New Braunfels Herald Zeitung, June 14, 1987, Page 7

New Braunfels Herald Zeitung

June 14, 1987

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Issue date: Sunday, June 14, 1987

Pages available: 52

Previous edition: Friday, June 12, 1987

Next edition: Tuesday, June 16, 1987

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Publication name: New Braunfels Herald Zeitung

Location: New Braunfels, Texas

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Years available: 1952 - 2013

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All text in the New Braunfels Herald Zeitung June 14, 1987, Page 7.

New Braunfels Herald Zeitung (Newspaper) - June 14, 1987, New Braunfels, Texas Business Briefs Collector's car auction Brook’s Motors Collector's Car Auction will be held at IO a rn June 20. Sept is and Dec 5. Admission to the Wursthalle will tx* Job-related moving costs tax deductible Moving expenses directly associated with employment for wake earners or self employed per Is Volcker a hero? NKW YOUK (AP, The popular view of outgoing Federal Reserve chairman Paul Volcker is that of a savior: He Is the man who saved the Knifed States from the scourge of In Ration Few monetary officials have such a sharply detailed Image, since their job is to remain backstage and speak only in colorless abstractions The money supply and its manipulation cannot compete with sports or show business Still. Volckers popular image is clearly defined. He is the man who slew the Inflation dragon that had devoured the savings of people in the 1970s and it is widely believed brought on the deep recession of 1981-1982 But among some respected economists and financial people, the Fed chairman has a different image lo them, he and a predecessor, Ar thor Burns are ideologues who have thwarted America's economic recovery To such people both Burns and Volcker demonstrated a propensity to seek solutions to economic problem* in higher interest rates despite evidence that those rates might produce rather reduce disequilibrium Prominent among Volcker’s critics is Paul Craig Roberts, a professor Business Week columnist, and former assistant secretary of the treasury for Economic Policy To Roberts, who holds a chair in political economy at Georgetown I nlversity and is also a fellow of the Hoover Institution at Stanford I nlversity, Volcker shifted the economy to high Interest rates wrecked federal budgets, helped produce the recession of 1981-1982, and has slowed the subsequent recovery The Roberts view has many sup porters, and one of the most vociferous is .John Winthrop Wright former educator and manufacturer ;;nd founder of Wright Investors Service. a large and highly regarded Bridgeport, Conn portfolio manager and adviser Wright believes high interest rates debilitate the economy rather than help to keep it on a straight and narrow course free from extremes But since the early 1979s he says, this country has thwarted growth by means of high rates “We have obsoleted our indusrtal plants with those rates.” he says Meanwhile he adds, the Japanese Koreans and others have been building their industrial might and competitiveness Now, he continues, Volcker has employed the all purpose “remedy, ” again, forcing interest rates higher in order to support the dollar If the dollar isn’t supported, it is argued, foreigners might dump their dollar assets That argument has been attacked by many others including Morgan Guaranty Trust Co , the contention being that a decline in the price of dollar assets is likely to attract not repel foreign investors But to Wright, the biggest fallacy is that higher Interest rates can only thwart U S. economic growth at a time when factory capacity is only 78 percent, rather than the 85 percent that used to prevail In good times How can we get out of the hole while using only 78 percent of capacl ty?” he asks “How can we reduce the budget deficit-’” According to Wright, Volcker suf fers from the same misconceptions that he attributes to Burns, who headed the Fed in the 1970s During that decade Wright constantly criticized Burns' high Interest rate policies Burns, he says, completely misunderstood the economy of the time, and declined to accept any viewpoint other than his own He totally misunderstood the reason for inflation Wright argues now as he did then The 1970s inflation, according to Wright, did not arise from American profligacy It came from Eurodollars, or the creation of dollar obligations by foreign branch banks through the process of making big loans “Now let’s hope we get back to common sense ” Wright said There is no danger now in lowering interest rates, he says The economy operating well below capacity, needs lower rates sons may be tax drdi,    ti    i    i ternal Revenue Service aid Generally, to deduct the movi > costs a person must start work at a new location that adds a* least miles to the distance from the former home to the work place Also a wage earner must work full time at a new location for at least 59 weeks of the 12 months following the move Seif employed individuals must work in the new location at least 99 weeks of the first 12 months Tax Continued from Fag* AA enough tax liability . that may mean you'll have to have very high withholding for November and December to make it up ” he said About 70 percent of taxpayers already have filed one of the two new forms be said Taxpayers could face penalties for not paying enough tax before ne*' year's filing season Students also can no longer claim exemption if their total Income from wages and in terest is over 1500 The $1,080 deduction previously allowed cannot be listed on a child s taxes if he or she is being claimed on a parent s form, he said Now Open... Westerner Barber Shop Westerner Shopping Center (Next to City Pharmacy) 382 Landa Introductory Offer Wet Cut    NOW    AF AA With Blow Dry    Only    yU • UU Reg. $7.00 Expires Aug. 30,1967_____ Regular Cuts & Hair Styles Hours: Tues, thru Fit 9 am - 6 pm Sat. 9 am-3 pm KNOW YOUR LIMITS... Maximum legal speed for cars, motorcycles, commercial buses and light trucks in rural zones of Interstate designated highways only. ucKs in r O SPEED LIMIT 55 Still the maximum legal speed permitted in most highway zones. ...it's to your safety advantage. A courteous romindor from tho OPS Troopers. arui a tola I of at leas 78 week.- ' the first ?.4 months to qualify for moving expense adjustments Call IRS af I BOO 424 FORM to order a copy of Publication 521 Mov ing Expenses for more information IRS program a problem solver B»-»*n bark and forth through nor mal channels trying to get a knotty tax problem resolved' If xj, the In ternal Revenue Service says you ought to knov ihr ut r>r*f offir e that can help Thr Problem Re Clutier program Is set up to cut through Tamers and help taxpayers with chronic tax pro biems The most common problems brough* to the PRP office are com plaints about mi' sir,g fends mixed up social security numbers and in correct billing* by IRS. IRS cautions however that Problem Resoution is no*    subs?,‘Ute for normal pro cedures F or example persons who have not received their refunds should first cal! the IRS 'ax Information number I 800 424 1040. to seek help If the refund is still not sent the taxpayer should contact the IRS and ask to be referred to the Problem Resolution office Radio /hack A DIVISION OF TANDY CORPORATION Different Sale Items in Different Stores, But All Stores Are Loaded With Budget Pleasers Many Not Mentioned Here. Hurry in Today for Best Selection! DISCOUNTS 0“ REGULAR PRICES AND APPLY TO SELECTED ITEMS ONLY I r 7 7    1 1 7    ;    .......1    -    '—I NATIONWIDE TENT SALE J Ii JEUiJL^i JL ihJPdWb J Mi Ll '    '    y     ./ y a EXCITING RADIO VALUES 20°/o to 33% OFF COLOR TVs & MONITORS CUT 30% to 37% CAR STEREO EQUIPMENT CUT 27% to 33% COMPUTERS, HARDWARE & ACCESSORIES 50% to 62% OFF ANSWERERS AND PHONE ACCESSORIES 12% t. 53% OFF PRINTING & SOLAR CALCULATORS CUT 20% to 44% COLOR COMPUTER SOFTWARE CUT 50% to 90% PORTABLE AM/FM STEREO CASSETTES & COMPACTS 30% to 50% OFF PORTABLE CD PLAYERS, TAPE DECKS & RECEIVERS 29% to 60% OFF SCANNERS, CBS & SECURITY SYSTEMS CUT 12% to 53% I PLUS Tremendous Savings on These Bargains and Many More! Hi-Power Car Stereo By R#alt*tic Stereo Rack System System 'CO by Pea s**c Save *60 Reg 159 95 Cot* At 120 Moot* • Twelve watts pe<- charnel iof deep bass and a ie & ■ Ayto-reverse cassette Reg t99 95 14995 i Complete with 2 speed phono JLa!-ea*set’e dec* ‘nr ducdmq FM AM ' 27 -high spea^e's *’3 i22d VHS VCR With HQ Mode* 20 by nwri sec SS 29995 Reg 459 95 Low At 120 p** Morn*. Witch TV shews and v ceo mpv ,e*S when you want to see 'hem mQ *■ s sh re' ?■.    .    «    vA"'* Phone Answerer With Remote Control TAC 3*2 Cy QUoFONE Lit* At 120 »•* Month . Use remcte to turn answerer on 'asm %nd cher* messages 'rem I • 4.1 Jo Check Your Phone Book for the ttodie /haefc Store or Dealer Nearest You Most Major Credit Cards Accepted PRICES APPLY AT PARtI PAt *. j S 'JRI- S AS ) > ALE- RS It    Ijpo'1    swntf ;

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