The Ottawa Journal from Ottawa,  on August 21, 1964 · Page 8
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The Ottawa Journal from Ottawa, · Page 8

Ottawa, Canada
Issue Date:
Friday, August 21, 1964
Page 8
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Page 8 article text (OCR)

j m m J a i a i f 'i X , : , Usoraaaace" financial optrdacU , ptataoa of the reform of excise . can now be actively con- The initial reduction, made ta both penonal and corporate tax tales and effective last Sprint, were intended to stimu hit the economy. They repre-seated tne calculated risk, that what was liven up in Ux from the lower rates I be returned in the higher yields from a more active The next round of tax reduc-y tioas wH be much less risky: It wfl be andertakeri because it cm be afforded. Tax reform is definitely on the agenda of the Canadian authorities, the report by the Royal Commission on Taxa-tioa should be rounding into its fiaa! form.' A start on the process of y Jehu May r Now They're Talking Of a Second Tax Cut JTbe $11-5 billion tax reduc-txm m the United SutM has beea so successful that another i i i m ttm BTWin unon ran reform, however, needn't wait upon its publication. Indeed, Mr. Gordon did say that he was keeping in touch with the com' missioners: at least some of their recommendations could be included In the next federal budget. How much tax reduction they'd provide, though, is another matter. y -PHASING SHIFTS . At best it would be limited. The sort of maior shifts in tax emphasis which would provide relief for one group of tax payers at the expense of another less direct and more indirect taxation, as an example would require two -or three budgets to complete. They would have to be phased to avoid both political and economic consequences of too abrupt changes in the pattern. And, too, they would have to be fitted into any plans there might be for general reductions. Another consideration the We only looked at the house for fun?- likfi ' tosfrmat. It wasIMeolionalWectric home, , beautifully designed for modern living with - planned lighting, electric heating, the works t " Then we discovered that it cost no more than U house we toer going to buy.5), , - ?' i- '.' . -hi. - i , ' ; - f. t : barbecues in the summer. J . ' r r t . Compared to other homes on the street, our place h even more modern and attractive f rom the outside, as well. Illumination at the front snakes it look really pretty in 4he evening- then the patio lighting at the back is nice for 4 effect of the latest tax-sharing arrangements with the prov inces. . In these circumstances, tax reform is more likely to be limited to removing the anoma lies in the tax structure rather than extended to Ux There is no question that a great deal of useful work towards streamlining the existing structure can be done without greatly disturbing the pattern of taxation. At the same' time, it would not unnecessarily complicate the introduction of general reductions in Ux rates, both cor porate and personal. Before Mr. Gordon can prop erly assess these considera tions, however, he has to put aside the arguments be em ployed to defend the omission of Ux reductions in his last budget In particular, he has to put aside his argument jhat budget deficits confer advan tages comparable to tax reduc tlons. All he was saying here was hat the Uxpayer benefited to the extent that the government went into the red rather than raise Uxes. A reduction in tax payments that were never made hardly compares with the money in pocket from a reduc tion in payments ' that made. . .His other argument, just as untenable, was that the tax burden on Canadians was com r THE OTTAWA JOURNAL FRIDAY, AUGUST 21, 1M4 parable to that oa Americans. even after the reduction in the latter, because the tax .rates were much the same. The fact is. ' of course, that the capacity of Americans to pay taxes is a Quarter to a third greater than Canadian in their correspondrogte higf ei i rates ot productivity. la this argument. the burden of taxation at sani-lar rates is a quarter to a third heavier oa Canadians, rather than the same weight. ARGUMENTS LESS THAN VALID Mr. 'Gordon, one suspects, knew these arguments -were less thaa , valid. He had to have, though, a politically ac ceptable offset to the pressure for, ux reduction generated la the American, example- No amount of argument will now preserve, him from having to take into account both the Ux reforms under active coo-sideratioa in the United States and the possibility there of an other tax reduction. If for no other reasons than these, he has to And ways of reducing taxes in his next budget. There are. though, other reasons. His fiscal position has been greatly improved and promises to keep on improving. He can afford to reduce taxes without risking a worsening of the deficit. Indeed, as Ameri can experience has shown, that risk was never, very serious to tsUrt with. Just what the American position is now is J, ! -7 "I 'm even having luck with my houseplants' now. It must be the electric neat The air is much cleaner and fresher and it doesn't get too -dry.' And . because electric heating creates no ; dust or dirt it's so much easier for me to do the housework. I hardly ever have to dust any more.) L difficult to establish. The Treas ury, significantly, has been able to cut back substantially upon Ms borrowing requi re-menu which should be all the proof that is wanted. Satchel Grab Nets Thief $30,000 MONTREAL (CP) - Police said 'Thursday a thief walked into an east end branch of the Royal Bank of Canada, snatched a briefcase conUining some S30.0M In c a s a and cheques from an accountant's hand then fled. The accountant, James Robertson of the Canadian Steel and Foundry Company, was standing in line talking with the bank manager when lheAcrook grabbed the satchel. He gave chase but lost the thief In a lane a few blocks from the scene. " Journal Want Ads, bring quick results. .'5 ,:. .';:. . Do FALSE TEETH Keck. Slide r Slip? if?- " hwmd seeaar u sua. Dm m sue, .up or net. us aouMara aroma. 'Well we moved in right away and it'a still like a dream. The kitchen and laundry are designed for all the electrical appliances well ever need, with lots of electrical outlets and heavy duty wiring. I can use so many more appliances at once without blowing a fuse.) 7 Court News Leo Prest, 25. of no fixed address, was remanded to Aug. 27 for plea In Ottawa Magis trate's Court Thursday when be appeared oa a charge of shopbreaking io connection with the theft of about (4.000 from the Embassy Restaurant last weekend. ', . ,y ' Marcel Roussy, 24. of 77V4 Garneau Street, Hull, win ap pear Friday on a charge of possessing $34 stolen in the break-in. Bail for Prest was set at $2,000, and for Roussy $500. DULUTH - The Great Uke have natural deep water except la the connecting waterways. joiinson KOTons Sialtt mni Strvic . LafcefleM Boats - Thome's Boats Sailing Dinghys and Fittings Gator Trailer - Boer Beats IJ to II It ' Laws-Roy Lswamowert Floater Chant Saws Cr.EEH VALLEY LU"ZER LTD. i " ' 1 1 1 ' 1 1 ' ' "'': ; - r -tt ' 1 H ...u m Mtiia M- - . , "I thopght I was dreamiiig I hen-I sa. the price -L of 6m dream ;'h6lttS.M.''-: -i - t ... ' - i , e ' . ' -- ; i " . - - (:. ; i , t - . . . - . -1 a ii....i i. . iiia- I" i .a 1 . ' ' - -. . : I 1 1 V I , I- ' ; ; " '- : i ' ; I 11' '' 1 : f v i. &7 N ''. ''- t - . : A : , . ' f 'I've always been a bug on safety but at our house I don't have to worry any more. Even the water heater is flamelesst (One of those -new super-fast electric models that cost so little to operate.) With the children around, I feel so much better with flameless appliances.) . , ,i .... t . " - 4 - : . Whatever hodae you plan to buy big ,( or small, look for the Medallion sign ' of all -electric living. It means there) are many live-betterelectrically ideas , ; built4n to guarantee your extra com J fort and convenience and to safe- guard your home, investment. : ' To get the complete story on Medallion , all-electrio living contact: ' . r .LIVE BETTER ELECTRICALLY v 71 jCffl ULdU "1 Pi AND ALL DAY TOf.lORROVj WHILE QUANTITIES LAST! ,lM;.y,lt) V .; 1 o J ; 0 FACTORY CLEARANCE ITEMS Urn Hostess Chain OemleeUM dull, VpboUtana tt n4 hack. Walnut trm. 12, 54'1 Wsl. Psssreiifs.. 9X3 Plsla Class Csor Klrror 18.E3 is. a". . S-tmu- ailrrar nukeuarito. i'.r j. ' 6, 4-CrwiYer Chssls Antique white tlnuei wtui krboitw tea. Br arawai suite. . 5, 4-DrSaTer Vl. Chests m 33X3 Cihhsn. P.s!r BrfiW63:r t wilyl SIM walnut. Earty Antarleaa Mori, lull ! twU. . 6-Pe. CIntes Room Crcs? Walnut erbertte ta Scn4( ttyl nUnsloa tabta, 4 hlrt. Cibhsrd Chssl of Drawers m 1.3X3 ; anlyl aolM tMlnut Barlr American ekMtt. . Ksspsler Ext. Table 4 78X3 40" aer xtwwhw to tbla, e-x-t-s-n-S-a lo as", walnut er aakoe"r' . '.- - .. .'i' ' '- " .-.-. Ciihard Console Table m v SS3 : - 40' a SS" Ubi. -! to 40- a S" ataa.,, v .. . , , Cibbard China Cabinet ar $159 : 1 ontrl Caudua Catual ScrWs. Oua front cnuia lop. ; f w CLEARANCE SCU3 R3CX MAPLE CHESSEHS . . . CHZSTS . . BEDS .;.:,TiVBUESiVV'KlAiaS :UYI"a EC3H SUITES fasaneaaiSBiaaas i 10 TO 50 SAVIIIGS C"-of-mi::3 CLEAnA::cE si::;.:d:;s iiide-a-beds 20 TO 50 SAVINGS ShcptSicre! ShcpLL.3Te!:S2Y8l C0L0:i!AL FUniifTUiiE 403 BANK ST. ot WAVERLIY OFEII TOrilGHT TIL 0 p.n; V

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