Cedar Rapids Gazette, October 9, 1974

Cedar Rapids Gazette

October 09, 1974

View full page Start A Free Trial!

Issue date: Wednesday, October 9, 1974

Pages available: 149

Previous edition: Tuesday, October 8, 1974

Next edition: Thursday, October 10, 1974

NewspaperARCHIVE.com - Used by the World's Finest Libraries and Institutions
About Cedar Rapids GazetteAbout NewspaperArchive.com

Publication name: Cedar Rapids Gazette

Location: Cedar Rapids, Iowa

Pages available: 3,726,819

Years available: 1932 - 2016

Learn more about this publication
  • 2.18+ billion articles and growing everyday!
  • More than 400 years of papers. From 1607 to today!
  • Articles covering 50 U.S.States + 22 other countries
  • Powerful, time saving search features!
Start your membership to the world's largest newspaper archive now!
Start your genealogy search now!
See with your own eyes the newspapers your great-great grandparents held.

View sample pages : Cedar Rapids Gazette, October 09, 1974

All text in the Cedar Rapids Gazette October 9, 1974, Page 1.

Cedar Rapids Gazette (Newspaper) - October 9, 1974, Cedar Rapids, Iowa tonight wild lows a r (i 1111 d 'ID. Partly cloudy mill w a r in e r Thursday will) highs in upper 70s. VOLIIMK NUMHIJK 273 CITY FINAL 15 CENTS AKSOCIATKD PHKSS, NICW Congress Going Along with Except on 5% Surtax WASHINGTON (AP) Pres-lcloscd by the id cut Ford has challenged: tax reform bill, congress and the public to He endorsed cept 'higher taxes and less en-iincludcs some ergy as part of an anti-inflalionjlowesl income program Ihat also includes jobsjhikos taxes on for the unemployed andlhigher incomes and on stepped-up produclion to hall industry, food price increases. Rep. Ullman of Oregon. Gain Congress, is showing ilsclfiond-ranking Democrat on thej Udlll willing to cooperate up lo committee, said the, NEW YORK (AP) The noint. i controversial bill's chances j slock market rose Wednesday. Comments by many lawmak-iwere much improved by Ford's! ''''10 Junes average was and means has staled my position en 'federal gasoline ford the bill, whichisaid. "This lime I'll do it my- relief for Ilicjself. I am not asking yon for taxpayers and {any increase in gas taxes." i some sheltered; ile said the surtax measures Ilalllly Mmkoff the oil he is seeking would raise an cs- above for a family and i productive facilities. Ile would "should pay for all the new pro. for a single person. "Politically Unwise" Biggest Truck General Motors unveils the world's largest truck, ihis Terex Titan, 67 feet long and feet wide, is called the biggest off-highway hauler ever built. It has a payload of more than 350 tons and is to un- dergo a minimum of 12 months' testing at a mining site in southern California. For size comparison, Mi- chael 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. ers indicated that the point which many of them would balk However, Ford would go is enactment of a 5-percent sur-ibeyond Ihe present provisions of charge on the tax levied on bill in granting tax credits morale incomes and on incomes i to industry for investment mated up 12.12 at 014.75 at 2 p.m Gainers outnumbered losers 2- 1 in moderate trading. DBS MOINES Bol- stered by u treasury surplus ex- ceeding million, Cov. Rob- ert D. Hay Wednesday painted an optimistic picture of Ihe Iowa economic situation for Ihe coming year to state depart- ment heads. I However, the governor j warned, the surplus could clwin- ;dlc lo million by the end of fiscal year 1D77 and urged most industries am aware that any propos- for al for new taxes just four weeks; before a national election is Surtax to put il mildly considered! Some cairi HIP politically unwise Ford! personal income surcharge had said Tuesday al a nalionally no chance, others that increas- televiscd and broadcast joint ing public concern on inflation session of Ihe house and senate, might put il over, and many "Bul I do say in all sincerity lithai il could be enacted if the will not play politics with: income lloor were raised. America's future This is Ihe; Senate Republican Leader acid lest of our joint eJclermi- Hugh Scot1 suggesled lhc surtax nation to whip inflation." Hake effect above the Appealing over Ihe heads Republican Sen. JaviLs of the lawmakers in the York suggested house, chamber, lie asked hisjllouse Speaker Carl Albert nationwide audience to "grow income Americans have hard hit by inflation, raise tile credit to JO percent grams I have recommended in from the current 7 percent for! Ihis message." and -I percent Saying tbut low- and middle- been Ford added, "The tax reform bill now in (lie Injure cunmimce un ways and means, which I favor, al- ready provides approximately billion of tax relief lo these groups." department heads to continue conservative p I a n n i n g while preparing their budgcls for the coming biennium. Kay, paying heed lo President Ford's call Tuesday for reduced spending, said he will continue his policy uf urging departments to use "90 percent base budget- bul would not make an outright statement that he more, waste less heat less others." Move Fast drive less, share with urged a staggered surtax; Sen. Fiuinin ruled out (he tax entirely until every effort is made to cut federal spending. j Rcp. Broyhill a planned any cutbacks in spcnd- Principal provisions of the ing programs, committee bill that favor lowj The 00 percent base budgcl- and middle income taxpayers ing, first recommended two relate to standard deductions used by those who do not ilcm- on their tax returns. At present, a taxpayer may take a standard deduction of 15 Congressional leaders moved (member of (he house ways and fast on Iwo measures Ford lar-J means commitlee, which must fast on Iwo measures Ford lar- means commitlee, which must Jjrovjsjon for a flat deduction ____Igeled for immediate action: tax legislation, told may take, re- years ago by Ray, called on departments to protect their revenue al 10 percent less than they actually desired. percent of income up to a lop ?Z07. Millio" deduction of The bill Al "s mornin8 Male would increase the percentage to 17 and Ihe ceiling to To help low income taxpay- ers, there is in present law also House Quiz Soviefs Wanted jRockefelier Of President resolution lo hold spending at'purlers: billion, billion under ear-; "I'm not If) fill Still ally Comptroller Marvin Scldcn re- vealed the stale had a million surplus on June DO, and would have a million eslimaled surplus on June 30, 1975. jgardless of what percentage ofl lie said Uic projccfion is Postponed in 6SOITT llicr estimates, and legislation longer lor clforls lo get more Explanation WASHINGTON (UPI) The WASHINGTON (AP) The ury Secretary Simon's assign- WASIIINGTON (AP) Pres-jsovicl Union was trying lo when he goes to Moscow ident Ford's grilling by a six times Ihe' amount of later Ihis week will be to Wcdnes- judiciary subcommittee h a and wheat for which it was been put off to a week lo be in lhc market Thursday to avoid risking president Ford moved lo fercnce with (he Watergate; Krain sales lo the Russians cover-up trial. Saturday, says Agriculture Chairman Hungatc announced late Tuesday that liis' sion with While House concur- rence "lo afford ample time for selection and sequestration of (he Watergate jury." he said would clear Ihe way for! lax blood out of the so-called [av the government lo pour bil-j middle earners, especially Ihe lion into Ihe ailing home mar-; young married families and the kct, enough for homes, (growing number of young sin- by buying conventional as well gie.s just beginning earn a income Ihis is. The bill would raise the deduction lo for and for as government-insured mort- decent income, lo finance give- lish some ground rules on of much grain the Soviet Union in gifls lie gave buy from exporters in the U.S.'former aides, including Secre- tary of Stale Kissinger. j The vice-presidential nominee assured Chairman Cannon ID- told Ihe senate perma- nent investigations subcommit-i tee Tuesday his department had! es'imalcd lhc Soviets would be; in Ihe market for I million to 1.5, Asst. Secretary uf Slate Thomas Endcrs. appearing Tuesday before the senate sub- committee, said Simon will "define the amount of grain that can be lifted from the United Slates Ihis year." cut procedural corners and send these Iwo measures to Ford by Friday, the day congress is scheduled lo begin a month's! campaigning recess. Some said they would consider postponing "By Icdcral programs." No Gas Tax Hike now almost everybody -k Aid for Housing Meanwhile, the house and means committee approved from taxation earned every (Continued: Col. (i.) a bill to excludi of interest ax iNev.) he would provide lhc ex- the recess, but plans were being planalion "as-soon as possible." made lo avoid a postponement. I "I don't know whether there's! Ford's longer-term program: a good explanation for the over Ihe issues of taxes.! or nol." Cannon told newsmen'food produclion, employment.' Enders said (he slate eommitlee capital building WASHINGTON (API If [income is and the sur- congrcss approves, Americans Hungatc siud ment that_ the Ford setbacks in production million Ions ol U.S. grain this I ment was reluctant to SMy I have some j price-raising practices both of whallsllci, definitions earlier this yearqucstion in my mind or I lhc government and the private; jj, finance most of the new imfltl V 11. i n _ ...i .1 i......11 i' i i ci which had been scheduled this Thursday, would be poned was triggered moments, earlier by word from the court! lllc had failed to that lhc'jury had nol been se-i (llc-v Irving to buv when it ,although it probably would have asked for a full :headed off the sale by two giant explanation." 'grain exporters Ihat was fa .the gifts constituted a conflict of lected. He said he did nol talk lo U. S. District Judge John Sirica and was given no indication how soon the closed-door jury sclec- was d i s c o v e r c d they had signed contracts to purchase :i.l million Ions uf wheat and corn from American com- ecl Saturday. aiso told the interest "but they of influence of wealth sector. against inflation. Hacks Tax Reform president Ford Tuesday pro- The surcharge would be in ef- a 5-pcrccnt surcharge on jfecl for a year only and Ford income above for fami- do raise the "j ask this he had advised one major grain in a political system on govern- exporting companv it was 1 b Cannon said he talked with ics and for major loopholes were not being; are some lividuals. answers to charge would apply to anything right to sell one million Ions on (hc phom, lion might be completed. Lillle Chance At (he ccui rt liousc. Tccld'the Soviet Union actually was Christoffcrson, Sirica's to buy a total'of six lo the Soviet Union. A assured me he would respond jdays later, he said. "We However, checks by the deranged (he and that Thc (.hairman said Ihe com- parlment of agriculture indicate dcal aral wcrc slopped. mitlco in executive He said all grain sales lo after the congressional i thn i nations were halted, bul only for' to discuss the former j WASHINGTON I APi Pres- told newsmen that on the ,ons a New Vork reply. Allident Ford, declaring the- nation daily monitoring system on of Treas-igrain exports lo be put in place. judge's instructions he had called Ilungate's office to pass (he word that Ihere was little chance of completing selection before Thursday. Chiislofierson also llie judge as saying he remained hopeful of having a jury by the end uf the week and thai lie fell selection was progressing we j questions that taxpayers may ihave on how the surcharge 'would affect them: I Q. Will (he surcharge result in a bigger withholding tax from my pay check'.' A. No, the lax would be paid Iwhcn you file your 11175 income lax returns, which means you would nol actually pay it unlil In some cases, a family lax- payer with more than in- come but with numerous deduc- tions can keep his taxable in- come below and would not be subject to the surcharge. There might also be cases where a taxpayer with less than income must claim tax- able income in excess of He would have lo pay lax on the nearly million higher than he originally believed and lhc higher amount is due lo an unexpected continuation of the growth rale of lhc Iowa econ- omy. Scldcn cautioned Ihat lhc sur- plus would dwindle to mil- lion on June 30, 1070, and would decrease to million on June 30, 1077. Scldcn's projections accounted for only 5 percent growth rate while the latest figure of Ihe growth rale in 1974 indicated 20 percent. Under Fire "Tliis is Ihe mes! conserva- tive said Scldcn, who came under fire from Dem- ocratic legislators during the last session for projecting loo low a growth rale in computing the state's surplus for the next three fiscal years. Bul Ray defended Ihe figure saying Ihe economic situation has ils uncertainties and that lhc surplus was accumulated for specific reasons. not sure it will con- tinue at lhc same Hay "We have a healthy treasury amount over but Ihe surplus will lie Give me a better idea of used for continuing projects, Ihe cost. How much will I pay if I have taxable in- come after taking my deduc- tions for a family of four'.' most noticeably school No Analysis Referring lo Ford's state- ments, Kay said he has not bad Mills Linked to Car Incident is not in a .recession. faiel Q. will pay the surtax'.' Wednesday he hopes Ihere can; A speaking, fami- be "some meaningful incomes of in the rale of inflation" will be subject 'li. Ihe lax. For individuals. Ihe In a news conference fie said WASHINGTON i.M'i Park.they identified as Mills was The Post also said Arkansas service police have identified also accompanied by l.iliane slal'1 record.: in Little Rock Mills iD-Ark I as one .'111. of Washington: and showed Ihe license plale nuni- Tuesday was Ihe sixth day of occupants of a ear driving Glorida Sanchez. .'Hi. and AlberljbiT. DOT OO.'t. was registered ID the search for 12 unbiased "at an unreasonable .speed wilh'Gapacini. 'III. both of Arlington.'Mills. jurors and six alternates. The its lights off" al 2 a.m. Sunday. Gapacini, identified as the N'i> rharue was filed. Olliccr.s process continued to be carried Mills, chairman uf the was not charged. Ihcre was no indication any mil behind the closed, guarded ways and means commitlee. dc-jaulu bore Arkansas license of the occupants was intuxiral- ciiloff is Those will) "we do have economic prob- leins bul il is a verv mi.xcd situ doors of Courtroom No. 2 with nied. thrmigh a spokesman, ilia! plates. all parties under orders Irmn he was in Ilic aulii. Police said Ihr water in lite Sirica to say nothing. Tnc police said Tuesday thai area is about three led deep. Hungatc said the subcummit- when they curbed the il range'.-; to six [eel tee readied an understanding coin Continental, a we man ran.further from shore. Monday lo postpone Ford's les-ifrom it and jumped into the Innony U there was no jury by II Tidal Basin "I jnmpe'd in and brought he-i1 u'.vi' llit- M'.v.t.'dl v.herc aildi- li'inal police asMsled in re mov- ing her I'reiiii Hie Oflicrr Hrt'iu said Hasn't Ue-e'ii Seen 'I hi' Washington aid "wilnesse'S insisted normallv be excluded. alum. That is why. he said, thai "we lhil" have lo very, very careful to lhi" make' sure wr'don'l lighten the' hl11 wil1 "ncrcasi-il screws" much and ,-M-f 3