Northwest Arkansas Times from Fayetteville, Arkansas on September 27, 1974 · Page 20
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September 27, 1974

Northwest Arkansas Times from Fayetteville, Arkansas · Page 20

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Fayetteville, Arkansas
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Friday, September 27, 1974
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Page 20
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20 Northwest Arkansas TIMES, Friday, Sept. 27, 1974 FAYETTEVILLE, ARKANSAS Just Another Pretty Face He may look like something from prehistoric times, but it's only Nickerby, a friendly Jackson's chameleon f r o m Kenya. Nickerhy is the pet of David Lee, 10, of Santa Barbara, Calif. Nickerhy, a foot long, got loose recently and wandered about Santa Barbara streets, frightening a few people. Now he's b a c k home. (AP Wlrephoto) Conflici-OMnteresI Rules Admittedly Not Enforced WASHINGTON ( A P ) -- Federal Power Commission Chairman John N. Nassikas says conflict-of-interest rules have not been enforced on officials of the agency for at least the past four years. He acknowledged on Wednesday that at least 19 commission officials have technically violated the conflict-of-interest rules, but he said an investigation has found no real conflict affecting their regulatory activities. Nassikas testified before a special House subcommittee on investigations looking into a General Accounting Office report alleging serious problems in the commission. The report said that for years the commission has not adequately enforced its own rules against officials owning stock in companies affected by commission regulation. Even the officials responsible for reviewing financial statements of commission employes bailed to file their own statements. Nassikas accepted responsibility for the failure, but he said the regulations had been ignored even before he became chairman and before Claudius Fike became director ot personnel programs in 1971. However, he emphasized that neither the GAO nor the commission s fions so internal far have invcstiga- uncovered "any violations of ethical standards in private using gain, public office for giving preferen- Adviser Emphasizes Economic Recovery 111 Be Painful iial treatment to any organization or person, losing complete dependence or impartiality of action and affecting ad versely the confidence of the public in government integri-1 ty." The officials still under com __iission investigation w e r e identified only by job titles, including seven administrative law judges, among them the chief judge, Joseph Zwerdling. Big Tax Bill Takes Shape, Outcome Is Still In Doubt WASHINGTON (AP) -- If| this year's big tax bill survives' heavy cross-fire in Congress, many average Americans will get a tax cut while oilmen will see an old tax-saving friend, the depletion allowance, slowly die. But all sides in the tax bill battle agree that's an extremely big "if," because the legislation is in trouble. Friends are having a tough time finding and keeping a consensus, while some strange-bedfellow enemies may just gang up and kill it quickly. As the bill presently stands after many months of voting f\ the House Ways and Means Committee, but with many con troversial items subject to change before the panel's fina! decisions in the next fen weeks, chief provisions would: --Hike taxes for the oil in dustry, mainly by phasing oui the percentage depiction allow ance that has been a fixture ir tax law since the 1920s anc which saves petroleum produc ers $2 billion to S3 billion year in federal taxes. --Cut taxes for many Individ uals by increasing the max imuni standard deduction from $2,000 to $2,500; by boosting th minimum standard deduction that benefits low-income per sons from $1,300 to $1,400 fo singles and $1,500 for couples and by creating a new "sim plification" deduction of up t $650 for people who itemize. --Benefit some upper-bracke taxpayers through a chang that would extend to som unearned income, such as div: dends and rents, the maxpmuir 50 per cent tax rate that no\ applies to earned income sue as salaries. Some unearned ir come may now be taxed at u to 70 per cent. --Curt tax shelters, especia ly in the real estate field wher these are extensively used b investors. --Create a new minimum la on the rich, which would he a alternate lax to be paid only the liability is larger than th wealthy person's regular taxe due. --Ease taxes on capit; gains, meaning profits froi sales of assets such as seci rities or real estate held a cei tain length of lime. Over-all, staff experts said will be next week before fin. estimates on the revenue gain and losses for the Treasury ar ready for presentation to th committee. But they gues there would be a net $400 mi lion gain for the governmen when the bill's features take el feet. Committee Chairman Wilbu D, Mills, D-Ark., is pushing t et a bill passed by the House efore the planned mid-October ss for the November elec ons. But the committee i: eeply split over the major tea ures such as the proposed oosl in oil industry taxes. Still pending are moves to re onsider such things as the nev minimum tax on the wealthy nd a suggestion that a way b rovided so that no federa axes would have to be paid b; head of a household earnini ,p to $3,200, or by others on cale ranging to a marriei ouple with four children am annual earnings of $6,500. Thornton Draws Wrile-ln Competition PINE BLUFF, Ark. (AP) -Rep. Ray Thornton, D-Ark., ha drawn political opposition the form of a write-in Candida who wanted to run for the Se ate but found out she wasn't o enough. Beverly Ann Perchan, 24, Pine Bluff said Thursday si had filed as a write-in cam date for the 4lh District seat. Miss Perchan said she deve oped a distaste for politicians' behavior after observing the Senate in debate at Washington recently. Miss Perchan, a commercial artist who is employed as an illustrator for a discount store chain, said she would not campaign against Thornton. "I understand he's doing a ood job," she said. "It's just lat I want to serve, and this ffice is the one open in my .ome district." Miss Perchan said she de- ided Tuesday to seek the posi- ion after returning home from a week's visit to Washington. "I went to the Senate chambers t o - s e e how it operated" she said. "That day, there was no president pro tern and the ;avel was being passed around .0 various senators who at- .empted to preside. The senators were misbehaving and showing no respect for the man with the gavel, and it looked like a lot of disrespect for the system to me." "On my trip home, Congress- m a n J o h n Paul Hammerschmidt (of Harrison) was on the plane," she said. "When we landed. 1 asked him about running (for the Senate), and he said I had to be 30 years old. Well, I decided later to run for the representative position since I met the age requirements." Miss Perchan said she would he 25 Oct. 11. "I don't know, I just got to thinking after I watched those senators that I could take over better than that," she said. Hy JOHN CUNN1KF NEW YORK ( A P ) - Wall ·eel brokers, said Alati ·cciispan, have probably suf- ·cd moru from inflation on a rccntagc basis than anyone se. lie said that to union leads and others concerned with ·oblcms of the poor. Greenspan, the new chairman the President's Council ol conomic Advisers, is cither eking in political savvy or mply is doing what he feels list be done, that is, talk unlly. Any recovery from inflation going to be painful, he has aled time after time. Inflation annot be defeated quickly, ho ates flatly. And he scorn: lort-term solution, blaming iem for creating long-term roblems. He has suggested that in at ion is primarily a financia roblein, and some critics thinl might believe everything t o with inflation can somehov reduced to a mathematica qualion. This provokes the question .'hat role does leadership lay? Many economists believe hat part of the job of lickin; iflation is belief you can do il reenspan seldom, if ever, re ers to that route. His solutions are, in the opin on of many economists, bus lessmen and labor leader igliting to understand the prob ems, straight from the book .evoid of innovation and polit ·al appeal. Many of the proposals sug gested by legislators, ccon mists and others already ha\ What a deal! 4 mamaburgers and a . . . gallon of root beer all for 1 99 SPECIAL OFFETI STARTS THURS., SEPT. 26 ENDS MON., SEPT. 30 X 2309 North College with FAST curb service ecu discounted by Greenspan, Imost automatically, as If by cflex rather than reflection. The allocation of credit, for islance, would cause "dis- ortions," in Greenspan's view, 11 li o li g h some proponents laim it would help balance the islribnlion of funds, especially o housing. A proposal to encourage eople to spend less and save more by reducing the income ax bite on interest was re eived by him with little en Inisiasm. It won't change labils, he suggested. Greenspan's program vvoul login with cutting governmen .pending, an approach that per laps a majority of economist avor as a theoretically pur ·mite to the solution, but whicl politically minded legislator "car. How can you cut spending vilhout slicing a program dea to someone's constituency? You can't, and that in effect is whs Greenspan has been telling con jressmerf, that the anti-in 'lation battle must 'hurt. While Greenspan's fundarnen talist, long-term and unima jinative approach has appeal t :heoreticians, it is apparent! beginning to grate on th nerves of legislators. . Beautiful in theory, they say textbook economics doesn't a ways apply in a real world. Th world is made up of people, no numbers. Numbers might b inipulated, and people to but the latter are far less pr dictable. Nobody knows this" more · tha politicians. · . Moving Art Work Muralist Ricardo Atonzo sits atop the mural he painted on a trued trailer in Chicago recently. Alonzo was commissioned by the owner of a ship- ping company to paint murals of endangered species on · three of the firms trailers. Two of the trailers will he used for piggy-hack shipments to Los Angeles, San Francisco and Seattle. The third trailer, will be used in the Chicago area. (AP Wircpliolo) Newspapers Rap PFLP Move ization, the coalition of most of BEIRUT, Lebanon (AP) Arab newspapers in Beirut today criticized the radical Popular Front for the Liberation of Palestine' for formally breaking ties with the more moderate Palestinian leadership. The Popular Front announced on Thursday that it was quitting the executive council of the Palestine Liberation Organ- die guerrilla organizations. It claimed the leaders o f ' t h e ·um- brella group, headed by Yasir Arafat of Al Fatah, are cooperating with seeking a with Israel. The the Americans' in political settlemen Popular Front would continue the said i armed wo other radical groups, the Popular Front - General Com- nancl and . the Iraqi-backed Arab Liberation Front, might soon follow it out ot the coali- .ion group. The TIMES Is On Top of The News Seven Days a WeeVl struggle against Israel and that SearsJHEY KIDS! Guess Who's Coming To Sears! WINNIE THE POOH! Pooh will be at Sears tonite at 7:00 P.M. and all day Saturday DON'T MISS IT! FILL OUT THIS ENTRY BLANK AND BRING IT TO SEARS CHILDRENS DEPARTMENT TO REGISTER FOR A HAND CARVED WINNIE THE POOH Decorolive Ploques to be given oway Saturday at 5:30 p.m. Name. Address. Phone I Entry Blanks Also Available at SEARS | WINNIE'S SCHEDULE FRIDAY NIGHT 7:00 P.M. FRIDAY NIGHT 7:00 P.M. SATURDAY Winnie Will Make Hourly Appearances Starting At 10 A.M. thru 5:00 P.M. SHOP AT SEARS AND SAVE Satisfaction Guaranteed ar Your Money Sack Northwest Arkansas Plaza Highway 71 North Between Fayetteville and Springdale 521-6000 Phone

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