Globe-Gazette from Mason City, Iowa on December 28, 1964 · Page 18
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Globe-Gazette from Mason City, Iowa · Page 18

Mason City, Iowa
Issue Date:
Monday, December 28, 1964
Page 18
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1ft DM. Jt, mm 1M4 CI*U-G«z*tt«, M«M<I City, la. AI=T SAVE ON STAINLESS DURING OUR ... CHRISTMAS Cautious on taxes A minimum cut would be confined to elimination of the 10 per cent retail tax on furs, jewelry, cosmetics, handbags, luggage and similar Hems This would not have a great effect on buying habits. Special sates event! Outsanding stainless beauty at tremendous savings. This is heavy weight, beautifully finished solid stainless that never needs polishing. Get yours today I Those prices will not be continued after sale period ends January 30. • Trade Mark« of Onrldm I,Id. SETTING INCLUDES: 1—Dinner Fork 1—Salad Fork 1—Hollow Handle Knife I—Soup Spoon 2—Teaspoons Shotta* Advertise in the Mason City Globe-Gazette •y ADRIN COOPER WASHINGTON (AP) — A year ago the administration was trying hard to get Congress to pass a massive income tax cut. It succeeded. The reverse may be true in 1965. The administration may have to put on the brakes to prevent eager legislators from taking a huge whack out of the government's excise tax revenues which add up to $14.5 billion a year. Officials say they hope the promised excise reduction will be tailored to fit the needs of the economy and the budget. But some Congress members have demonstrated they would gladly make a sweeping cut in the unpopular, cost-boosting sales levies. Thtrt has b • t n torn* Informed speculation that the cuts will not exceed $2 billion. Secretary of the Treasury Douglas Dillon has mentioned possible figures as low as $500 million and as high as $4 billion, depending on how much stimulation the economy needs at the time. Other matters which will keep administration economists busy in 1065 include: • A higher budget, both on the spending and revenue sides, with expenditures approaching the $100-billion mark despite some economies in defense. The problem of keeping more dollars at home in order lo reduce further the deficit in international payments. The prospect of a budget deficit between $2 billion and $4 sillion in fiscal 19B6, following a $5.7 deficit for the current fiscal year ending next June 30. Consideration of a proposal :o eliminate or reduce the silver content of coins to relieve a world shortage of silver. • A possible reduction of $250 million or more in the taxes of argc corporations through administrative changes in depreciation rules. Consideration of income tax revision designed to ck>M loopholes. Treasury officials prefer a cautious approach to the vast array of excise taxes because at the possible effect on business. WhiJe enactment of a multibillion-dollar reduction would give the total economy a strong stim ulus, the expectation oil a cut could hurt the sale of some consumer products during the period of congressional hearings, debate, and legislation. However, if" consumers lett the tax would be eliminated on automobiles, television sets, and similar large items enough pur- of chases might be postponed to cause a slump in some industries. The saving CD a lower- priced automobile would be more than $250. Although President Johnson received requests totaling $108 billion for the 19(6 budget, it seems liicely that he will trim the total just below the $100 billion mark. Economy and •fflctoncy in government have been major talking points for Johnson, and administration officials are predicting sharp cuts in the agency requests. Spending in fiscal 1965 is expected to total 017.2 bfllioa compared to $87.9 billion the previous year. The antipoverty war and oth «r a«w program? will put added ^ai» on the new budget, but thii will be partly offset by sizable economies in the Defense Department. Revenues so far are closely in line with estimates in fiscal IMS. However, income tax ex pert* are not core how. well the new withholding rate matches the tax liabilities of taxpayers in the upper middle class brackets. Many taxpayers with incomes of $7,500 to $20,000 may find next spring's tax bill higher than they anticipated, or that the refund is Jess than expected. SURGERY SHORTENING 6'T GIRL — Ann Rowston, 19, fondles a doll in her hospital bed in Oswestry, Shropshire, England, where she is undergoing a series of tricky operations to reduce her height by six inches. Six-foot, seven-inch Ann, of Cheshire, England, already has had three successful operations for removal of bone from her legs. DON MISS THIS . FABULOUS GIGANTIC.. Green 7 North Federal GOOD SHOES * STYLE * QUALITY * ALL BRANDS-All Nationally Advertised • All Current Fall and Winter Shoes - All Priced At a "GREAT SAVINGS!" WOMEN'S SHOE MEN'S SHOES A little girl's toys tell a story Her playthings will turn into real things as •he grows up. Children of her own. All the electric helpers a woman needs to run her home. And as sure as little girls grow up, there will be new electric servants to keep her feeling young. And plenty of low-priced electricity, too, You as a customer arc a big part of the reason for all this. Your interest in new things keeps the electric companies working fulfill your wishes, while their mnny new ideas make electricity an ever-better bargain. That's business management at work-customer and company teaming up to raise America to new heights of prosperity, with plenty of opportunity for everyone in a healthy economy. All over America you can sec this progress. In more than 300 electric light and power companies, like this one, a vital part of our nation's growth is moving forward through investor ownership and business management. And every day, we are proving that this way of doing things serves you-and your future-best. • Red Cross • Natural Bridge • Paradise Kittens • Selby Arch Preserver • Cobbies • Cal if oriiia Cobblers • Socialelles • Carmelettes • Risque • Hush Puppies • Ainericos • Joyce -Hi-Hcel~ —Mid-Heel—Low-Heel * SPORT SHOES * FLATS Sizes 4 to 11 -ALL COLORS -ALL SALES FINAL Each Shoe Marked On Racks, So You • E. T. Wright Formerly to $28.99 NOW $18.99 to $20.99 • Nunn-Bush Formerly to $24.99 NOW ^$14.99 to $17.99 • Freeman Formerly to $18.99 NOW $7.99 to $12.99 Cal 3000 • CALUMET COLLEGIATES Formerly to $12.99 Now $5.99 to $7.99 MEN'S SIZES TO 14 Price and Size. In Your Size! PAIRS of Current _ _ _ Styles and Patterns All from OCR REGULAR STOCK ^_M^M^^__ Watch GORDON AND SHEILA MACRAE and the ICE FOLLIES, Sunday, Dec. 27, PRICED to CLEAR! All Shoes From Regular Stock! All Genuine Values!

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