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Newspaper
High Point Enterprise
Location
High Point, North Carolina, United States of America
Date
Sep 15, 1971
Page
4
President Nixon shoulder advisers warn that within two decades Germans and Japanese could overtake Americans in wealth if trends continue. They note rivals invest in economic development, while U.S. policy favors diplomacy over protecting economic growth and seek to move the economic section out of the State Department.
President Nixon proposes a 10 percent investment tax credit for business for one year, a 5 percent credit from August 15 1972, repeal of the 7 percent auto excise tax, and early individual income tax cuts. Analysts call it a Santa Claus year with larger breaks expected, amid rising deficits and warnings from conservative outlets.
A citizens group plans to revive school prayer as an election issue in 1972. Ohio housewife Mrs. Ben Ruhlin says billboards and newspaper ads will publicize Congress members she calls obstinate, hoping broad public support will influence votes.
A century of signs suggests U S colleges faced eerie tranquility in 1971 72 while surveys show rising voter intent among students and worry over issues from pollution to job prospects. Experts warn that calm may mask enduring anxieties and financial strain on campuses nationwide.
Senator John Stennis and Senator Charles Mathias introduced a bill to preserve special schooling benefits for a war hero’s son after his father died earning a posthumous Silver Star. President Nixon signed the measure. Separately, IRS secretly granted a $15.8 million tax break to shoe merchants, suspending 1,897 cases and signaling broader windfalls through corporate stratagems and tax loopholes.
The report notes IRS task forces halted further prosecutions of brother sister tax schemes including shoe companies after confidential memos. It alleges shifts in policy to shield industries while field agents review 6895 tax forms. Also described are Army facsimile editions of Stars and Stripes and Yank distributed to posts worldwide amid library budget cuts.
Jack Whaley of Furniture Production lauds the Southern Furniture Exposition Building open house for its 50th anniversary. More than 20,000 visitors from Virginia and the Carolinas viewed furniture, with many orders placed. Henry Foscue and Leo Heer praised for making the event possible as others noted strong demand and orderly crowds.
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