Cedar Rapids Gazette, October 9, 1974 : Front Page

Publication: Cedar Rapids Gazette October 9, 1974

Cedar Rapids Gazette (Newspaper) - October 9, 1974, Cedar Rapids, Iowa Weather-’ Fair tonight with lows around 40. Partly cloudy and warmer Thursday with highs in upper 70s. mtifa CITY FINAL 15 CENTS VOLUME 92 - NUMBER 273 CEDAR RAPIDS, IOWA, WEDNESDAY, OCTOBER 9, 1974 ASSOCIATED PRESS, UPI, NEW YORK TIMES $200-MILLI0N IOWA SURPLUS Congress Going Along with Ford—Except on 5°/o Surtax WASHINGTON (AP) — Pres-!closed by the ways and means else has stated my position on ident Ford has challenged tax reform bill.”    lederal gasoline taxes,” Ford congress and the public to ac- He endorsed the bill, which said. “This time FII do it my-cept higher taxes and less en-1includes some relief for the self, I am not asking you for Ray To Ask Continuing 90% Base ergy as part of an anti-inflation program that also includes jobs for the unemployed and stepped-up production to halt industry food price increases.    j    Rep.    Ullman    of    Oregon,    sec- Congress. is showing itself ond-rankmg Democrat on the willing to cooperate up to a tax-writing committee, said the point.    controversial bill’s chances lowest - income taxpayers and any increase in gas taxes.” (R hikes taxes on some sheltered He said the surtax measures ^ Randy Mmkotf higher incomes and on the oil he is seeking would raise an es-    DES MOINES (UPI)    — Bol stered by a treasury surplus exceeding $200 million, Gov. Rob- Stocks Gain NEW YORK (AP) - The stock market rose Wednesday. Comments by many lawmak- were much improved by Ford’s The Dow Jones average was ers indicated that the point at backing, which many of them would balk However, Ford would go is enactment of a 5-pereent sur- beyond the present provisions of I charge on the tax levied on cor- the bill in granting tax credits up 12.12 at 614.75 at 2 p.m. Gainers outnumbered losers 2-1 in moderate trading. eft D. Ray Wednesday painted an optimistic picture of the Iowa economic situation for the coming year to state department heads. However, the governor warned, the surplus could dwindle to $10 million by the end of poratc incomes and on incomes    to industry for investment in    t i rn a t c a $5 billion, which    the fiscal year 1977 and urged above $15,000 for a family    and    productive facilities. He would    “should pay for all the new pro-    department heads to continue i $7,500 for a single person.    raise the credit to IO percent    grams I have recommended in    conservative p I a n n i n g while from the current 7 percent for    this message.”    preparing their budgets for the Saying that low- and middle-i    coming biennium. Ray, paying heed to President ‘‘Politically Unwise” percent most industries and 4 percent 'I am aware that any propos- for utilities. a1 for new taxes just four weeks    „    .    ..    ...    .    cv-air.*    j.    -    i.    . before a national election is -    Surta*    Opposed    tart. h‘L ^ inflation,^ Ford kord s call Tuesday for reduced income Americans have been a national election is to put it mildly — considered politically unw 1 said Tuesday nj v.^tia»uciLu Some congressmen said tin* m t^e bou committee on ways his policy of urging departments , ■    • - J.'n' p''™nal T SU.?harge hart a"d means, which I favor, ai-1 to Z -90 peZnt^S- at a n lonelily no chance, others that inereas- rpadv nrn videos annroximatelv intr” hut umiin mi added, “The tax reform bill now spending, said he will continue sinr“,xrs sr air ars session of the house and senate, might put it over, and many .,rniin<, »    " ‘ But I do say    in all    sincerity 11 that    it could    be    enacted    if    the    Pr|Pndpa| provjsions of the    Pn(! pr0>,; Js a m SpC"d' committee bill that favor low    The 90 percent base budget- .. . , i    . , .    ...    „    .    ,    .    and middle income taxpayers    inc, first recommended two lf <*f our joint    determi-    Hugh Scot- suggested the surtax rclate (J stilndard Auctions    years ag0 by Ray called on nahon to whip intl*    ion.    take effect above the $20.00(1 used „v thnse who do not item-1    lepartmints    to protat theTr Appealing over the heads of,level; Republican Sen. Javits of i7. nn hfl.r tax returns    * in Lr i VT I the lawmakers in the floodlit New York suggested $25,000. A    t    a    taxpayer may they actually desired house cnamber, he asked his House Speaker Carl Albert tk ‘ slaruJard deduction of 15    at    sired, nationwide audience to “grow urged a staggered surtax; Sen.    of    income    up    l0    a    top    $207    Million more, waste less . . . drive less, Tannin (R-Ariz.) ruled out the - dciduction of $2 000 The bill At lts mornin8 meeting, State heat less . . .    share    with    tax entirely until every effort is!would increasc t’he percentage    Comptroller    Marvin Selden re- others.    made to cm federal sanding. I to 17 and the ceiling to $2,500.    vealed the    state had a $207 Move rant    Rep Broyhill (R-va ), a To jQW jncome taxpay-million surplus on June 30, 1974, Congressional leaders moved member of the house ways and ^ there is m present law also and would have a $180 million fast on two measures bord tar- means committee, which must L pr0vjv,ion for a flat deduction,'estimated surplus on June 30, 'geted for immediate action: A initiate tax legislation, told re-/of ^ m anyone may take, re-//»75. will not play America's future politics with income floor were raised. . This is the Senate Republican Leader Biggest Truck AP Wirephoto General Motors unveils the world's largest truck. This Terex Titan, 67 feet long and 2SVi feet wide, is called the biggest off-highway hauler ever built. It has a payload of more than 350 tons and is to undergo a minimum of 12 months' testing at a mining site In southern California. For size comparison, Michael Taylor of Las Vegas is dimly visible playing with his toy truck, and a Chevrolet Luv is parked in the middle of the hauler bed. House Quiz Of President Postponed Buti: Soviets Wanted Rockefeller 6 Millis Tcmcf Gram gj&to gardJess of what percentage of income this is. The bill would raise the deduction to $1,400 for resolution to hold spending at porters: $300 billion, $5 billion under ear-    “I’m    not going to sit still any lier estimates, and legislation    longer    for efforts to get more he said would clear the way for    tax blood out of the so-called j singje    taxpayers and $1,500 for the government to pour $3 bil-    middle    earners, especially the    coup|cs lion into the ailing home mar- young married families and the    ^    ^    Housing He said the 1975 projection Is nearly $100 million higher than he originally believed and the higher amount is due to an unexpected continuation (rf the growth rate of the Iowa economy. ket, enough for 100,000 homes,‘growing number of young sin WASHINGTON «AP» — The.ury Secretary Simon's assign- *    jby buying conventional as well*glen just beginning to earn a. Meanwhile, the house ways: Selden cautioned that the sur- WASHINGTON (AP) - Pres-Soviet Union was trying to buy menu when he goes to Moscow WASHINGTON (UPI) - The as government-insured mort-,decent income, to finance g|V*|anci means    plus would dwindle to $97.6 mil- ident Ford’s grilling by a house up to six times the amount of later this week will be to cstab- senate rules committee VV ednes-i gages.    away    e<    era progra ..    f    interest    earned    every    T °n Ju7*    aif? W0Uld .. .    ?    .    *    hic ain    day asked Nelson Rockefeller to Leaders conferred on ways to    Mn Ga* Tax Hike    *    interest    camel*    J    decrease to $10.6 million on judiciary subcommittee h a sjCorn and wheat for which it was bsh some ground rules on how provide a <.full explanation” of cut procedural corners and send    nQw aImost everybody (Continued: Page 3, Col 6.) June 30, 1977. Selden’s projections accounted ir it if    ★    ★    * been put off to a week from believed to be in the market much grain the Soviet Union can some $800,000 in gifts he gave these two measures to Ford by Thursday to avoid risking inter- whcn President Ford moved to buy from exporters in the U.S. former aloes, including Secre- Friday, the day congress is ference with the Watergate hait firain sajes t0 thc Russjans cover-up trial.    jas* Saturday, says Agriculture Chairman Hungate <D-Mo.) secretarv Rulz announcedlate Tuesday that his Bu(z ^ subcommittee made the dee!-    subcimmit- sion with White House concur- .    .    *1    .    .    .    .. „. ttnwj i    tee Tuesday his department had rence to afford amp e time lor , . f. c    . vrl.rtinn ,nH    .,(    es lma,ed ,,hc Soviets would be in the market for I million to 1.5 million tons of U. S. grain this ment selection and sequestration the Watergate jury.” Hungate said his announce Asst. Secretary of State Thomas Enders, appearing Tuesday before the senate subcommittee, said Simon will “detine the amount of grain that can be lifted from the United States this year.” was reluctant to make scheduled to begin a months' campaigning recess. Some said tarv of State Kissinger. The vice-presidential nominee assured Chairman Cannon <D- they would consider postponing Nev.) he would provide the ex- the recess, but plans were being planation “aswoon as possible.” nnade to avoid a postponement. “I don't know whether there's Ford s longer-term program a good explanation for the gifts ranged over the issues of taxes, or not,” Cannon told newsmen food production, employment, Enders said the state depart- aRer a krjef (committee meet ing. “I must say I have some How Surtax Would Work lf Approved WASHINGTON (AP for only 5 percent growth rate while thc latest figure of the growth rate in 1974 indicated 20 percent. Under Fire “This is the moft conservative projection”, said Selden, .    who came under fire from Dem it income is Sa,450. and the sur-|egjsjators during the .. s-.U    ii    ah    LI    rmn    ti    ♦    a    unuthllMf .    ° vear. within the range of what such definitions earlier this year question in my mind which 'had 'bwiTscheduleTTar ^pite'tcrt^^iiTp^S a"hou*h “ Probabl)' would hav<' "culdn't havc asked for this Thursday, would be post- here poned was triggered moments earlier by word from the court that the jury had not been selected. He said he did not talk to I, S. District Judge John Sirica and was given no indication how soon the ck>sed-door jury selection might be completed. Little Chance or a full .;energy, capital building and)congress approves. Americans    charge would apply    to anything    ,ast    scssion^ for prating too ;.price-raising practices both of eaming $15,000 and above are    over that    jpw    a growth rate in computing I the government and the private going to finance most of the new    In some cases, a    family fax*    the    state’s .surplus for the next I sector.    Vi.ar    against    inflation.    payer    with    more    than    $15,000    in-    (hree    fisca,    s Backs Tax Reform President Ford Tuesday pro- come hut with numerous deduc-! years. But Ray defended the figure The Soviets had failed to state how much grain they were trying to buy when it was discovered they had signed contracts to purchase 3.4 million tons of wheat and corn Irom two American companies, Blitz said. he didn t think Thc surcharge would be in ef- posed a 5-percent surcharge on tlons v“n kct*P jjj* taxable »n-jSayjng the economic situation ited a conflict of fnr A vpar 0nlv and Ford in^mg    $15    000    for    farm-    (    wme    below    $10.OOO .iud would i. i* uncertainties and that headed off the sale by two giant explanation. ,    Cannon    said grain exporters that was thwart- ,he ^ constituted a conflict OI    fet, for a year    0n|y and Ford    jncomc abovc $l5 00o for {ami-    cm'"‘ “•«'» *'»•«" auu. “uu“ has its uncertainties and that cd Saturday.    interest “but they do raise thc    ..j wouid    not a>sk this if    lies and $7,500 for individuals,    not be .subject to the surcharge. the (.urpjus was accumulated Lutz also told the committee question of influence of wealth    major loopholes    were not being    Here are some answers to    Thert‘ m,^ht also ** cases I for specific reasons. questions that taxpayers may where a taxpayer with less than “We’re not sure it will eon-how the surcharge $ 15.000 income must claim tax- tinue at thc same rate,” Ray he had advised one major grain in a political system on govern exporting compam it was all m^,n    .. ,    . „ . . ,    6 „    '    IM    .    Cannon    said    he    talked with right to sell one million tons of Rockefeller on the phone “and grain to the Soviet Union. A few he assured me he would respond days later, he said, “We fp]iy »* However checks by (he de-, changed the rules." and that Thl, chairman said the com- .....  „    „ , „ T j j pail mein of agriculture indicate dea| and others were stopped ml„c0 would meet in executive rhr . ^t.rL JE l r. ''. S.    ”'t    T” 3c,ual^ ,wasI He said all grain sales lo all SPSSlon after the congressional clrtrk?rfd^ewsmen that on the "T' i"g '°» »    al six nations were halted, but only for reCess lo discuss    the former cleric told newsmen that an Ute million tons of com and wheat |as. weekend, to allow a new Ncw york governor s reply Ford Hope: Inflation Cut In Early 1975 judge’s instructions he had at leaT he added, called Hungate's office to pass the word that there was little chance of completing ^election before Thursday. Uhristofferson also quoted the judge as saying he remained hopeful of having a jury by the end of the week and that ne felt selection was progressing well. daily monitoring system on Lutz also said one of Treas- grain exports to be put in place ^Continued: Page 3. Col. 7.) Mills Linked to Car Incident WASHINGTON I AIG — Pres* At ident Ford, declaring the nation is not in a . recession, f-aid would affect* them:     ”    able income in excess of $10,000 (cautioned. o Will thc surcharge result wolJM have to pay tax on the *We have a healthy treasury In a bigger withholding    Ux amount over $10,000    now. hut the surplus will be from my paycheck?    (J. Give me a better idea    of    used for continuing projects, A. No, the tax would be paid Hie cost. How much will I pay inost noticeably .school aid when you file your 1975 income J if I hav e $20,000 taxable in-    Analysis tax returns, which means you;    come atter taking my deduc-    | Rt,ferrjng (0 Ford's state- would not actually pay it    until    lions for a family of tour?    mentS( Ray sa,d he has not had WASHINGTON (AP) — Park they identified as service police have identified also accompanied next year In a news conference he said “we do have economic prob-Mills was Tin* Post also said Arkansas |ems hut it is a very mixed situ-by    Li I    tam*    state    records    in Little    Rock    aRon “ Rep.    Mills    (D-Ark.) as one of    Kassar,    38. of Washington;    and    showed    the    license plate    num-    That is why, he said, that “we Tuesday was the sixth day of f!Ve occupants of a car driving (Honda Sanchez, 36. and Albert ber. DOT 003, was registered to have to be very, very careful to the search for 12 unbiased “at an unreasonable speed with Gapacmi, 39. both of Arlington Mills.    make sure we don’t tighten the jurors and six alternates. The its lights off” at 2 a.rn Sunday. Gapaeim, identified as the No charge was filed. Officers screws” too much and cause process continued to be carried Mills, chairman of the house driver, was not charged. The said there was no indication am inore economic difficulty out    behind    the    closed,    guarded    ways and means committee, de-    auto bore Arkansas license    of the occupants was intoxicat- Ford said he is convinced doors    of    Courtroom    No.    2    with    nied. through a spokesman, that    plates.    cd. all panties under orders from he was in the auto.    Police    said    the    water    in    the    Hasn’t    Been    Seen Sirica to say nothing    The    police    said    Tuesday    that    arca is about three feet deep. The Washington Star-News Hungate    said    the    subcommit-    when    they    curbed the    1974 Lin-    though    it ranges    to    six tee    reached    an    understanding    coin Continental, a w<    man ran    further from shore Monday to postpone Ford’s tes-jfrom    it and jumped    into the tunony if there was no jury by 6 Tidal Basin The Washington Post reported and scratches on his fan that the police said the oceu tional police assisted in remov*    pants, other than Mills, engaged , Capitol Hill    since th** incident mg her from the water,” Officer    in a struggle when the auto first He was    not present during Larry Brent said    stopped. Later, when the woman President Ford’s economic mes- was pulled out of    the water,    sage to    a joint    session of they resumed their scuffle.    congress    Tuesday, which inelud- The    woman, who    identified    High-ranking park    service po-    od tax proposals of    direct con- herself as Anabell Battistella,    lice officials arrived    and, in at-    cern to    thc 18, of suburban Arlington, Va , tempting to quell the disorder, a,committee. 1976    A.    You    would    calculate    a reg- enough time to analyze thc en Wednesday he hones there can    ^*    ^i11    Pa>    the    surta*- ular tax of $4,380 Then you tjrc program, but said he m am be “some meaningful reduction u (,<‘nera!lv speaking, fame would subtract from that $1,820 fjdent the President was urging th rain of inflation” oarlv S W K™ss incomes of as tb<. (ax on the first $10,000 spending be reduced “where it in the rate of inflation earl) m m and over wU, Im* subject leaving a difference of $2,560    \£n be done ” to the tax. l*or individuals, the The surcharge would be 5 per    Kenneth Jemigan, d I r e c tor cutoff is $7,500. Those with in- mit 0f ^2.560. or $128 The total <,f the Iowa commission for the comes below these levels would tax due would be $4,508, which blind, said Ray's policy of using normally be excluded IF Pm making mort* than x 15.000. Does that mean my total tax bill will be increased by 5 percent because of the surcharge? is th** total of the regular tax of ,i*xtraint in preparing the budgets would help insure success when the requests are forwarded to the legislature next year. '! think that by asking us to $4,380 and the $128 surcharge IF Does this go into effect immediately? A. No, the President want** ...... .    A    No.    basically    the surcharge, that?if congress and the Amen- wilt be applied to thc tax on    uTam.rove uTnTn" can people respond, “we can v* ur income above $15,000, al-I    d    J * have hopefully in early 1975 though ifs slightly more compli- the surcharge to apply to 1975 carefully at what we want income only. It would be a one Scuffle Reported p rn Tuesday because of the ad Vance time needl'd for security over (Continued: Page 3. Col 7.) “I jumped in and brought her the seawall where addi- feet said witnesses insisted that SPm(, meaningful reduction in cated than that Mills had been a passenger and tbe rate of inflation ”    lf    you are the    head of a fami- was present throughout the in Earlier, he had -a*t a target cf ly of four and earn $15,000, the cadent They said he had blood 1976 for chipping inflation, and government already allows you his aides had said the seen on    take    up    to    thr**** battle $2 OOO in standard deductions years and $3.(HJO in personal exemp Ford defended his request for (ions lor your family. I hat a one-year 5 percent inrome tax leaves you with $10,000 taxable surcharge on corporations andj>ncom<‘- event <F Why is th** government increasing taxes now? Inflation already has reduced the purchasing pnwer of a worker s income bv about 5 permit, and this will hurt me and my family even more. A Ford said the battle Toduy'x Chuckle The way some people sound off on news, you’d think the daily paper printed only one copy and they had it. Taken to Hospital cove eM {gainst inflation requires sacra- upper-mcome individuals, and    The surcharge would apply as flees from all Americans Thc said ho didn't think it would a 5 percent increase to any tax additional $2 6 billion the gov-have to be extended beyond able income in excess of $10,000 eminent will raise from the tax be used to filer vice employ- was taken t<» a hospital and sergeant was pushed and fell Mills, a member of congress mend an increase in gasoline taxpayer who takes a $1,300 ment program’ for the jobless,1 later released, police said.    over some bushes, injuring his j since 1939. is facing a re-elec*    ----- standard deduction and a single and to offset tax incentives for Their report said the man back and leg, the Pout said. it ion contest in November    (Continued:    Page    3,    Col.    4.)    'exemption of $750, his taxable, business expansion. ways and means next vear    in    your case.    surcharge    will Asked whv he did not recoin- 1,1 case of an individual nance a public (Continued; I ’age 3, Col. 8 ) Today' s Index Comtes 61) Crossword ID Daily Record 3A Deaths ... .. ... 3A Editorial Features 6A Farm ...... Ill Financial 7D Marten IC Movies IIC Society 10B.13B Sports 1D4D State IC-3C Television IOC Want Ads IID-131) ;

  • Anabell Battistella
  • Carl Albert
  • D. Ray
  • Hugh Scot
  • John Sirica
  • Kenneth Jemigan
  • Larry Brent
  • Marvin Selden
  • Michael Taylor
  • Nelson Rockefeller
  • Randy Mmkotf
  • Thomas Enders

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Publication: Cedar Rapids Gazette

Location: Cedar Rapids, Iowa

Issue Date: October 9, 1974

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