Newspapers / The Chowan Herald (Edenton, … / April 10, 1958, edition 1 / Page 9
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The National Outlook Confusion On Taxes By RalFh Robey ■ In the near future, perhaps in a matter .of days, a decision will be made on (a) whether we 'are to have a tax bill out of this session of the Congress, and (b) if we are, what kind will it be. Recently there have been scores of tax reduction proposals. Among them are: 1. Increase per capita exemp tions from the present SBOO to S7OO. This is the AFL-CIO pro-’ posal and it has strong support in other quarters. It would cost about $3 billion and relieve be tween four and five million per sons from all income-tax liabili ty. Some 85 per cent of the tax savings involved would go *to those with taxable incomes of less than SIO,OOO. It also has beep proposed that the exemption be increased by (S2OO. That, of course, would be just about twice as expensive in terms of revenues and would erase twice as many persons from the tax-rolls. 2. Split the first bracket of tax able income, which is $2,000, and reduce the rate on the first SI,OOO from the present 20 per cent to 10 per cent. This would not fret anyone of tax liability but would cost about $7 billion. Ninety pei cent of this benefit would go to those with taxable incomes of less than SIO,OOO. 3. Reduce all income-tax rates by, say, 10 per cent. This would not free any present income-tax payers of tax liability. AVith a 10 per cent reduction the cost in revenues would be about $3.7 bil lion. If the reduction was high er the loss of revenue would be increased proportionally. 4. Reduce the withholding rate by some designated percentage for a specified period. One sug gestion is a fifty per cent reduc tion for six months. This would reduce revenues by about $7.2 billion and practically all the sav ing would be in the lower income brackets. 5. Reduce personal income tax es by 20 per cent until the end of next March. The estimated I cost of this proposal is $7.5 bil lion. It was suggested by the Committee for Economic Develop ment. Each of these five proposals, and there have been many others, have two things in common: first they are designed to provide an increase of purchasing power; second, they are limited to reduc tions in personal incptQe taxes. Each of these proposals, in oth er words, is based upor* the as sumption that what we' heed is more buying by the public, not more investment. Finally, each of these proposals is nothing but a tax reduction— the first three being presumably more or less permanent, the last two temporary. All such proposals stand in sharp contrast with anything in the way of basic tax rate reform. The outstanding measure in this regard is the Sadlak-Herlong billr recommending a five to nine year program which would provide a 25 per cent minimum reduction to every taxpayer, and reduce the maximum rate to 42 per cent for both individuals and corporations. The revenue loss would be about $3 billion for the first full year of operation. Tax savings, how Calvert ever, would be about equally distributed between those with less than SIO,OOO and those with more than SIO,OOO of taxable in come. Up to now the Administration has expressed no preference for any one of these proposals. In fact there are strong differences of opinion within the Administra tion as to whether there should be any tax legislation. Vice Presi dent Nixon is in favor of such legislation; Secretary of the Treasury Anderson still insists upon waiting until more data on the business trend is available. Which of these groups will win out in the end is an open ques tion. It will depend partly, per haps largely, upon what Mem bers of Congress hear when they are home for the Easter holidays. It is hoped the decision will be for tax rate reform. This would cost less in revenue losses than almost any of the other proposals. Further, since* it would be pre sumably permanent, it would have a far greater psychological effect upon taxpayers, consumers and investors than could be ob tained by any temporary abate ment or reduction of taxes. VFW Hot Line ! Post 9280 By J. NASH V r* Quite a new bunch of faces are seen about the Post Home on meeting nights now. Some are new members recently recruited, but there are several stringers that are familiar about town but strange to the meetings. The last meeting or two has been gratify ing attendance wise. Would like to see even more of our com rades out . . . W. W. (Bill) Perry was the offi cer chosen by the commander elect, Harold Langdale, to do the installation honors this past Thursday night. Bill has been commander of the post in past years and met the qualifications set forth by the National Head quarters of Veterans of Foreign Wars for installing officer. Saturday night was a real ban quet (ball) at the dance in the club. We had a fine crowd and everyone seemed to enjoy them selves. In view of the fact that the dances are closed to couples only, everyone has a good time • EASY TO BUILD POLE STRUOURES • NO ROT OR TERMITE DAMAGE • SAVE UP TO 50% Os COSTS j AJTHuRIZED KOPPu S DEALER L'denlon Feed & r g Livestock Company f | PHONE 3515 THE CHOWAN HERALD, EDENTON. NORTH CAROLINA, THURSDAY APRIL 10, 1958. \ • , and without the prospect of some one being obnoxious. If you have not been among the crowds to come out, get with a group and meet us out there. It’s the onl£ place where you can have your' own crowd and listen to live swing music by Randy Lee and his swing combo. The man selected as VFW man of the week for week ending! April sth, is Jim Basnight of Edenton. Jim has been in busi ness for the past 19 years and is presently owner-operator of Bas night Grocery on East Queen Street. Jim took time out from, business to serve 17 months over-' seas with the ninth Armored In fantry Division during World War 11. Jim is a charter member of the Edenton VFW Post and was Post commander during the time the present post home was con structed. ■ He has been twice Post commander and once district commander and has held an office in the Edenton Post every year since its charter. He has Jived in Edenton since an early age, having been born in Tyrrell County. He is married to the for mer Maxine Ashley of Chowan, County. The Basnights haVe a daughter, Delores, who is soon to been seventeen. Congratulations on being selected VFW Man of the Week, Jim Basnight! —o— The “VFW radio-dance party” is a success and is enjoyed every, Saturday afternoon at 3 o’clock by all age groups. As you know, everyone js welcome and can en joy the dance floor facilities from j two through six each Saturday afternoon. When the radio por-1 tion goes off the air, the juke box is turned on free of charge. Teens, I come on out for a dancing time.! Soft drinks and candies only are , sold during this period . . . Randy | Lee and the combo furnish the radio portion of the show music wise. Weekly Devotiona f j Column ! | _By JAMES MacKENZTE I August 5, 1957, the World Council of Churches meeting at Yale University, New Haven, Connecticut, concluded its state ment on atomic testings with an appeal to Christians throughout the world to “urge their govern ments to forego tests for a trial period, in the hope that other MR. FARMER: SEE I S FOR YOUR SEED PEANUT SHELLING ALL HAND PICKED READY-TOPLANT Chowan Storage Co. L. E. BUNCH, Mgr. W. Carteret St. Edenton, N. C. Telephone 2423 , • : ——■r* l l l 1 (governments) will do the same ... ” TJiis incredibly naive res olution was passed on the recom mendation of the Commission on International Affairs which has on it two communists, Josef Hromadka of Czechoslovakia, and Jajos Veto of Hungary. The I American “National Council of | Churches” is a member of the World Council. ; The following day the com munist Daily Worker of New ! York City spread the report across its front page, under a ban ner headline. This past week the Soviet Union has decided to i “forego tests for a trial period,” , in specific accord with the appeal of the World Council of Church es. Soviet Foreign Minister Gro myko’s statement of policy fol lows in a striking manner the ar guments and positions set forth by the World Council of Church es. The World Council speaks of “stubborn moral and political fac tors involved;” athetist Gromyko says, “It is a problem of great political and moral international importance.” The World Council calls cessation of testings a “first step,” and so does Gromyko. The World Council argued 1 “Hazards to health from nuclear experiments;” Gromyko insisted, “These tests are harmful in them selves in view of their harmful effect on human health.” The World Council said that mounting stock piles of atomic weapons “heighten the danger that atomic weapons will at some point ac tually be used;” Gromyko empha sized the “danger looming over mankind, the danger of a rocket, nuclear war.” I have seen no reaction to the Russian suspension of nuclear tests by the Americans in the World Council, but I suspect they are overjoyed in the delusion that the communists have decided to follow World Council of Churches political policy. Poor, simple, naive, gullible, trusting souls, they little realize it is the other way around. The truth is that communists have infiltrated the World Council of Churches (com munists like Hromadka, Veto, Bishop Albert Bereczky, Bishop Jan Chabada, Bishop Janos Pe ter, and I could go on for pages), and have influenced it to follow the communist party line in a surprising number of incidents. The devil has not joined the church, the church has joined the devil. The Americans in the World Council of Churches have SEM3SISISIM3ISI3I3ISISISEMH®3ISM3I3Iii unwittingly assisted atheist Rus sia in its greatest propaganda vic tory of the cold war. They should read the article in the current Readers’ Digest that documents Russia’s record of breaking promises and treaties. Better, they should read their Bi ble and discover what it has to say about the sinful nature of man. Perhaps then they would not be so quick to cooperate with atheists whose motto is, “The end justifies the means.” The material in this column is taken from a statement by Dr. Carl Mclntire of Collingswood, New Jersey, a leading American church leader, an anti-communist. Some of the material is taken verbatim from his statement. New Weed Control Method Described There’s something new in the way of controlling weeds and conserving moisture. However, it incorporates an old principle— mulching. Albert Banadyga, horticulture specialist for the N. C. Agricul tural Extension Service, says that many materials, including saw dust, straw, grass clippings and shredded newspapers, have been used with varying degrees of success, A new material— which seems to be quite effec tive —is polyethylene film. This black plastic, first tried at the Kentucky State Experiment Station, was tested on vegetable i plots grown last year at the U. S. Department of Agriculture’s Beltsville, Md„ Research Center. It controlled virtually all weeds except nutgrass, which has sharp pointed leave sable to pierce the film. In addition, stated Banadyga, the crops mulched with polyethy lene during the dry 1957 season grew faster and larger and yield ed more than similar plants goown without mulch. Banadyga reminded the home gardener that the soil should be fertilized and thoroughly worked fugUKfy Ij |9P - 1 >,W?I V «rnS£HfS |)V ', j JJ/fie/i J)islaiice ]s/\lways Jempting ! Take a new Cadillac—point its hood toward some distant destination —and watch what happens! We would be willing to wager that day's end would find you far closer to journey's end than you could ever have imagined! We say this because we know how wonderful the miles are when they pass beneath the wheels of a new Cadillac—and how tempting distance is when seen through the windshield of the “car of cars”. First of all, imagine how comfortable and rested you would be! The seat-cushions are soft and deep and perfectly contoured. The steering wheel is ideally positioned . . . and the car is wonderfully spacious. STANDARD OF THE WORLD FOR MORE THAN HALF A CENTURY VISIT YOUR LOCAL AUTHORIZED CADILLAC DEALER i ———— Come in and enroll in General Motors' “Aim to Live" Contest ——————— CHAS. H. JENKINS MOTOR CO.. INC. “A- , 105-409 E. QUEEN ST EDENTON, N. C. dealer License no. i ata . 1 into a friable condition before it is covered witH film and the plants set in place. If additional plant food is need ed later, fertilizer in solution can be poured into the opening around each plant, through holes punched in the film, or along the edges of the covered plant bed— where it will soak in as rain does when it falls on the film. As a means of saving labor in home gardening—as well as in creasing the yields—look into the possibility of using this newly de veloped film as an aid to vege table production. Doubtful Joe Oh, I guess your rich aunt will remember you. You made a big hit with her by go ing into mourning when her cat died. Jim—True, but listen; now the other relatives accuse me of poisoning the cat to get the op portunity. T WITH THIS 6AS YOU 1 CAN BET YOU'VE GOT HOT WATER THAT f*rrr/taue.iimvrw. I '—"“"I J. EDGAR HOOVER EXPOSES COMMUNISM IN U. S. Now you can read J. Edgar Hoover’s startling expose of the communist menace in America ... written by this country’s great est authority on the subject. “Masters of Deceit,” the book that reaped praises from everyone, starts as a great newspaper serial. Don’t miss it. Begin J. Edgar Hoover’s “Masters of Deceit” April 13th in the BALTIMORE SUNDAY AMERICAN Continues in BALTIMORE NEWS-POST On Sale At Your Local Newsdealer an £xha TeEepluwe == fM; GIVES YOU ‘PtUIOCtJ | M One of the great things about an extra * 'll flf l\ telephone in the house is that it lets l \ f 1 you make that really personal call without being overheard. Then, of V course, an additional telephone gives such wonderful step-saving /xaaa| ic Why not call our business office for full information on a low coit extra telephone. Do it today. T\ The Norfolk & Carolina , ) Telephone & Telegraph Co. Then consider how easy the car is to handle! It is incredibly agile and responsive—and wonderfully smooth and level of ride. In fact, if you have selected the extra-cost option of Cadillac's air suspension, you can scarcely detect the presence of the road. And think of your pride and contentment! The very knowledge that your motor car is so highly admired and so widely respected adds its own reward to each and every mile. You ought to try it soon. Your dealer will be happy* to explain the virtues of Fleetwood coachcrafting— and to give you the facts on every model, including the exclusive Eldorado Brougham. I—SECTION TW& PAGE THREE Nagging Backache * Sleepless Nights Naggingbackache,headache,ormuscular aches and pains may come on with over-ex ertion, emotional upsets or day today stress and strain. And folks whoeat anddrink un wisely sometimes .suffer mild bladder irri tation ... with that restless, uncomfortable feeling. If you are miserable and worn out because of these discomforts, Doan’s Pills often help by their pain relieving action, by their soothing effect to ease bladder irritation, and by their mild diuretic action through the kidneys—tending to increase the out put of the 15 miles of kidney tubes. So if nagging backache makes you feel 1 dragged-out. miserable . with restless, sleepless nights.. .don't wait... try Doan'a Pills...get the same happy relief millions ' have enjoyed for over 60 years. Get Doan’s Pills today! Doan’s Pills Ad No. 116—41 lines
The Chowan Herald (Edenton, N.C.)
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April 10, 1958, edition 1
9
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