Newspapers / The New Bern Mirror … / April 18, 1958, edition 1 / Page 5
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-rT'M Friday, April 18, 1958 THE NEW BERN MIRROR, NEW BERN, N. C. Page 5 economic highlights Will Tax Cut, Government Spending Bring on Inflation? Just a few months ago, when Rus sia launched Sputnik I, it seemed fanciful to talk seriously about early tax reduction in this coun try. Many then thought, as a matter of fact, that there was a real like lihood of tax increases right up to a war-time level. Sputnik II is still in orbit, cir- Health'Aids for the Whole Family Prescriptions? We fill them promptly, accurate ly. First aid and sick room sundries? We sup ply all family health needs. — FREE DELIVERY — BOGER-BALL DRUG STORE Dial ME 7-4654 cling the earth, and is now accom panied by the U. S. Army’s Explor er and the U. S. Navy’s Vanguard. Military spending is soaring. Yet, as Stewart Alsop writes (and most of the other well-informed commen tators are now saying much the same thing) “. . . a big tax cut can be written down as dead certain unless there is a Sudden and totally unexpected economic upturn.” Leaders of both the parties are now leaning that way, and each side, naturally enough, will try to exploit the greatest possible po litical advantage from whatever is done. “Within the Administration,” Mr. Alsop also writes, “there is no long er any resistance whatsoever to a big tax cut, if the economic slide continues. ’The only debate is on timing and size of the cut.” One Administration group which, it is believed is led by Vice-President Nixon, wants the cut to be no less than $5 billion, and would Hke more. It also wants to move quick ly. The President and the Secre tary of the Treasury, on the other hand, regal'd the $5 billion as a maximum figure, and are inclined to delay action until a clearer pic- R. E. BENGEL SHEET METAL WORKS Roofing of All Kinds Warm Air Heating 1311 N. Craven St. Phone ME 7-3404 A Great Number of People Entrust Us with Their Pre scriptions. May We Com pound Yours? - FREE DELIVERY - TONY'S DRUG STORE Pollock and Queen Sts. ME 7-4060 "If You Can't Stop, Don't Start" WALLACE HOLTON'S GARAGE Generator, Starter and Battery Service General Auto Repairing Automatic Transmission Service PHONE ME 7-2120 NEW BERN, N. C. ^yvwwwvwwvwvwvwyvwwwMvwwywwvMMfl«wvy«v>fl(yMflfl^^ Give YOUR desk the "EXECUTIVE” look How does your desk impress visitors? Give it the beauty your clients and friends admire. Choose your own combination of matched accessories from this list: DISK PAD PIN SET UniK THAT OPENER AND SHEARS IMOKING EQUIPMENT CALENDAR INDEX WORK DISTRIIUTtM TAPE DISPENSER CORRESPONDENCI rOlDER MEMO TRAY PICTURE ERAMI ROOK ENDS HOTTER PAPER WEIGHT WEATHER INDIUTOR STAPLER PENCIL i SHARPENER Phone ME 7-3135 303 Pollock Street New Bern, N. C. — OFFICE SUPPLIES & EQUIPMENT — THE BUSINESSMAN'S DEPARTMENT STORE ture of what the economy is going through emerges. Just what form or forms the tax cut will take when it comes is a highly controversial matter now. Many proposals are in "the wind. Some want to “forgive” all or part of withholding taxes for a period of time, on the ground that this would pump money into the chan nels of consumption in the short est period .of time. Some want to increase the individual exemptions from the present $600 to $700 or $800—a move which would give most of the benefit to bottom- bracket taxpayers. Some favor an across-the-board cut of, say, 10 per cent. This, naturally, would give more of the cash to the middle and upper bracket taxpayers. And there are other ideas, such as fixed tax credits for each member of the taxpayer’s family, and an increase in the optional standard deduction, which is now 10 per cent or, if de ductible items are listed, a maxi mum of $1,000. Either of these plans would primarily benefit low er-bracket taxpayers. If we have a tax cut along with greatly increased government spending, what is going to happen? One thing is sure—the govern ment will again engage in deficit financing on a huge and perhaps unprecedented scale. That deficit, as Mr. Alsop sees it, could even be of a size . . to make the eyes of the most daring New Deal pump- primer bug out”—that is, $10 bil lion or more. The actual size, of course, will in large part be de termined by government revenues which in turn depend upon indi vidual and business incomes. As of now, these revenues will be much below the earlier estimates. It is the hope of the advocates of big tax cuts that pump-priming will change that situation. Finally, one little word should be mentioned here—inflation. Will these pending government policies and actions set off a new and ma jor inflationary wave and cheapen the dollar some more? Millions of people have that question in mind today. Lend Helping Hand To Musical Group New Bern citizens can do worse than lend a helping hand financial ly to the Craven County Symphony Society. Thanks to its president, the Rev. Johri E. Murray, and other hard working members, the full North Carolina Symphony will perform Thursday night at the New Bern High school auditorium. Back in January, also thanks to the local Society, two free concerts were given here for school chil dren. Memberships made it all pos sible, and memberships are still to be had. City Attorney Lee Is Happy Man These Days Former City Attorney Wilson H. Lee is a happy man these days. An authority on birds, he knows that Spring brings an influx of feather ed friends to his premises. Lee can identify any bird that comes along, even at a great dis tance. He studies their habits, is familiar with their quirks, and goes out of his way to make them feel right at home. SUBSCRIBE TO THE MIRROR WOODROW MOORPS Supplying Indoor Comfort With Heating and Air Conditioning Now located 318 First St. Festival of Music Sunday Afternoon The St. Cecelia Music club is offering its Festival of Music to an appreciative public at Centenary Methodist church Sunday after noon. Long known for the quality of its projects, the club deserves the excellent attendance that can al ways be counted on. Miss Catherine Latta is director. For those who love music at Its best, the Festival is a must. G. R. Huffstetler, Jr. ' Advertising Specialties Tyson-Vann Billboards ■ MEIrose 7-3810. - J. W. SMITH AGENCY, INC. GENERAL INSURANCE HOTEL GOVERNOR TRYON Parking Facilities Available in Back of Hotel Office Phone ME 7-5500 Residence ME 7-2344 Roofing and Sheet Metal Contractors Continuous Service Since 1885 LENNOX COMFORT CRAFTSMEN THE S. Be PARKER CO. 215-217 Craven Street New Bern, N. C. Dial ME 7-3397 "NOT THE CHEAPEST, BUT THE FRESHEST" Yours At Nelson's Seafood & Poultry Market 110 Middle Street ME 7-4132 Paramount Presents ANNA MAGNANI ! ANTHONY QUINN ANTHONY FRANCIOSA CO'Stamng DOLORES HART-JOSEPH CALLEIA Directed by GEORGE CUKOR • Screen Story and Seteert Play by Arnold Schulmatl VISTil^iSlOH'^ . Wosig composed and conducted by Ourutn Tiornkn » MASONIC - Sun. thru Wed. DIAMOND RINGS Quaranteed for PermanenI Valuel Beit proof of diamond value we ca» give you—you can apply the FULL; current retail price (leas tax) of youf: Aricariitd diamond ring toward tho. purchaie of a larger one, at thouiaudo' of Artcarved jewelers throughout tho U.S.A. at stated in.4rlearved*a; twritlen guartnteo.j MIRriElD »T Eneogsment Ring .... $500,00 BrlUe't Circlet $225.00 •Trade ni.rH Price. Incl. F«l. T«, Rings enlarged to show dsUtl. Baxter's Jewelry Store, Inc. 323 POLLOCK STREET At the Big Clock on the Street Registered Jeweler American Gem Society 1891 — OUR 66TH YEAR — 1958
The New Bern Mirror (New Bern, N.C.)
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April 18, 1958, edition 1
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