No Taxes on 10 Giant Firms Report
A staff study from the congressional joint committee finds 10 of the nation’s largest corporations paid no federal income taxes last year despite nearly $1 billion in profits. Included are UAL, TWA, Consolidated Edison, American Electric Power, Freeport Minerals, Texas Gulf, Western Bancorp, Chemical Bank, Bankers Trust, and Continental Illinois, with others showing tax rates from 0.05 to 9.9 percent. The study notes a 23.6 percent average effective tax rate across 143 firms vs the 43 percent statutory rate.
MENTIONED IN THIS ARTICLE
Washington
Congressional Joint Committe
Charles Vanik
Ohio
Securities and Exchange Commission
Vanik
House
Ways and Means
UAL Inc
United Airlines
Trans World Airlines
UAL
TWA
Consolidated Edison of New York
American Flectric Power Co
Freeport Minerals Co
Texas Gulf Inc
Western Bancorp
Chemical New York Corp
Bankers Trust New York Corp
Continental Ilinois Corp
International Harvester Co
Kennecott Copper Corp
LTV Corp
Anacondao
Occidental Petrolean Corp
Teyaca Tne
Chase Manhattan Corp
Guilt Oil Corp
Mee Donnell Douglas Corp
Standard OW of
el Paso Natural Gas Co
Mobil Oi
Univoyal, Inc
International Minerals & Chemicals
Chrysler Corp
Gulf & Western Industries
National Cash Register Co
Southern Railway
Union Oi Co
California
Continental Oi
T He
Five Months for Haircut Refusal
Pvt. Robert Nuchaw of Thankt was sentenced to five months confinement with hard labor for refusing to par a barber cut. He was fined $2269 a month for five months and reduced to the lowest enlisted rank.
Today’s Chuckle on Copyright Confusion
A fragment from a humor column hints at confusion over font height and line width as a joke about a character named Lavith in a quirky setting. The brief note mentions a constant height and a playful mock dialogue about piracy and rights.
Industry Men See Rollbacks in U S Steel Price Hikes
Pittsburgh AP report says U S Steel price increases face White House pressure and softening market. industry leaders privately expect rollbacks on some hikes as Ford questions justification. Several major producers may follow suit. only CP and Steel Co. of Pueblo have raised prices so far.
MENTIONED IN THIS ARTICLE
Pittsburgh
LU. &. Steel Corp
White House
Ford
National
Jones & Taughlin
Inland Steel
U.S. Skeep
Cal
Jobless Claims Rise and Personal Income Drops
Washington reports 693000 new unemployment claims in the first week of December, with 2.99 million already on benefits. Personal income fell 0.2 percent in November, while industrial payrolls declined 2.4 percent. deficits in the balance of payments and GM layoff projections intensify economic gloom.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department
Sayianabile
General Motors
Lawyer Sentenced in Nixon Papers Deal
Edward Morgan, a lawyer who illegally backdated the deed delivering Richard Nixon's prepresidential papers to the government, was sentenced to four months in prison and 20 months probation. Morgan pled guilty on May 8 to attempting to obtain more federal income tax deductions than were legally claimed by the former president and his wife.
MENTIONED IN THIS ARTICLE
Washington
Edward Morgan
Richard Nixon
Morgan
Nixon
Pal
Jackson
U-Wash
Congress
White House
House
Swat
Lord
U. S
Pan American World Airways
Ford
Senate
Culver Pays $8 for White House Visit Tale
Washington state congressman Culver attended President Ford’s Christmas party. Despite a ten year Senate history Culver’s first White House social event went off with a missing pocket bow tie. An $8 taxi ride to fetch it highlighted a friendly, festive evening with Susan Ford and the president.
MENTIONED IN THIS ARTICLE
Washington, D.C
John GC
Culver
White House
Congress
Ford
House
Senate
Culvert
Capitol Will
Culvers
Chevy Chase
Becca
Tle
Cedar Rapids
Harold
Hughes
Culver Lowing
Final Approval for Public Service Jobs
Washington totals show Congress authorizing 330000 public service jobs with a $5.4 billion bill clearing both houses for the Presidents signature. The measure extends unemployment benefits to workers not covered by existing programs, including farm laborers domestics and government employees. Senate action earmarks $5 billion. House action $4.8 billion, as conferees seek a quick compromise.
MENTIONED IN THIS ARTICLE
Washington
Congress
Amer
House
Senate
Ward
Ihe House
House-Senate
Damorratic
Office of Economic Opportunity
Anti-Poverty Agency
White House
Turkey
State DPI Seeks $915 Million Budget for Next Biennium
DES MOINES AP The state department of public instruction asked for 915.6 million for the next two-year period as Gov. Robert Ray opened hearings on budget requests. Major increases include about 18 million for general foundation aid to schools and 10 million for capital funds to support area school facilities. The request notes an estimated 68 million foundation aid increase in the first year due to the school aide formula.
MENTIONED IN THIS ARTICLE
Des Moines
State Department of Pubie Instruction
Robert Ray
Robert Benson
State Superintendent of Public
Islate
Linn County appoints Kopecky to direct grand jury probe
Linn County's new county attorney Eugene Kopecky announced plans to direct the grand jury in the ongoing investigations into alleged illegal activities by Cedar Rapids police officers. The probe, previously led by William Faches, has included allegations of electronic eavesdropping and other constitutional violations.
MENTIONED IN THIS ARTICLE
Linn County
Cedar Rapids
Eugene Kopecky
William Faches
Kopecky
Grand Jury
Faches
Linn
William Ads
Vounly Grand Jury
Hjntors
Wads
Richard ‘Turner
Garry Woodward
Kkupecky
Kremlin Emigration Debate Highlights Soviet Stance
Kremlin watchers argued over Moscow’s tone after Tass issued a statement and a Gromyko letter to Kissinger. Analysts framed the move as a potential rebuke or a face-saving gesture linked to a broader trade and migration deal with the United States.
MENTIONED IN THIS ARTICLE
Kremlin
Yenunevili
Moscow
Bone Saulyats Sali
Leonid Hrezinev
Senate
West
Syate Anhurnemner
Vindivostok
Kissinger
Gromyko
Jhivk Xen Tuk Agensing
Kisstinger
Amd Davksan
Also Mentioned on This Page
Lavith Hataneedd
UPI Tricehate
Secretary of
State Kissinger
Golda Meir
State Department
U.S. Steel
Bulletin Washington
Wala Vole
M.P.H
American Automobile Assn
Laxport Tinpiort Bank
Soviet Union
DPI
New Linn
Galtt
Tass
Andrei Gromiyko
Spealney
Oet
Unio
Assinyan
Derstandings
Matfirm
Jewsmi
Jon. Shacksoan
Wash
Ravestatus
Sackson
Heremlin
High Sainte Apansey
Treits
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