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This newspaper page contains 9 articles. Subscribers can read the full text of each article.
Newspaper
Hope Star
Location
Hope, Arkansas, United States of America
Date
Jan 15, 1969
Page
8
A teaching note outlines three pension and annuity types and how tax rules apply. It explains fully taxable versus tax free recovery, and shows how to calculate the tax-free portion using an example with an annuity contract, an initial $15,000 contribution, a $100 monthly pension, and actuarial life expectancy.
The article explains how an excludable portion of annual income is calculated using cost and expected return, yielding 8314 percent and $1000 excludable from a $1200 yearly amount. It notes Schedule B changes on Form 1040, features a sample in Cut Your Own Taxes, and previews a home sale piece for under 65s with a coupon for a computer-checked return.
Legislators praised Rockefeller's inaugural speech but balked at missing specifics on his 195 million tax package. Sen Clarence Bell of Parkin and Sen Morrell Gathright of Fine Bluff urged clearer reasons for a near fifty percent tax increase, while Rep Talbot Field Jr. of Hope called the speech masterful and sincere for Arkansas.
In Rome, police trapped and arrested Gesuino Casula, 29, at a bar near the University of Rome after female agents surveilled his Roman girlfriend’s apartment and the bar where she runs. Nunzia Speculatore was also arrested for aiding Casula. Casula, under sentence in absentia for warlike weapons, linked to Sardinian kidnappings, could have been tasked with collecting ransom. Nuoro’s 1968 balance sheet shows 15 homicides, five kidnappings, and police killed four bandits in gunfights, while three were captured alive.
A compiled docket from Hope and state listings shows numerous pleas of guilty and fines for offenses including drunkenness. driving while intoxicated. speeding. defective brakes. improper passing. no vehicle licenses. and possession of beer, with cash bond forfeitures and jail terms noted. Several defendants faced not guilty trials or dismissals, while others were fined substantial sums and, in one case, a six month jail term with suspended time.
President Johnson proposed a 1970 fiscal year budget of $1.7 billion for the Interior Department with increased spending on water pollution programs and Indian affairs. The plan would raise the National Park Service budget to $122.7 million and boost the Federal Water Pollution Control Administration to $305.9 million, though some offices would see smaller gains. The package also calls for social security boosts, public housing funding, antipoverty revitalization, and a $3.4 billion surplus aided by extending the 10 percent income surtax.
President-elect Nixon reiterated support for extending the 15 billion surtax until Congress and the new administration confirm the facts justify its continuation. He noted the tax should end only when economic and budget conditions permit, linking its removal to finishing the Vietnam War. Nixon spoke in Chicago and prepared in Florida ahead of his inaugural address.
LITTLE ROCK Arkansas State Senator Guy Mutt Jones rejects being called an obstructionist though he says the term may apply to the current session. He notes Gov Rockefeller now has a tax program he views as the biggest in state history and claims cooperation from the legislature has been lacking. Jones, re-elected after defeating LH Fielder, says Republicans aim to fool the public about a two party system and seek total dominator.
In a January 1969 statement Senator Jones proposed a bill to give Alabama the right to distribute liquor and beer, with the state retailing whisky and the enterprise handling beer. He cited other states with state ownership, noted Alabama’s potential 31 percent markup and $38.2 million profit in 1967-68, and opposed a mixed drinks bill while denying prohibitionist aims. He argued the plan would raise revenues and reflect national trends.
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