 1981 law that automatically adjusts the tax system for inflation Local Interest Stocks Yesterday's Opening, Closing High Low Close Change Oil Gas Texaco Transco 52 52 Texas Oil Gas Exxon 45 45 Tenneco 38 Sun Mobil 27 Entex 20 Texas Estrn. Chevron 31 Standard of Ohio 42 ne Trans. La. Gas Co. nc Oil Service Co.

Hughes Tool 13 Odeco 22 22 Zapata Corp. Haliburten Schlumberger 37 Utility Stocks Southern Co. GSU Middle S. Util. CLECO 22 ne Telephone American BellSouth 34 MCI Commu.

ne Computer-Hi Tch IBM 123 123 Apple Tandy 24 Coleco Warner Commu. Agricultural John Deere Allis Chambler Intl. Harvester 8 Roisten Purina 35 Hospital Stocks Hospital Corp. nc Humana 23 AMI Drug Stocks G. D.

Searle Eli. Lilly 66 Glaxo nc Retailers Wal Mart Eckerd Drug Sears Grocery Food Kroger 39 Winn-Dixie A 16 Auto Makers Chrysler 32 Ford nc G.M. 78 American Mtrs. 33 Chemicals Dow Publishers New York Times Metals Gold 309.00 Silver 6.29 Interest Rates Govt. Guar.

Bonds 11.00 Industrials 1211.57+7.4 Transportation 558.12 Utilities 149.51 vOl. 80,677,700 Stock quotes and rates supplied by Edward D. Jones and Company Pavy earns BA degree Manon Pavy, daughter of Mrs. Holley Pavy-DeBlois and the late Paul David Pavy III of 8654 Pontchartrain New Orleans, graduated from Sarah Lawrence College in Bronxville, N.Y., in a ceremony held on Friday, Dec. 21.

Miss Pavy earned the B.A. degree. She studied literature and creative writing while attending Sarah Lawrence and plans to pursue an M.A. degree in English Literature after graduation. Tax changes WASHINGTON (AP) Here are examples of how the paychecks of workers at various income levels will be changed under new levels of income tax and Social Security withholding that go into effect Jan.

1. The changes in withholding apply to any wages paid after Dec. 31, regardless of when they were earned. Taxes withheld each pay period will vary depending on the formula used by the employer; figures use the wage-bracket method." The second column in the table is the number of withholding allowances claimed by the worker. A minus figure in the final column indicates a net tax cut.

Single 84 85 84 85 Net Weekly Inc. Inc. SS SS Tax Wage Al. Tax Tax Tax Tax Hike $100 1, $6.90 $7.00 $6.90 $7.20 $0.40 $150 14.80 14.00 10.40 10.90 $200 22.40 22.00 13.70 14.50 0.40 $250 31.90 31.00 17.10 18.00 0.00 $300 37.70 37.00 20.40 21.50 0.40 $350 2 49.60 48.00 23.80 25.00 $400 71.70 71.00 27.10 28.60 0.80 $400 66.90 65.00 27.10 28.60 $400 62.10 60.00 27.10 28.60 $450 a 74.60 73.00 30.50 32.10 0.00 $500 2 89.30 87.00 33.80 35.60 $600 2 120.60 117.00 40.50 42.70 $700 2 155.50 151.00 47.20 49.70 $900 2 227.60 225.00 48.70 53.70 2.40 Married $100 2 $2.10 $2.00 $6.90 $7.20 $0.20 $200 2 14.40 14.00 13.70 14.50 0.40 $250 22.00 21.00 17.10 18.00 $300 27.30 26.00 20.40 21.50 $350 32.50 31.00 23.80 25.00 $400 55.90 55.00 27.10 28.60 0.60 $450 66.90 66.00 30.50 32.10 0.70 $450 58.40 57.00 30.50 32.10 0.20 $450 46.20 45.00 30.50 32.10 0.40 $500 4 61.00 59.00 33.80 35.60 $500 52.50 52.00 33.80 35.60 1.30 $600 105.90 103.00 40.50 42.70 $600 75.60 73.00 40.50 42.70 0.40 $700 112.40 109.00 47.20 49.70 $800 143.90 139.00 48.70 53.70 0.10 $1000 6 198.30 192.00 48.70 53.70 each year is going into effect for the higher tax brackets when they get first time. The aim of the law is to pay raises that compensate them for halt "bracket creep" the side-ef- rising prices.

fect of the progressive income-tax The income-tax reductions are structure that pushes workers into small because inflation was low Obituaries Mr. Paul A. Miller EUNICE Funeral services for Paul Allen Miller, 57, were held at 2 p.m. Monday in the chapel c. Ardoin's Funeral Home here wit a burial in Frey Cemetery.

Mr. Miller, an insurance salesman of Iota, died at 5:30 p.m. Saturday following a long illness. Survivors include his wife, the former Darlene Strange of Iota; a son, Jimmy Miller of Odessa, Texas; two stepsons, Michael James Mayfield of Eunice and Thomas M. Mayfield III of Condord, N.C.; a daughter, Mrs.

Perry (Pam) Broussard of Iota; two stepdaughters, Mrs. Bernie (Terrell) Daigle of Eunice and Mrs. Louis (Sherry) Honeycutt of Ocala, Texas; four brothers, Leroy, Floyd and James H. Miller, all of Iota, and Bennett Miller of Eunice; six grandchildren. He served as past master of Harmony Lodge 410 in Eunice, was a member of the Lake Charles Scottish Right Body and a member of Haiu Shrine Temple of Lake Charles.

Ardoin Funeral Home of Eunice was in charge of arrangements. Mr. Dorcenus Fruge BASILE Funeral services for Dorcenus "Nus" Fruge, 87, were From page I Seat in proportion to the rest of the body. In crashes, the kids become flying missles. 100 percent usage of safety seats or belts for children under age five would reduce deaths by 90 percent and injuries by 80 percent." By 1983, six states had enacted child passenger safety laws.

Consequently, deaths of children under the age of five from crashes decreased from 1982 till 1983 by 50 percent; and deaths from that age group in Louisisna increased by 24 percent during the same period, according to state police statistics. During 1983 in Louisnana, 21 children from birth to five years of age were killed and another 2,910 injured in 6,841 crashes. In 32.8 percent of the crashes involving children between the ages of birth to five, an injury or death occurred, statistics show. Child safety seats are available on loan from Doctor's Hospital and Opelousas General Hospital. According to a brochure published by the Opelousas-St.

Landry Chamber of Commerce, businesses which sell the seats locally are: WalMart, Bealls, Anthony's, J.B. Sandoz, Abdallas, Sears, Howard Brothers, and Montgomery Ward. The second state highway law which will go into effect this year will be the requirement of keeping certificates of liability insurance in NOW THROUGH JANUARY 12TH FREE BOTTLE OF K.M.S. SHAMPOO CONDITIONER WITH EVERY PERM! OUR PERMS ARE ONLY $40 Call Chelette Tammy or Peggy Daigle, Clay Kim Vour for an appointment Phone Best 948-1153 8 Cut Corner Leonard Union Streets 4.1 percent during the 12 months that ended last Sept. 30.

The automatic adjustments are known as indexing. Without it, a big chunk of a worker's cost-of-living raise would be swallowed by a higher rate of tax even though the worker's standard of living had not increased at all. In the absence of indexing, a worker whose pay rises 10 percent will see an average 16- percent increase in taxes. Some other changes taking effect at the start of the new year: -Social Security recipients will receive a 3.5 percent increase in benefit payments because of inflation. The Department of Health and Human Services says that would mean an increase from $434 to $449 in the average monthly benefit amount for an individual retired worker.

-There will be an increase from $356 to $400 in the deductible for Medicare hospital insurance payments, meaning no government payments for bills under level. Also, the monthly cost for the program's supplementary medical insurance will rise from $14.60 to $15.50. -Increases in Veterans Administration benefits will include a 3.2 percent rise in compensation checks for service -disabled veterans and their dependents, with new monthly benefits ranging from $1,295 for a veteran with 100 percent disability down to $66 for one with 10 percent disability. Lee Blanchard both of Eunice; two stepsons, Marshall Paddie and Joseph Watsons, both of Eunice; two daughters, Patsy and Ericka Blanchard, both of Eunice; a stepdaughter, Minnie Watsons of Eunice; two brothers, Randy Blanchard of Eunice and Gilbert Blanchard of Lake Charles: two sisters, Mrs. Robert (Delores) Daigle of Eunice and Mrs.

Herbert (Nora) Carrier of Avondale. Ardoin Funeral Home of Eunice was in charge of arrangements. Mrs. Laura B. Roy EUNICE Funeral services for Laura Bellard Roy, 73, were held at 2 p.m.

Monday in St. Thomas More Roman Catholic Church here with burial in Veillon Cemetery of Mamou. Mrs. Roy, a resident of Eunice, died at 11:15 a.m. Sunday in Moosa Memorial Hospital following a short illness.

Survivors include a daughter, Mrs. Louise 0'Pry of Eunice; three brothers, Louis Bellard of Mowata, Lawrence Bellard of Lake Arthur and Otave Bellard of Kinder; two sisters, Mrs. Frank Guy of Mowata and Mrs. Percy Brown of Eunice; a grandchild and one -grandchild. Ardoin Funeral Home of Eunice was in charge of arrangements.

Returning to income taxes, consider the married worker with a wife who doesn't work outside the home and two children, a 1984 wage of $500 a week and average tax deductions. If he is given a 4.1-percent pay raise in 1985 to offset 1984 inflation, his income tax bill will rise from $2,218 to $2,309 the same 4.1-percent increase as his wages. Without indexing, he would pay $2,359 in 1985 or 6.4 percent more than in 1984. But Social Security taxes are not indexed to offset inflation. So that $500-a-week worker's total federal tax bill will rise to $4,143 in 1985, compared with $3,893 in 1984.

A typical single person who earned $30,000 in 1984 paid $4,385 income tax and $2,010 for Social Security. A costof-living raise would boost her 1985 wages to $31,224 and her income taxes to $4,563. But without indexing, her income taxes would rise to $4,668. Her total federal taxes in 1985 will be $6,764, compared with $6,395 for 1984. Employers are allowed to use several methods to calculate how much income tax should be withheld from workers' paychecks.

By end of the year, the end result is the same, although one method may produce a slightly larger or smaller withholding than another. Oil price pressured downward NEW YORK (AP) OPEC's divisive year struggle to defend its $29-a-barrel reference price failed to convince oil markets that prices will not fall further, analysts said Monday. "I don't think you'll see a collapse of oil prices, but you're seeing an erosion. And there's been no indication that OPEC has been able to stem the erosion," said John Lichtblau, executive director of the Petroleum Industry Research Foundation, a private study group financed by the oil industry. Analysts said the next price cut could come from Britain or Norway, two independent producers that put off pricing decisions pending the outcome of OPEC's meeting, which ended Saturday.

The two North Sea oil producers also are in the midst of considering whether to tie their official prices even more closely to open-market levels. British National Oil Corp. on Monday denied an unattributed story in the Times of London that it had reached an agreement with the Organization of Petroleum Exporting Countries to hold its prices unchanged in January. held at 10 a.m. Sunday in St.

Augustine Roman Catholic Church here with burial in the church mausoleum. Mr. Fruge, a retired rice farmer of Basile, died at 5:30 p.m. Friday in Moosa Memorial Hospital following a long illness. He is survived by two sons, Francis Fruge of Basile and Freeman Fruge of Baltimore, a half brother, Dovic Fruge of Eunice; a half sister, Mrs.

Bertha Robbins of Eunice; five grandchildren and six great -grandchildren. Ardoin's Funeral Home of Basile was in charge of arrangements. Mr. Robert L. Blanchard EUNICE Funeral services for Robert L.

Blanchard, 39, were held at 2 p.m. Sunday in the chapel of Ardoin's Funeral Home here with burial in St. Edward Cemetery of Richard. Mr. Blanchard, an oilfield worker, died at 9:15 p.m.

Friday in a Lafayette Hospital following a long illness. Survivors include his wife, the former Juanita Paddie of Eunice; his mother, Mrs. Merza C. Smith of Eunice; three sons, Kurt Myers of New Iberia, Eric Blanchard and Robert motor vehicles. Rep.

Raymond "LaLa" Lalonde was the author of the liability insurance law. The law will require that motor vehicle operators keep copies of certificates of liability insurance in vehicles as proof of insurance coverage. Babies An official in the obstetrics ward at Moosa Memorial Hospital in Eunice said that hospital was likewise quiet, with no births imminent. "We don't have any OB patients right now," the official said. "We're waiting too." At Humana Hospital in Ville Platte, patient-less labor and delivery rooms are not especially unusual.

"We have no one admitted now, but then, we usually have no more than two or three patients a Similarly, the last baby born at Acadia-St. Landry Hospital was delivered Saturday, a nurse said. At Savoy Memorial, one baby was delivered early Monday, with no births since. "We have no one now." GROUP CRUISE ON BERMUDA STAR FROM NEW ORLEANS MARCH 8 16 RATES AS LOW AS $731.00 CALL CHERYL GILMORE 942-2111 CREATIVE TRAVEL SERVICE, INC. 127 W.

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