Watson Tax Plan Blasted Before California Tax Hearing
W R Currie chief financial economist for the State Department of Finance warned at a Los Angeles public hearing that a one percent property tax measure on the November ballot would cost California about 850 million dollars annually and force state taxes higher as costs shift to the state. He said by 1973 74 the bill could reach 4.5 billion, prompting a potential sales tax and income tax rise and cigarette tax tripling, and warned the commission could be scrapped if Watson's proposal passes. Several speakers urged curbing exemptions while endorsing withholding of state income tax for easier collection. officials forecast substantial revenue gains from such a system.
MENTIONED IN THIS ARTICLE
W. R. Currie
State Department of Finance
Currie
Advisory Commission On Tax Reform
Los Angeles
California
Phillip E. Watson
Houston I Flournoy
Watson
Commission
Franchise Tax Board
Crawford Thomas
Tax Board
Piccard to Balloon Over Tivoli Gardens Denmark
Donald Piccard grandson of Auguste Piccard departs Costa Mesa for Copenhagen to ascend in a balloon over Tivoli Gardens as part of Denmark’s 125th anniversary. Piccard 40 has ballooning lineage including father Jean Piccard and famed Piccard twins.
MENTIONED IN THIS ARTICLE
Donald Piccard
Auguste Piccard
Costa Mesa
Copenhagen
Denmark
Tivoli Gardens
Piccard Twins
Bandits Rob Morrie's Liquor Store at 6:10 A.M.
Two bandits robbed Morrie's Liquor Store at 919 E Broadway after entering as the clerk opened. They demanded cash totaling 75 dollars and took beer whiskey and cigarettes while threatening the clerk with a .22 caliber revolver to his neck.
MENTIONED IN THIS ARTICLE
Morrie
E. Broadway
County Employment Sets July Record
Los Angeles County posted a July employment peak with 3,091,000 people employed, up 81,000 from a year earlier. Unemployment fell to 144,440, the lowest July figure since 1959, with most gains in service industries driven by federally funded youth programs and a drop mainly among young jobseekers. The seasonally adjusted unemployment rate remained at 4.2 percent.
MENTIONED IN THIS ARTICLE
Los Angeles County
Erally
L A Council Rejects New Tax Measures
Los Angeles City Council killed two revenue plans meant to avoid higher property taxes by 36.4 cents per 100 dollars. They also defeated a $3 monthly sanitation charge and a 1 percent local sales tax hike. The package included $1 million cigarette taxes and $6 million alcohol taxes.
MENTIONED IN THIS ARTICLE
Los Angeles
Book submission instruction to contact executive editor
Readers are advised to call 435 4811 between 8 00 A.M. and 10 00 P.M. to discuss a manuscript or write to Editorial Director P O Box 2119 G P O New York N Y. Leave name and address for a later appointment.
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P.O. Box
G.P.O
New York
N.Y
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Economist
Piccard
Tustin Ave
Jean Piccard
Woody’s
Peter Weinberger
Fed
L.A. Council
Long Beach
Apple Valley
Apple Valley Ranchos
Reserve Oil and Gas Company
Golden Land
Roy Rogers
Apple Valley Inn
Roy and
Dale
Las Vegas
iHolidays
Denny's
BankAmericaid
West Ward
Las Vegas Blvd
Stardust Hotel
Riviera Hotel
Palm Springs
Palm Canyon
San Diego Westwood
Hotel Circle, Ph
Security Pacific Bank
Security Pacific National Bank
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