Ironwood Daily Globe from Ironwood, Michigan on July 31, 1965 · Page 24
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Ironwood Daily Globe from Ironwood, Michigan · Page 24

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Ironwood, Michigan
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Saturday, July 31, 1965
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Page 24
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EIGHT IRONWOOD DAIIY GIOBE, IRONWOOD, MICHIGAN SATURDAY, JULY 31,1965. Romney, Committee to Work On Bipartisan Tax Program SHORT RIBS—By Frank O'Neal By DICK BARNES Associated Press Writer LANSING (AP)—Qov. George Romney and a legislative committee will try to agree within two or three weeks on a bipartisan tax program that would raise $200 million in extra state funds in the next two years. Four alternative tax plans were submitted to the committee Friday. Two more versions soon will be developed. Independent analysts will try to assess plans on the impact of taxpayers and the state's economy. Then Romney and the committee will meet at !Macklnac Island for two days in an attempt to agree on one of the plans. Even if the committee reaches agreement, the chances a plan would be approved by the legislature this fall are in doubt because of strong opposition from some Influential legislators to any new taxes before 1967. Romney said existing programs will carry the state into the red within two years and that tax action should be taken now, not in a time of crisis. He said the committee Friday •, came somewhat to grips with' P ames ' ^ million, the political implications of tax' T ~ o action. Romney said the "realization of a need for action lias grown steadily." Romney said either the Citizens Research Council of Detroit or any of several university tax experts would evaluate the alternatives in terms of taxpayer Impact and Michigan's competltve position with other 1 states. | The cigarette tax plan, used '' in all the alternatives, would be! a two-cent boost to nine cents! effective Jan. 1 coupled with an! additional one-penny increase July 1, 1987. Net revenue would be $66 million for the next two years. j Individual details of the other j plans raising the additional $1341 million or more: i PLAN ONE ! NEW REVENUE — Sales tax on limited services, $45 million; | change inheritance tax to estate •Ml YfctED MV DUNgEON AND DECIDED 1WAT IT *WKH 1H£ QUEEN YtoUU* KEEP HERN05EOUTOPMV8U9NESS. YOU'D BE NOT TO SHOP HIRE ON MONDAY! o tinmen MUSIC STORE "BIG DEAL" JOHNSON IS LOOSE! FIND THE WACKIEST DEALS EVER OFFERED MONDAY ONLY AT JOHNSON'S! VltVE (BONE^^tifr ! Don't Break the Doors Down! tax and adjust rates, $25 million; increase intangible tax rate from 3Vz per cent to 4 per cent and on banks and building- loan firms to 60 cents per $100 of deposits, $4.5 million; adjust tax schedule on insurance corn- Each of the plans includes a $66 million boost in cigarette taxes. Three include income LOST REVENUE—Double the $20 intangible tax exemption, $4 million. NET EFFECT — $151 million: tops revenue Increase, probably taxes and repeal of the sales tax j about $135 million because on food and one proposes a sales implementation delays, tax on some services. The two variants to be developed would of NET EFFECT—Plus $145 million. PLAN FOUR NEW REVENUE — 3Va pet- cent corporate income tax, $105 million; six per cent financial institutions tax, $14 million; increase inheritance tax, $10 million. LOST REVENUE — Same as Plan Three, plus reduce corporate franchise fee to 2 mills, $55 million; give local units use tax on hotels and motels, $4.5 million. NET EFFECT — Plus $139.3 million. PLAN TWO NEW REVENUE — Two per 1,— i — ..-— — IffJW I\,CJ VJttlN UJli — 1WI provide higher Income tax ex-' cen t personal Income tax, emptlons and cut out the sales tax relief. * * * $236 million; 3*4 per cent corporate profit tax, $105 million; 5'/ 2 per Ah * *^ 0 in- « «. - ™ cent financial institutions tax, About $146 million of the $200 $13.5 million; change inherit- million would be required townee tax to estate tax and in- continue existing Some $25 million programs. would be available for new programs in 1966-67 and another $29 million for more new programs in 196768, said Romney. Rep. George Montgomery, D- Detroit, House Taxation Committee chairman and an advocate of tax action, said there "is a growing feeling in the number of votes toward a bipartisan approach to tax reform. We should play the string out." But he and Romney agreed it was impossible accurately to forecast any over-all house or senate feeling until one program is agreed upon by Romney and the committee. crease rates, $25 million. LOST REVENUE — Repeal sales tax on food and drugs or give income tax credit for same, $100 million; repeal business activities tax, $104 million; repeal intangibles tax, $39 million. NET EFFECT — Plus $135.5 million. PLAN THREE NEW REVENUE—Three per cent personal income tax, $354 million; four per cent corporate income tax, $120 million; six per cent financial institution income tax, $14 million. LOST REVENUE — Same as Plan Two, plus $100 million in (property tax relief. Police Chief Theft Victim MANILA, Philippines (AP) _ Police Chief Mariano Glngono visiting Manila from the little town of Penarubia in northern Luzon, came to police headquarters this week to report a theft. He said pickpockets got hold of him as he was riding a bus and relieved him of his billfold, his police badge and warrants for two robbery suspects he was seeking. Station Has to Turn Its Customers Away SALT LAKE CITY, Utah (AP) — Employes at a service station in Salt Lake County had to turn customers away. "We're out of gas," the em- ployes said with a smile. Scout Leaders To Meet Here There will be a meeting for all scoutmasters, cubma s t e r s and den mothers in the Lake Superior Council of the Boy Scouts of America, Wan Da Bong District, Aug. 10 at the Wesley Methodist Church here, beginning at 7:30 p.m. This meeting is called a "roundtable," a monthly get together for all unit leaders of this scout district. At this meetl n g, unit leaders may obtain many program ideas, and discussions will be held to help with unit operational problems. To all leaders attending this roundtable, the council has prepared a special gift that can be used in den and pack meetings. The council will conduct a campaign this fall for the independent Boy Scout fund in each community of the district for the necessary operating funds. The district has also scheduled a fall camporee for the weekend of Oct. 1. This type of activity is intended for all the troops of the district to participate in, to help the troops offer a full camping program and for the fellowship of a district wide camping experience, j Call it midsummer madness or whatever you like, something has affected us—and all to your advantagel You'll be convinced after reading this ad that we have a few screws loose. A visit to our store on Monday will confirm it! You'll never believe it 'til you see it a III You'll be responsible for damage done In the rush for this wacky special. First one in gets itl ONLY ONE TV SET *ONE MONTH FREE SERVICE Your money CHEERFULLY refunded if you're not satisfied! FREE DELIVERY NO MERCHANDISE SOLD TO DEALERS, DISTRIBUTORS OR MANUFACTURERS! LOOKIT THEEZ KRAZY DISCOUNTS! New Refrigerators 10% to 20% Off! Electric Ranges 10% to 30% Off! Electric Dryers 10% Off! xz S 98 New Pianos 10% to 20% Off! Radios 10% Off! TRANSISTORS O QQ Not Junk. This buy one for only .. O.OO is all good stuff! TABLE MODELS 7 buy one lor only .. /. The mp">nolia is the official! state r- if both Louisi ana! and M' i. for Krazy Karnival Day-Monday, August 2 from 10 A.M. to 6 P.M TABLE LAMPS Sea These Wunnerful EXXTRA SPESHULS! AUTO TRAYS Odd CHAIRS In Plastic Covers for Kitchen for Desk for Dens 2 each ™ ^™ ™ ^mw mm Utility Tables (SMALL) CHISELERS WELCOME! FINANCE WITH JOHNSON, TOOI DEHUMIDIFIERS Prices so Doggoned Low, We Don't Dare to Mention Them. Better sneak in the back door and motion for one of the help to talk it over in the alley! TfflfO It IMIW II Don/ * trom P Ie the paying cus. tomers in fhe rush for thisl ONE ONLY RANGE 1 98 •jJrOne Month Free _ Snrvirn • So ... we're out of service g our skulls. What can *Free Delivery you lose? Money CHEERFULLY refunded if you're not satisfied! Save the Furniture .„*. Wav In ONIY ONE REFRIGERATOR Month Free Service *Free Delivery Money CHEERFULLY refunded if you'r* not satisfied 1 OFF USED TV'S-WASHERS-RANGES , THESE HAVE GOTTA GO1 WE HAVE TO MAKE THAT FIRST SALE A BIG ONE SO BE HERE EARLY AND BE NUMBER ONEI SUNBEAM & HOOVER APPLIANCES-20% OFF HAIR DRYERS NOW \ OFF! Hoover Vacuum Cleaners, elc. Selection Pictures 6 PC. LIVING ROOM GROUP Special $ ALL THESE PIECES: • 2-Pe. Suite • 2 End Tables PLATFORM ROCKERS 19 21 3-Piece DINETTE 19 21 • 1 Cocktail Table • 1 Pole Lamp METAL WARDROBE 199 $12 per Month 19 21 Rollaway Cot TWIN SIZE, FOAM MATTRESS 19 21 R t V I T T K I W S H N E H o P A T tf IC K C Use Our EASY PAYMENT PLAN to Buy Now 'Three Big Floors of Furniture & Carpeting" 212 South Suffolk IRONWOOD Ph. 932-1130 FREE DELIVERY WITHIN 150 MILES THEY LAUGHED WHEN WE SAT DOWN TO CUT PRICES! IF YOU SEW, YOU'LL SAVE. COME SEE! OFF on all SEWING MACHINES Sewing Supplies Prices Really Murdered! BUY A CONVENTIONAL WASHER for just SINGER ROUND BOBBINS (type 66) 5 ea SINGER LONG BOBBINS (limit 10) 1 ea SINGER NEEDLES 6° 15 Singer short bobbins, bobbin winder rings, elc. rcducedl AIL OTHER ATTACHMENTS (RUFFLERS, BINDERS, HEMMERS, BUTTONHOLERS, ETC.) REDUCED TO CLEAR FOR THIS EVENT! BUY A NEW TV SET for just $78 Special deals on all Television. Just slap on* of our salesmen on the back, remind him that it's Crazy Carnival Day and you'll get the TV buy of a lifetime! IN OUR RECORD DEPARTMENT! R «P«" One Special Lot of STEREO . and HI-FI ALBUMS Reg. 99c UKELELES 3 Special lot for kids at Yi price reg. 7.25 63 IN OUR JUNK PILEI BRAND NEW 45's 29c ea. 4 for 1.00 ENTIRE STOCK OF 45 s including n«w >4l< fay the Beatles, etc., only 77 Srorewld* Discount on All Other Hi Pi * Stereo ALBUMS 20% OFF! '"?•.!*• J f

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