Garden City Telegram from Garden City, Kansas on November 28, 1977 · Page 15
Get access to this page with a Free Trial

Garden City Telegram from Garden City, Kansas · Page 15

Garden City, Kansas
Issue Date:
Monday, November 28, 1977
Page 15
Start Free Trial

Garden City Telegram Monday, November 28, 1977 Page 15 Washington Today By WALTER R. MEARS AP Special Correspondent WASHINGTON (AP) - Maybe the income tax system isn't such a disgrace after all. The crowds used to cheer when Jimmy Carter vowed a complete overhaul of the tax code. "It is a disgrace to the human race," he'd say, and they would cheer some more. But attacking the lax laws and rewriting them are vastly different undertakings. "All my life I have heard promises about tax reform, but it never quite happens," Carter said in accepting the Democratic presidential nomination, "with your help we are finally going to make it happen. And you can depend on it." But not now and not soon. The prospect now is that Carter will recommend that Congress enact tax reductions in the $15 billion to $20 billion dollar range in 1978, but that he won't propose any major overhaul until later. His package apparently will include some minor changes the administration can call a first installment on the promised reform effort. •• When he was campaigning, Carter said it would take him at least a year in office to put together a detailed, comprehensive lax reform plan. He said he wan't going to try lo do it one piece at a time because lhal way, inleresl groups could concenlrate their forces lo block aclion on Iheir favorile lax preferences. Through most of Ihe campaign season he avoided specifics, saying only lhal he wanted lo overhaul, simplify and reform Ihe whole 40,000-page lax code, and would do il in such a way as lo decrease laxes on Ihe average man. Selling his administration's agenda, Carter had said lhal he would come up with lax recommendations early Ihis fall. The draflsmen have been al work for months. Their proposals are expecled lo be ready for Carler sometime nexl week, and for Congress afler it reconvenes in mid-January. As the timetable slipped, Ihe proposals have become less ambilious, and Secrelary of Ihe Treasury W. Michael Blumenlhal now says Ihe legislation sent to the election- year Congress will be relatively simple. Campaigning, Carter was firm and specific on one feature of his tax plan: he always said he would seek to end the lax preference for capilal gains. He said all income should be treated alike, so thai profits on the sale of stock, real estale or other assels would be laxed al the same rate as olher income. All indications are thai Ihe presidenl will nol be recommending that change, at least not now. Under present law, there's a lax break for gains on the sale of assels held for al leasl nine monlhs. The period increases lo 12 monlhs effeclive Jan. 1. Fifly per cenl of such capilal gains are exempt from income laxes. Or Ihe taxpayer can elect to pay a lower-lhan-ordinary rale on Ihe full capital gain, an alternative which is to the advanlage of some people in high lax brackets. "I intend lo lake on myself, as a president's respon- sibilily, al one lime, a complete and comprehensive lax reform efforl," Carler said in a campaign inlerview. "... I would move lo Ireal all income Ihe same and remove Ihe sharp dislinction now drawn depending on where the income is derived." But Blumenlhal, in a Wall Street speech on Monday, virtually ruled out a proposal lo eliminate the capilal gains lax break. "We fully understand the important role that preferential lax rates for capilal gains have played in encouraging capilal formation — especially for venlure capilal and new businesses," he said. "We will, of course, lake this inlo account in designing reforms lo reduce or eliminate unjustified lax preferences." The changing outlook on Carler lax proposals slems from compeling priorilies — and polilical realilies. Congress is likely lo do a lol more lax culling lhan reforming in the 1978 election year, no mailer whal Ihe While House recommends. Al 7 percent, unemployment is slill a major problem for the administration, particularly as it enters a congressional campaign year. So, as he was a year ago in planning for a new administration, Carler is looking al measures lo stimulate Ihe economy, including a lax cul lo put more money inlo Ihe hands of business and consumers. The problem is compounded Ihis lime by Ihe fact that Social Securily and energy lax increases will work in Ihe opposite direction. So that campaign promise to overhaul Ihe whole tax code will have lo wail, probably until 1979. Alleged Soviet Accident Cited Would Stop Nuclear Plants Paper Handed Publishing Order ANCHORAGE, Alaska (AP) — A federal judge has ordered the Anchorage Daily Times to conlinue publishing Ihe Anchorage Daily News under Ihe firsl joinl publicalion agreemenl approved under Ihe Newspaper Preservalion Acl. The Times had announced ils intention to terminate Ihe agreemenl Nov. 30, con- lending a lawsuil against it by the News had made the pact unworkable. The Times also alleged the News had refused to pay $312,000 il owed the Times. Kalherine Fanning, edilor and publisher of Ihe News, — AVAILABLE NOW! — 1977 National Finals Rodeo Commemorative buckle and belt! Buckle $5,00 Tlii'si 1 handsome, hrass-plated all-metal Rodeo buckles will become real collector's items. Matching antiqued top-grain cowhide belts _ _ an- specially handcrafted by Tony Lama. 95 Feature (lec l> embossed floral design, har- * "^^ ness stitching and tapered end. 1H77 National "'"iii'i"I'Mn.i'i'mliT' Finals embossing matches buckle. Great Christmas glftsl Hurry in today. Offer expires February I, 197H, or when supplies are exhausted. First with a better way. GARDEN CITY FARM EQUIPMENT , £ s WEST HIGHWAY SO f* GARDEN CITY, KS. hailed Friday's decision to require conlinuation of the agreement, which she said would allow the state's only morning daily newspaper lo conlinue publishing. Roberl Alwood, edilor and publisher of Ihe Times, said, "I don'I know whal I can say excepl lhat the lawyers are studying Ihe documenl and figuring oul whal we do nexl." He added lhal "appeal is one of Ihe oplions lhal's open lo us." The News filed a lawsuil againsl the Times last spring, seeking $16.5 million and claiming mismanagement" of the agreemenl by the Times, which handles non-edilorial chores for bolh papers. While Ihe papers maintain separate editorial slaffs, Ihe Times handles circulation, advertising and publication. The News had said lhal il would be forced lo cease publicalion if Ihe Times terminated the agreement. U.S. District Judge James Fitzgerald, in issuing Ihe injunction, said il would lake effect upon Ihe posting of a $40,000 bond by the News. He also said Ihe News musl pay fulure bills due Ihe Times or challenge Ihem Ihrough Ihe arbitration procedure specified in the publication agreemenl. He said lhal if the News refused lo oav a bill approved by the arbitrator he would vacate his injunction. Mrs. Fanning said, "I'm just very grateful. Naturally I'm very happy. The whole slaff of Ihe News is very happy. Thai's really aboul all I can say." She added, "I feel lhal we can conlinue lo work wilh Ihe Times despile some of Ihe things that were said in the hearing. I'm aware they were trying lo make a legal poinl and I'm willing lo forgel about things thai were said in court and proceed to work together." Fitzgerald said in his decision lhal he agreed wilh the News' claim lhal allowing Ihe lerminalion of the agreement would cause "irreparable harm" to the News. He said the News could sue for damages, but even if the lerminalion proved to be wrongful it would be hard to re-establish Ihe paper. The Times also had soughl the lerminalion of Ihe agreement on the grounds lhal the News had failed to buy electronic editing equipmenl com- palible wilh Ihe Times' newsroom. The Times said Ihe $312,000 owed by Ihe News was Ihe difference belween Ihe cost of producing and distribuling Ihe paper and the money the News earns. The Times says il cur- renlly cosls $20,000 more a monlh lo pul Ihe News oul lhan Ihe paper makes. WASHINGTON (AP) - A Ralph Nader organizalion, citing newly obtained CIA documents on an alleged nuclear accident in the Soviel Union, says U.S. nuclear planl conslruclion should be slopped unlil safely can be sludied furlher. The Crilical Mass Energy Project has made public a series of documents dealing with Ihe incidenl, which occurred in Ihe soulhern Ural Mountains in 1958. The group said Ihe docu- menls lend new credence lo earlier unsubstantiated accounts of the incidenl, which reportedly killed scores of people and exposed thousands lo radiation. Roberl Pollock, Ihe projecl director, said Ihe documenls should "force Ihis nation to pause and reflect on decisions being made today lo accelerate Ihe expansion of nuclear power in Ihis country." He said Congress should impose a moratorium on nuclear planl conslruclion in the United Stales unlil sludy has determined that this counlry's nuclear power program is safe. A bill calling for such a moratorium is pending in Congress. The CIA released Ihe docu- menls as a resull of a suil Ihe group brought under the Freedom of Information Act. Pollock said it was "incredible thai the U.S. government decided to suppress information about accidents that related to nuclear power syslems in olher counlries for over 20 years". The CIA released only 14 of 29 documenls Ihe Nader group had soughl. The olher 15 and portions of Ihe released 14 were wilhheld for nalional securily reasons. Pollock said his organizalion will Iry to force the agency lo release the material still being kept secret. CIA officials declined to comment on the withholding of the documents, which date lo May 1958. In the documenls, CIA infor- mams painted a grim piciure of the apparent accident at Kyshtym, a rural town on the Asian side of the Ural Mountains not far the industrial center of Chelyabinsk. Apparently, however, none witnessed the incident firsthand. The documents say an apparent nuclear explosion killed scores of Kyshtym townspeople and turned a 60- square-mile area into a "vast nothing." The documenls did not make it clear whether the incident involved a nuclear power plant or a nuclear waste storage site. State Dinner Honors Graham MANILA, Philippines (AP) — Evangelist Billy Graham has finally been the guest of honor at a stale dinner. And it didn't come in Ihe United Slates. President Ferdinand Marcos of Ihe Philippines held Ihe dinner Thanksgiving night for Graham. A CIA document written last March about the Kyshtym incident said: "About 100 kilomelers from Sverdlovsk (aboul 100 miles north of Kyshtym), we crossed a slrange, uninhabiled and unfarmed area. Highway signs along Ihe way warned drivers nol lo stop for the nexl 20 lo 30 kilomelers because of radiation. "The land was emply. There were no villages, no towns, no people, no cultivated land; only the chimneys of destroyed houses remained." The Nader group said the Soviet Union had concentrated a number of nuclear reactors in Ihe region, adding that the CIA firsl learned of Ihe in- cidenl in a lelelype report received May 23, 1958. Getting settled made simple. New-town dilemmos fade after a WELCOME WAGON call. As your Hostess, it's my job to help you moke the most of your new neighborhood. Our shopping areas. Community opportunities. Special attractions. Lots of facts to save you time and money. Plus a basket of gifts for your family. I'll be listening for your coll. 275-5644 «fitt !«*«*« !«£«l«)e«)»!£«!»S«S«5^!«S«!^5«K^ "" Here Is A ^S^-l—"*"'""^. ~-3i."-r.—*-— ei'cM"*" i^ proM' 31 '^S^-n'^tlrtBrusn ^ They'll Enjoy Year Long! YOU ARE CORDIALLY INVITED TO VISIT OUR SHOWROOM TO SEE GARDEN CITY'S NEWEST & LARGEST DISPLAY OF EVERYTHING FROM OUTDOOR LIGHTING TO A FULL LINE OF CRYSTAL CHANDELIERS. FRIDAY, DEC. 2ND 9 to 5 P.M. SAT. DEC. 3RD 9 to 5 P.M. Make your Christmas shopping easier by sending the one gift that will be appreciated by the entire family all year long. The rate by mail in Southwest Kansas is '27.81 (includes tax) for one year. Six months is '14.94 (includes tax). Area towns where carrier service is available is '27 per year (includes tax). Rate in Garden City is '33 per year (includes tax) and '16.50 for six months (includes tax. The Telegram will send an attractive card to the recipient of your gift. Use the handy coupon below to facilitate ordering your gift. _ «^« B^ ^^ ^^ ^^ ^^ ^^ ^^ ^^ ^^ ^^ ^^ ^^ ^^ ^M ^M ^M ••§ l^B ••§•••••• •• •§• ••§• • •• ••§ ••§ •• MB ••§ ^•^••H i^H ^^ ^^ ^^ ^^^^ ^^ ^^ ^^ ^^ ^^ ^^ ^^^^ •_•«« — - Please send a gift subscription to The Garden City Telegram To: •SPECIAL OPEN HOUSE DISCOUNTS ON r _—. FIXTURES! •REFRESHMENTS SERVED! •FREE LIGHT BULBS (WITH COUPON) •DONTMISSIT! 10ft, BRING THIS COUPON IN FOR FREE PKG. OF TOO LIGHT BULBS COUPON GOOD DEC. 2ND AND 3RD ONLY I 8 For months Enclosed is $ I Given as a gift by f THE f CHANDELIER VTSHOP r 1 * 210 EVANS GARDEN CITY. KS. 2784891 Name Address City State Zip... (Card to be signed ) The Garden City Telegram P.O. Box 958 Garden City, Kansas 67846

What members have found on this page

Get access to

  • The largest online newspaper archive
  • 9,800+ newspapers from the 1700s–2000s
  • Millions of additional pages added every month

Try it free