Cedar Rapids Gazette, November 7, 1974, Page 7

Publication: Cedar Rapids Gazette November 7, 1974

Cedar Rapids Gazette (Newspaper) - November 7, 1974, Cedar Rapids, Iowa For Better Health Parents Should Insist Child Uses Safety Belt By Br. S.L. Andclman A reader writes “Our two-year-old loves to go out riding But she insists on sitting on the edge of the seat so she eon see out the window. Isn t this dangerous?” Nou bet it is. I suggest you put yourself in control of this situation immediately and tell your daughter she must innately buckled in before you start on a drive. You’d take her t" a pediatrician if she had a high temperature and cough. right? Well, her chances of being seriously hurt are far greater from a car accident than from a cough or fever, or from almost any other discase that may strike her. Car accidents are the No. I killer of people in the United States from age I to 40 Prevented N ou can make your child’s future, as well as your own. brighter by using proper restraints while riding. Experts estimate that HO percent of all deaths from car accidents could be prevented if both drivers and occupants used seat belts. For example, deaths from car accidents in Australia have dropped more than 30 percent since it passed a law making it mandatory for all car occupants to wear seat belts or be fined. So there’s no question that proper restraints work to save lives. They may save your life or your child’s. Seat and shoulder belts are the proper restraints for adults. Be sure to wear them as directed Children weighing more than 40 or 50 pounds should use the lap licit only if under four and one-half feet tall. Children taller than four and one-half feet should also use the shoulder belt — but be sure it doesn’t ride high on the neck. Currently, Physicians for Automotive Safety and Consumers Union recommend three restraints for small children. The General Motors Infant Carrier is recommended for all infants up to 20 pounds. It doubles as a general-purpose infant seat and is available from GM dealers for $12. Restraints Two restraints are recommended for children weighing more than 20 pounds but less than 50. The Ford Tot Guard, selling for $25. is a molded plastic device with pudding which is very convenient to use. It s available from Ford dealers. The Sears Child Safety Harness is a simple harness which gives the child some freedom to sit or lie down It takes alxiut an hour to bolt to the car floor and costs $8 Remember, car accidents are the most common cause of children’s deaths in the United States and most of these deaths can be prevented if parents provide their children with the proper restraints. Ifs easy to think “it won t happen to us” — but the only way to insure that you’ll be relatively safe is to outfit your car with restraints for your children and be sure they use them And use your seat belt, too. Children learn by example. lf you want them to learn caution, buckle up yourself — all the time. Snow Plow Used For Corny Job The Cedar Rapids Gazette: Thors., Nov. 7, 1*74 ZA Year-End Tax Strategy Could Benefit Stock Investors MEMPHIS, Mo. (AP) — The state highway department put a snow plow into action near this northeast Missouri town, but the problem wasn’t snow . Paul Burns, the department’s maintenance foreman for Scotland county, said the wind blew several large stacks of chopped com stalks onto U.S. 136 Wednesday, covering a 300-foot stretch of the highway about six inches deep with stalks and blocking traffic. Burns said the only solution was to get out a maintenance truck with a snow blade on it. The clearing job took about 15 minutes. It Pays to Advertise By Sylvia Porter NEW YORK - Q. Is there any year-end tax-cutting strategy for you, the taxpayer who has invested most of your free cash this year in high interest savings certificates, money-market funds and bonds? Can you make any wise moves if you now have lots of Interest income — fixed and taxable Just as your salary Is taxable — and if whatever stocks you did buy in 1974 you hold at sickening losses? A. Yes. Go through your list of stocks to see if you have any that qualify as short-term losers —- held for six months or less. If these appear likely to turn into long-term losers, take a sufficient loss lo offset up to $1,0(10 of your interest income. For. as Prentice-HalPs top tax experts emphasize, you can use (Fourth of a series) net short-term losses to offset up to ll ,000 of ordinary income dollar for dollar. If you have long-term losses, you can use them too to do the same job, but it will take $2 of long-term loss to offset $1 of your taxable interest income. Q. W hat if you want to stay in the stock because you think it is heading up and possibly, quite soon” A. If you’re not anticipating the big rise in the stock within the next month, sell to take your loss for tax purposes, wait 31 days and then reinvest in the same stock. You must wait the 31 days because otherwise, it s a “wash sale,” and you can’t deduct the losses — real tax trouble. (It’s a wash sale if. Demo Explains Republican Joke WASHINGTON (AP) - Hep. Charles Carney (I)-Ohio) says Youngstown Republican Mayor .lack Hunter was joking when he asked the congressman to sponsor a bill adding Republicans to the list of endangered species and making it a crime to turn them out of office. “The mayor's comments were made in jest, but I can understand his feelings.“ Carney, who didn’t agree to the suggestion, said in a statement. Sylvia Porter within 3(1 days before or 30 days after this sale, you buy the same securities you sold at a loss.) If you’re afraid to wait the 31 days because you might miss out on the action, invest in a similar stock in the same industry. If the industry is hot Big George! and you buy a comparable company, your new stock almost surely will go up too. fialn or Loss Under current tax law definitions, the gain or loss you realize on a capital asset (stocks, bonds, real estate) you’ve held for more than six months is long-term. Either (I) half of your long-term gain is taxi'd at your regular rate in the regular way, or (2) the first $50,(HK) is taxed at 25 percent and half of any excess is taxed at your regular rate. The gain or hiss on the asset you’ve held for six months or less is shortterm. Short-term gains are taxed as ordinary income. Virgil Partch Pi The special rules for capital losses are (I) net short-term losses can be used to offset up to $1,00(1 of income $1 for $1; (2) net long-term losses offset up to $1,000 of ordinary income but only on a $2 for $1 basis. If tax reform legislation before congress is passed, long-term gains would be given more favorable treatment, depending on the holding period. Moreover, capital losses could bo used to offset as much as $3,IHM) of ordinary income in one year. (J. Should you then hold off taking any paper losses now in order to triple your benefit next year? A No — for first, this tax reform may not even be passed and taxes alone should never govern your investment strategy. Also after offsetting your losses against the $1 OOO of ordinary income this year, any losses that remain unused may bi1 carried forward indefinitely. When you carry them forward, they still retain their status as long-term or shortterm losses — and the new $3,000 offset would apply to these carry-over losses. Tax Strategy Before you can make any intelligent year-end tax strategy decisions, you must figure out exactly where you stand. So (1) Add up all your longterm gains (if you have any after this prolonged stock market disaster.) Add up all your long-term losses Offset the totals against each other The result is your net longterm gain or loss. (2) Do the same with shortterm gains and losses to find your net short-term gain or loss. (3) Compare the net longterm total with the net shortterm total If you show gain in both departments, treat both separately. Add the short-term gain to ordinary income. Compute the long-term gain under the rules shown above. (4) lf you have more net long-term gain than net shortterm loss, offset and treat the. result as your long-term capi-. tai gain. If your net short-term gain exceeds your net longterm loss, treat the net result as short-term gain. (5) If you have both net long-term and net short-term losses, use them as this column has suggested and carry over any excess losses for use next year. Next: Time your charitable contributions. “Cieorge, I'd like you to meet C yril Houtchfield here He's quite ac tive in our little theatre movement ” IOWA-ILLINOIS GAS AND ELECTRIC COMPANY OFFICES WILL BE CLOSED MONDAY, NOVEMBER lith in oim^rvance of VETERANS" DAV Telephone switchboards and personnel required to handle emergency calls will remain on duty to assure you of continuing, dependable service during the holiday. Crisp Juicy APPLES • Jonathan • Red or Yellow Delicious • McIntosh • Chieftain • Grimes Golden available in VS or Full Peck or Vt or full Bushel Fresh Home-Made APPL! CIDER —* I 95 Gal. TULIP    in. *i19 BULBS Reg. 1.79 IU for I Open Daffy 9 a.m. to 6 p.m. Sat. A Sun. 9 to 6 HOLLAND ORCHARD & NURSERY 3VS Mile* Won on Hwy. 30—Phono 363-6606Smulekpffs NOW! Big Savings With Trade-InFINE HOME FURNISHINGS ——    ’**    *■* FREE DELIVERY Th* Al HIRT OM arm ft* diWOHA* pittIU* Big Trade In Allowance For Your Old Black and White TV Set A fabulous Sale at Smulekoffs, offering outstanding values. Now is the time to give your family the best in TV enjoyment . . . RCA COLOR TV . . . You’ll find extra liberal trade-in allowance for your old black and white TV set and an array of cabinet styles from which to choose. Beautiful cabinets, life-like audio and true to life color picture are yours with an RCA COLOR TV. Makes TV enjoyment come alive ... so act now, get COLOR TV enjoyment ct rare savings. Come NO^ to Smulekoffs in Downtown Cedar Rapids. n f* #1 Th*AU,S0M Mud* UTU) ft* didRondl »««••<• Now Big Savings With Trade In Yes, genuine RCA COLOR TV . , . best in the industry ... all new models, yours to choose from. Extra Big Trade in-Allowance for your old Black and White TV Set. n    mmj    Th* IAMAMCNA lf    Mudtl (iiMU *    ?t* dMfDHll PICI UVV VV#* arn imhkmburg Iliff Mottler;* ft* didtfooal ptclUK lh. BU ROU* TOMM Modal UTU ft* CuRpnti p.duK free parking For Our Customers, Use Park and Shop Plan Act NOW! Trade In Your Old TV For ROA COLOR TV Open TONIGHT (Thurs.) ’til 9 p.m. Smulekpffs THIRD AVENUE AT FIRST 8TREET S E. DOWNTOWN CEDAR RAPlOS ;

  • Al Hirt
  • Charles Carney
  • Paul Burns
  • Sylvia Porter
  • Virgil Partch

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Publication: Cedar Rapids Gazette

Location: Cedar Rapids, Iowa

Issue Date: November 7, 1974

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