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This newspaper page contains 5 articles. Subscribers can read the full text of each article.
Newspaper
Biddeford Saco Journal
Location
Biddeford, Maine, United States of America
Date
May 01, 1976
Page
4
A Conference Board study shows inflation erodes purchasing power, with a four person family needing 19000 today to match 1960's 10000 income and higher tax burdens intensifying the effect. Inflation accounts for about two thirds of lost earning power across income groups, challenging the view that small inflation aids the economy.
A New York Times piece depicts a Democratic rally where Hubert Humphrey pushes for sweeping changes and unity while leaders and attendees chant amen in an ironic revival of party loyalty. The scene features figures like Mayor Daley George Meany Louise Day Hicks and Governor Brown in a satirical examination of politics and power.
Washington report reveals the Cost Accounting Standards Board quietly proposed 413, then 414, risking hundreds of millions in inflated asset depreciation. Contractors would gain, taxpayers pay, and experts uncover the fine print is to blame. CIA files on Post figures noted in Washington Whirl raise further concern.
George F. Will notes Edward Kennedy's April 15 letter urging readers to consider a New Republic editorial on tax expenditures. The piece explains tax provisions that forego revenue to influence behavior, cites mortgage deductions, and predicts costs rising toward over 100 billion dollars next year while defending bond interest tax exemption for state and local governments.
A letter from the Nicaraguan ambassador defends the Managua By-Pass plan and denies bribery claims against the Somoza government. He argues the by pass serves over 100000 residents and outlines public ownership, tax considerations, and tender processes under IDB supervision.
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