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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Feb 19, 1971
Page
4
The Nixon plan to lift the economy hinges on higher spending and lower saving. Experts say a savings drop from 7.3 to around 6 percent could add 8 to 10 billion dollars to GNP, aiding recovery but likely not reaching the 1,065 billion target without greater money supply growth.
President Nixon directs John Connally to overhaul federal taxation with a value added tax and broad reforms. The plan aims to cut taxes for business and individuals while boosting revenue, easing property tax burdens, and funding revenue sharing. Congress faces a late 1972 debate as debt limits rise and bond buyers shift to tax exempt issues.
An investment manager notes that even with higher unit sales and price boosts, profits from smaller model cars lag behind standard models. He cites costs of promoting new products and estimates auto company net profits for 1971 will barely surpass 1970, with small cars rising to 40 percent of sales per Detroit forecasts.
North American Newspaper Alliance reports Kansas weighs creating an ombudsman post to listen to complaints amid political talk and public service disputes. The piece riffs on public figures and everyday quips from Bill Vaughan’s column.
The first half year under New York's liberalized abortion law saw about 69,000 abortions nationwide, 11,500 monthly in New York City. Maternal abortion deaths reached 12, seven in clinics, while births in NYC totaled 77,000, suggesting many lives altered or ended by legal abortion.
Alaska seeks a 800 mile oil pipeline from Prudhoe Bay to Valdez to supply the lower 48. Regulators admit ecological damage but push for construction while conservationists demand more research and tighter protections.
Officials of High Point College chose a new site for the $1.25 million Student Center, north of Harrison Hall, over the prior highway-adjacent plan. Architect Leon Schute will prepare drawings, with trustees meeting March 10 and expected completion by fall 1972, weather permitting.
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