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New Braunfels Herald-Zeitung (Newspaper) - June 14, 1987, New Braunfels, Texas Business Briefs New Texas June Collectors car auction Jobrelated moving j Motors doiiectors car Auction will be held at 16 June 19 and Admission to the Wufsthalle will be deductible Moving expenses directly associated with employment for wage earners or selfemployed per Is Volcker a hero NEW YOUK The popular view of outgoing Federal Reserve chairman Paul Volcker Is that of a savior He Is the man who saved the United States from the scourge of In Few monetary officials have such a sharply detailed since their job Is to remain backstage and speak only In colorless The money supply and Its manipulation cannot compete with sports or show 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 It Is widely brought on the deep recession of 1981 But among some respected economists and financial the Fed chairman has a different To he and a Ar thur Burns are Ideologues who have thwarted Americas economic To such both Burns and Volcker demonstrated a propensity to seek solutions to economic pro blems In higher Interest rates despite evidence that those rates might pro duce rather reduce Prominent among Volckers critics is Paul Craig Business Week and former assistant secretary of the Treasury for Economic To who holds a chair In political economy at Georgetown University and is also a fellow of the Hoover Institution at Stanford Volcker shifted the economy to high Interest wrecked federal helped pro duce the recession of and has slowed the subsequent The Roberts view has many sup and one of the most vociferous is John Winthrop former educator and and founder of Wright Investors Ser a large and highly regarded portfolio manager and Wright believes high Interest rates debilitate the economy rather than help to on a straight and nar row course free from But since the early he this country has thwarted growth by means of high We have obsoleted our indusrlal plants with those he he the Koreans and others have been building their industrial might and he Volcker has employed the allpurpose forcing interest rates higher in order to support the If the dollar isnt it Is foreigners might dump their dollar That argument has been attacked by many Including Morgan Guaranty Trust the contention being that a decline in the price of dollar assets is likely to attract not repel foreign But to the biggest fallacy is that higher interest rates can only thwart economic growth at a time when factory capacity is only 78 rather than the 85 percent that used to prevail In good How can we get out of the hole while using only 78 percent of capaci ty he How can we reduce the budget deficit According to Volcker suf fers from the same misconceptions that he attributes to who headed the Fed in the During that decade Wright constantly criticized Burns high interest rate he completely misunderstood the economy of the and declined to accept any viewpoint other than his He totally misunderstood the reason for Wright argues now as he did The 1970s according to did not arise from American It came from or the creation of dollar obligations by foreign branch banks through the process of making big Now lets hope we get back to common Wright There is no danger now in lowering interest he The operating well below needs lower sons may be tax the in ternal Revenue Service to deduct the moving costs a person must start work at a new location that adds at least 35 miles t6 the distance from the former home to the work a wage earner must work full time at a new location for at least 39 weeks of the 12 months following the Selfemployed individuals must work in the new location at least 39 weeks of the first 12 months and a total of at least 78 weeks of the first 24 months to qualify fof moving expense Call IRS at 1800424FORM to order a copy of Publication Mov ing for more IRS program a problem solver Been back and forth through nor mal channels trying to get a knotty tax problem resolved If the In ternal Revenue Service says you ought to know about a special office that can The Problem Resolution Program is set up to cut through barriers and help taxpayers with chronic tax pro The most common problems brought to the PRP office are com plaints about missing mixed up social security and in correct billings by IRS that Problem Resoutlon Is not a substitute for normal pro For persons who have not received their refunds should call the IRS tax information to seek If the refund is stllJ not the taxpayer should contact the IRS and ask to be referred to the Problem Resolution r Tax Continued from Page 6A enough tax liability that may mean youll have to have very high withholding for November and December to make it he About 70 percent of taxpayers already have filed one of the two new he Taxpayers could face penalties for not paying enough tax before next years filing Students also can no longer claim exemption if their total Income from wages and in terest is over The deduction allowed cannot be listed on a childs taxes If he or she Is being claimed on a parents he Now Westerner Barbershop Westerner Shopping Center Next to City Pharmacy 382Landa Introductory Offer Wet Cut NOW WittiBlowOry Only Eipires Regular Cuts Hair Styles Hours thru 9 am 6 pin 9 3pm KNOW YOUR SPEED LIMIT 65 Maximum legil for buses ind light of InttriUti designated high SPEED LIMIT 55 iJI the mmm legal erttiid in mgst hi Jtt to your nfity Different Sale Items in Different But All Stores Are Loaded With Budget Many Not Mentioned Hurry in Today for Best Selection DISCOUNTS OFF REGULAR PRICES AND APPLY TO SELECTED ITEMS ONLY j NATIONWIDE HMIIMIHMHHRi EXCITING RADIO VALUES 20 to 33 OFF COLOR TVs MONITORS CUT 30 to 37 ANSWERERS AND PHONE ACCESSORIES 12 53 OFF COLOR COMPUTER SOFTWARE CUT 50 90 PORTABLE CD TAPE DECKS RECEIVERS 29 60 OFF Oar Stereo y Realistic ff 19W Month channel Jeff bass and wide dynamic Digital CAR 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