Newspapers / The Waynesville Mountaineer (Waynesville, … / March 15, 1949, edition 1 / Page 12
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PAGE SIX (Second Section) THE WAYNESVILLE MOUNTAINEER TUESDAY, Ilk jUaie We etioe Is )'l!ti.;l hcvn (! io i ; 1 1 . i t nt The Mist National Bank , lo our fKs'onu-rs. For 17 years the r,h i iie at The Fiit National Hank has provide the best banking faeilities and "THE FRIENDLY BANK" scr ue jossihle. Sen ice which is dependable and friendly. Facilities which are modern and convenient. When you consider a banking 'connection always "Ask Those We Serve. THE First National Bank Member Federal Deposit Insurance Corporation Member Federal Reserve System ORGANIZED 1P02 Truman's Tax Program Pointing To $30 Billion That Would Be Revenue From Pay roll, Income Levies In Three Years 15 y i.vi.i: c. nil SON I'ldtcd I'rr StMT ( '..: i espondent WASHINGTON Tl 1 hi ;mi 1 I; P mi- .1 ,1 :i,K 111 I ' i ml 1 1 i .n il mall Truman's i llCillill Jilil.:' uillare and so usi oilier than u i 1 1 1 i't aii' It'V lurcn employer ;.!,, ct,i!;illy, Payroll and i.il i ; : i i mi ' taxes will be tn ai!-. Slid 000,000.000 an wniiMi three years if Mr. id age insurance ana rams come Iruc. The api'UiinaU' figure to lie collected It i i i i income and payroll sources on Hie basis of proposed and exist m;; legislation in the fis cal year l'X2 is $2B.659.000.000. '1 he :.uin hem;; collected from llio.e same Miuries this year is rt.ll 1 . l to .000.1100. The increase is in payroll l.res as distinguished from income taxes. Two Main Goals Willi mis aooilional revenue from payroll I axis. Mr. Truman wauls to do Ivo tilings: 1. Expand t lie govet nmenl '. old age insurance program lo cover 20.000,000 more per. ons and to imrcase the bene- : ft-.. '. Creale a new system of ovcrnmeti! Iieallli insurance. Appro-.niialely r.0,000,(M)0 wage mid .alary earner, and self-employed pi'i "lis v. on Id be subject to ipawell taxes if government insur ance covcrai'.e is rspaiioeu as ivir Health insurance benefits would begin in July, 1951 The Federal Security Adminis tration states that on that date the payi-oll tax to be imposed for health insurance would yield about $4,500,000,000 a year. That may not be enough, however, to pay the government's health insurance bill. The Federal Security Administra- I'edei al j PStimates that it would cost tern of levy- $6,000,000,000 to pay doctor bills, individual in-1 no'spi(al bills and similar expenses .11.-, is soaring each year ot approximately 85 per ii Hi. I.asis of ' t "t Qii nmnloved Dersons and their dependents. Deficit Would Result Thnt would create a deficit of $1,500,000,000 if health coverage were that broad. The Federal Sc- curity Administration plans lo ob tain that extra money Horn me , government's general revenue .. ol j which the largest source is corpor ation and individual income taxes.: The $21,140,000,000 payroll and ; individual income tax collections in the current fiscal year is broken i down this way: Father Goes To Work And Baby Goes Too MEMPHIS, Tenn (UP.) Mrs. L W. McMurtrey says she couldn t help starting the conversation with the bus rider next to her because he was carrying such a cute baby. The man carried an open cloth sack revealing diapers, bottles and other baby necessities. He was the father, M,rs. McMurtrey discov ered, taking his daughter to work with him because his wife also worked but had longer hours. "Tl)e baby sleeps in a basket and doesn't give me a bit of troub le," the father told her. Jambo Oyster Found DANVILLE. Ky. (UP) William M. Samuels, food manager of a local drug store, believes Jie has found a record-sized oyster. The oyster, among a batch bought for preparation in the store, measured about five inches long and fully covered a strip of three square soda crackers. little TAt ma Mrs Paul f '!,.! .... and 7. Film Finishing INGRAM'S STUDIO Masonic Temple Hldg. 24 HOUR SERVICE unloMing to- Individual income taxes Payroll taxes Total $1(1.330.000.000 2.610,080,000 $21,140,000,000 '.iiw.i "ted. Approxi . line croup would lie ill Ii in .ura nee payroll Say, "I Saw It In The Mountaineer Tinman ha match I lie liable for h (axe :. flu- ( paratively small sum of 9,:'II0. 000.000 i . imluded in the 1950 budget lo gel siarled on Hie health iii.inati'e in o:;i am in the fiscal year .i-::iiin.ii!'. next July 1. It would pa., for scltinK up a staff and m.-ikmi; oilier arrangements o put the plan in operation. The principal items of payroll tax revenue in this fiscal year are: old age insurance colled ions, $1,754,000,000; federal unemploy ment taxes, $229,000,000. and rail road retirement taxes, $616,000,000. The $28,659,000,000 figure for fiscal year 1932 is made up of these items: Individual income taxes (on basis current law) Payroll taxes (ex cept health insur ance! Health insurance $19,133,000,000 3.024.000.000 4.500,000,000 $20,659,000,000 9 t , - j sv' - sum' ?MtA tu:?' ' 4 - -mm Whi'a i.dec rti ovai'ab.'e o' 9xra coif. y$rb&r -'jktilr Drive a !) I n tr m The principal items of payroll tax revenue in 1932. assuming Mr. Truman gets the legislation for which he now has asked Congress, would be $2,420,000,000 for old aye insurance and disability on the basis of existing legislation and $1,700,000,000 to increase coverage and benefits In. that field. No 1052 Estimate Yet The $5,024,000,000 payroll tax figure for 1952 actually is the sum which Mr. Truman has asked Con gress to raise in payroll taxes in fiscal year 1950. No budget esti mate for 1952 lias yet been made. When it comes it is likely to be mo- rathan than less than was asked for two years earlier. The income tax figure used for 1952 is the sum actually budgeted to be obtained from individual in come tax payers in fiscal 1950. II will be larger in 1952 if Mr. Tru man's wishes are followed. In addi tion to the payroll tax increases outlined in the foregoing, the Pres ident has asked Congress to in crease general revenue taxes, by $4,000,000,000 a year. Some of that increase probably would fall on individual income tax payers if Congress voted all of it. But that is not likely. The payroll taxes listed here do not include the cost of welfare or home relief! spending for all the needy now pro- posed by the Prudent. A limiled j group of needy old persons, depen- dent children and the blind al ready arc being aided with federal1 funds under the existing home re-1 lief program. That will cost $843.- 000,000 in this fiscal year. and Feel the Difference ! You'd expsct to pay hundreds more for Ford's new "fee!" the way it fr; the way it rirfe Hie way It fH ewayl But that's what you get from Ford's Fingertip Steering; from Ford's new springing ("Hydra-Coil" in front, f "Para-Flex" in rear) and Ford s new 'tqua-Poue engines. Tes, drive a - f i- fo-y ,,, 49 Ford and FEEL the difference! iSmfKj yourfiiture $c"di Eyei'"p-,,3C ... Listtn to f Fn'd Thtr. Fnd F".i.! rBs NeUcrk. m your Mnpf for bmt mi ttiticn. . DAVIS Take ihiiaf LINES MOTOR SALES Waynesville, N. C. Drug Traffic Is Showing Gains WASHINGTON (AP) The U. S. Commissioner of Narcotics says that illegal traffic in the drug marihuana has increased, "particu larly among the young people.'' The commissioner. H. J. Ansling er, made this report in testimony on the Treasury Department's new appropriation bill. "We have been running into a lot of traffic among these jazz mu sicians, and I am not speaking about the good musicians, but the jazz type," .Anslinger said. In North Carolina, he said, an entire orchestra was arrested, and in Chicago and New Yorkv "some rather prominent jazz musicians" were arrested. Narcotic and Customs Bureau of ficials told the House Appropria tions Committee of large seizures of marijuana on the Mexican Bor der and of seizures of miscellan eous drugs at American seaports. They said: One of the largest seizures last year was eight pounds of pure heroin from a member of the crew of the British steamer Hong Kong, docked at San Francisco. Five customs agents posed as elec tricians and steam fitters for five days before making the arrest. Last June." nearly 10 pounds of pure heroin was seized from an Air France airliner arriving in New York from Marseilles. The value of a pound of pure heroin is estimated at $32,000 in the underworld trade. Queen wasps first lay the eggs of worker wasps and when they are old enough to provide food, lay I " ' nidi Pri TL 1 l Meeting Of Board of Equalizatio And Review The Haywood County Board Of Commissioners Is Sitting As A Board of Equaiizati And Review The Haywood County Board of Commissi ers will sit as a Board of Equalization and view beginning Monday, March 14th, at commissioner's office in the Court House in town of Waynesville, for the purpose of exaif ing and reviewing the tax list of each towns for trm mrmnt vpnr and shall hear any and taxpayers who own or control taxable props assessed for taxation in the county, m resl to the valuation of all property in the county correct any errors appearing on the abst and for transaction of any other business i may come before the board in compliance! the Machinery Act of 1937. This is the onlf S in which the commissioners have the aufo to change valuation of real estate. Complaints from the various townships be heard as follows: Tuesday, March 15 Fines Creek, Crabtree, Duff Townships. Townships. Thursday, March 17 Waynesville Town 4tk Friday, March 18-Beaverdam and Clyde I' ships. GEO. h SHOWN, JB Chairman Haywood County Boar Commissioners do! Phone 52 egg uf queen and males.
The Waynesville Mountaineer (Waynesville, N.C.)
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March 15, 1949, edition 1
12
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