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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Jan 30, 1976
Page
4
A new exemption credit for 1975 income tax returns offers up to 330 per eligible person. Unlike a deduction it lowers the final tax bill rather than the taxable income. The credit reduces tax due but does not create a refund. it is built into withholding tables and claimed on Form 1040 Line 16b after standard tax computation.
Wallace argues welfare fraud drains billions yearly and urges curbed foreign aid, while faulting liberals on unemployment and inflation. He supports dialogue with the Soviet Union and detente backed by military strength, warns against arms reductions, and seeks use of U S farm efficiency in bargaining with oil exporters.
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