The Courier News from Blytheville, Arkansas on November 6, 1947 · Page 7
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The Courier News from Blytheville, Arkansas · Page 7

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Blytheville, Arkansas
Issue Date:
Thursday, November 6, 1947
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Page 7
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NOVKMBKK 6,-19.17 " orporalion Tax Reduction Seen Prospect Brightened By Proposed 'Free Enterprise Tax' Plan WASHINGTON, NOV. 5. IUP>_ House GOP Tax chieftain Hurolct Kmitson said ycsiorclay he looks (or *i>rw reduction In corutirnte tux rales at (he next regular session of Congress. The House Ways and Menus Committee chairman, who is pro.s.s- !HK for special session nction on a 54,000,000.000 ijcrconal income i-n reduction program. L;llcves pros- peels for corporate lax cuts were brightened by the !nng-rangc "tree enterprise Incentive" tax program proposed by the committee's s|»c- 1M tax advisory croup. The keystone of this prognim is the recommendation for equitable income tax cut.s for nil—individuals and corporations. "I feel pretty sure there will be some downard revisions in corporate rales." Knutson told newsmen. The 10-mnn advisory group, headed by former undersecretary of Treasury Ros\vell MaCilll, expressed the hope that most of it,s recommendations could be enacted in 1948. "Iu order thai we may maintain and preserve the civilization for which we have fought and poured out our wealth," its report said, "We should act promptly to put our fiscal house in the best .shape we can. Wo cili/cns must carry heavy lax burdens, but we can carry thcni. if we will use our good sense to adjust the loads as fairly and as justly as we know how," t.ans Range Bill The corporate lax changes would be included in n long-range revenue bill which Knutson .said he thought could be passed by the House by March 15. The Tax Advisory Committee's recommendation will be given serious consideration In the formulation ol the long-range program, Kniitson said. But he made It clear that his first ami immediate concern was to Kel tho House Republican Steerini; committee lo approve his plea for special session action on a "quickie" personal tax reduction bill. Knutson thought ihe steering Committee, might meet Nov. 13 or 14. but Speaker Joseph W. Martin. Jr., reached by telephone In New York, said the date for such a meeting was still undecided. Martin also declined to say whether he iovored consideration of any tax legislation at (he special session which convenes Nov. 17, Rep. Robert L. DouglUon, N. C.. milking Democrat on the House. Ways and Means Committee, said he did not think It was "advisable" lo bring up the "quickie" bill during the special session. "When the regular sesion comes along," he said, "we'll have a better idea on what we are going to have to spend for forciRn aid and to carry on necessary government ' operation." - • The tax advijory group Said that ennitnble income tax adjustments COUR1KU NEWS Ready for 600 MPH Combat Fastest operational aircraft of Ihe Air Force, the P-84 Tlumderjet, above, is "fuly qimlilied" for combal a! speeds above 600 mpii,' follov.'ing i*t-cnt service tests at Farmingdale, L. I. The plane's guns Ore azoiit 50 per cent faster than fighter plane arms used in World War II, making possible aerial combat at jet speeds. A new order for 515 million woith of P-84's brings to 550 the number of Tlnmdcrjets now scheduled for delivery. constituted the "No. 1 federal lax problem today." Its vejvoit said, i however, Hint first consideration 1 should be Riven lo easing Ihe burden on Individual income taxpayers. Sloans Incentive To dramatize (he effect of existing rafes. (lie committees pointed out that a maiTtect man with an income of 55,000 is now working '->r the government about one-seventh of his time; if he makes S25.000. the government Bets nearly one-third of his earnings. "With the present scale of tax rates," the report said, "we have put the brake on men's Incentive lo a dangerous tlegree by piling heavier and heavier burdens on them as they try to climb up the ladder." The committee recommended: 1. Retaining excise taxes witii inequities in certain levies eliminated. 2. Lowering corporate tax rates, piulicnlarly in the case of small corporations with net incomes ol »50,00fl or less. 3. Eliminating double taxation ol dividends, which now are taxed both as part of corporate net Income and as income In the lumdt of Individual recipients. 4. Abolishing the additional Income Ux that corporations must now pay on 15 per cent of that portion of income distributed In Medical Test Proved This Great to Relieve MONTHLY FEMALE PAINS Are you troubled by dlatre&s of fa- mule functional monthly dlsturl)- Hiiccs? Does tins mufce you surfer from pain, feel so neroous, weak, high-strung— «t such tltues? Then DO try Lydla E. Phikham'A Vegetable Compound to relieve such symptoms! In n recent medical t«t this proved mimrkfibly helpful to women troubled this \v,\y. Any drugstore. FOR SALE 80 Acres with Nice House within three miles of Blytheville. Good road, electricity, near fine school . . . Extra Good Land CALL FOR Cecil Earls at oble Gill Agency Phone Blytheville 3131 Osceola 93 (lie form of dtrlde'ndi to othfr corporation. 1 !, 6. Exempting !vom tcilenU c.stwir Inxes the estates of men and worn- pa who died In ncttve -service rtnr- IIIK World WHI- II. «. 1'ermlltUm . taxpuyers to puy IfdciT.l rsirtU luxes In liu>lnllmi>nl.s ovei a period at It) yi'nr.i wllli ln- l at 3 DPI- cent » ycnr IjrK two years nttcr tin- i!nl« of A rc.stnunml In l-orl Artlinr, 'IVx., Is oporntrd by Mr. Cook. NOTICK OK Notk-e la lifivliy rd of Bclmlnlstialloti were grant- | nrr.ient them to I. u. Holt, W»l PACK SEVEN to tin' u!nli'isiKnc<l "( Ix'wi.s T. .luc, Klvn Unit li' . . ., , llic aiili liny of MiUTh, 1U47, by Die Probate Court lor Hie Chlcku- Siiwbn Dlslilct, Mi.wissi|>iil CounlV, Arkiin.sii.s, All ixu'.sonx huvliiKVlalnis or ilrniHiKl.s uk;iiljiKt «ulil I'Mulc must . . , nut 8lr«;l, Blytheville. ArkuiMJi, duly .authenticated, within »lx months from the date of Hit flrit publication of this nolle* or they shall IK barred forever «nd pre- from »ny benefit* in »uch k it. HoK/ ' '' Admlnlainbtay of Uw «UU «f I Arthur . *. You've Got A Date ... So Don't Be Late AT GUARD'S You don t need rings on your fingers, or bells on your Joes. But you do need those 3 wonderful, cushiony invisible Rhythm Treads to make every slep a Rhythm Step) And you gel them only in RHYTHM STEPS ... more than |us> beautiful shoes. In Brown Calf ] FAMILY SHOE STORE and I have a date! Remember last Christmas you were up to your neck in last-minute gift shopping? You'll get so much more satisfaction, much better selection and better service by buying today. Make your gift reservations now . . . our stocks are at their peak and. present low prices afford you utmost value. GIFTS TODAY^S Liipel \\/atclics New Rliineitone 1 ^ Jewelry $595 Birlhslone King Dialiioiicl Solitaire Pure ivhll. dininonrt it mnclcrn mounlins of UK gold $ Ut»t fn •«r'rlnt», pint, br»c*UtV ( / *' Wide WeJJind B.tiJ, set In Ronine blnck ohyjc; mountings for men. Wtth cliamondi, and ,»yn- ruble*; crioic* »f rtuny n«w diiigni • i Choose from Eiuiovn, El^in, Gnitn, Rcnrus, Hatmllon, V/altliam wftlchsi for men or women -DIAMOND DUET Telecliron Cloclzi 3-Dinmond engnEcment ring in "* HK nalural gold, with n 5-dia- Botll for * moml wedding band in matching design. OPEN EVERY NIGHT TO 9 NO CHARGE FOR CREDIT Cigarette 6 Lighter GUARD'S JEWELRY STORE Le»ther FitteJ ^^^ Ca«eg Expansion Bracelet*

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