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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - June 13, 1974, Lethbridge, Alberta 1U _ THE LETHBRIDGE HERALD Thursday, June 13, 1974 Wave of strikes cause explained WASHINGTON iAPi-The end of economic controls combined with inflation has led'to a wave of strikes across the United States and large wage settlements in the construction industry Administration officials said the increased strike activity was to be expected with the end of wage-price controls on April 30 In the week ending June 6. federal mediators were involved in 523 strikes affecting nearly 310.000 workers, a 15-year- high for that week In San Fransciso pipelliters recently won a wage increase of more than 20-per-cent in a one-year pact, raising their hourly wage by Carpenters in the Poughkeepsie, N Y area received a two-year settlement boosting wages and fringe benefits by 50 to an hour Commenting on the increase in strike activity, chief federal mediator W J. Usery said the reason is simple. 'Workers want more They feel they deserve more THE FINEST RETIREMENT AND RECREATIONAL COMMUNITY Blind Bay B C 50 miles east of Kamloops on Trans Canada. Please mail me a free brochure NAME ADDRESS PHONE LH Tax column Tax legislation put forward By Eye opener Postmaster General Andre Ouelett (background) persues a new issue of stamps, shown in Montreal yesterday, honoring the postal employee. The stamps bear likenesses of letter carriers and inside em- ployees. They went on sale across Canada Tuesday. QUALITY DENTURE CLINIC EDDY DIETRICH Certified Cental Mechanic Capitol Furniture Bldg. PHONE: 328-7684 HAS SPECIAL CLOCK The U S state department has a clock, made in 1776, that chimes six different tunes, in- cluding a Handel minuet. In the near hysteria that seems to have seized many provincial Finance Ministers in these days of economic uncertainty, some of the most poorly conceived and badly drafted tax legislation has been put forward in haste. Unfortunately, much of it has or will soon become law The unwise federal air ticket tax (withdrawn) British Columbia's disastrous mining tax (still in legislative limbo) Saskatchewan's heavy resource royalty tax. Manitoba's unprecedented principal Mineral Royalty Tax Act are current exam- ples of ill-considered tax statistics which are emotionally rather than rationally inspired The poten- tial effects are at best dan- gerous, at worst devastating. Into this class falls Ontario's misnamed Speculative Profits tax Misnamed, because specu- lators will pay only a small part of the tax. while the or- dinary taxpayer will feel the real brunt 'More than one jaded observer has already advanced the argument that the name of the act was chosen for cosmetic appeal Come see Polaroid's remarkable SX-70 Land camera demonstrated Come have your picture taken free and see the rest of Polaroid's full line of instant picture cameras. We invite you to come in and see Polaroid s remarkable SX-70 camera system demonstrated and have your picture taken free And while you re here see the rest of Polaroid s full line of instant picture cameras One is oriced just right for you rather than in an attempt to describe its essence. No matter how manfully the Ontario Legislature struggled to perfect the Bill, regardless of its noble intent, it is a classic example of how not to present tax legislation As originally drawn, the On- tario Speculation tax was the epitome of bad law-a reminder of the danger of using a shotgun to shoot a mosquito. Notwithstanding the amendments resulting from Opposition debate, it is still very questionable in- deed The alleged objective of the act which passed this week was to stamp out speculation in land, in order to restrain the price increases, which normally accompany each sale of land. The technique is to slap a flat 50 per cent provincial tax on each profit made on a land sale This, coupled with the federal tax would take nearly 100-per- cent of a 11 profits thus creating a disincentive for anyone to invest in real estate for gain. By the time the Bill hit the floor of the legislature, its original high sounding motive was clearly lost in the jungle of legalese the government chose to use in expressing its intent. The Bill was defective at al- most every turn It not only taxes speculative land traders, it taxes farmers, investors, businessmen widows and orphans on even inflationary gams in the value of their property. It taxes anything that moves-leases, options, shares-anything that increases in value because of its relationship to real estate What's worse, whatever the legislative draftsman couldn't think of. he provided that the Cabinet, without the bother of having to account to the elected representatives of the people of Ontario, could pass by regulation "Not bad at all. if one believes in abrogating the democratic fundamental of -'no taxation without representation "The power to make regulations, in the privacy and secrecy of -the Cabinet meeting room is fnghteningly broad The government reserved unto itself, not the courts the right to reduce or eliminate the tax where it felt the impact was too tough What yardstick will it apply here'' As well, the Cabinet is empowered to designate certain land to be free from the tax It can tax refunds at its will and even has the power to pass regulations which define what the words in the act itself are to something normally done by the courts. It is shocking that so much discretionary power to tax, or not to tax, 'or to show bias and favoritism was put into law. Discretionary taxing powers are always odios. Leaving aside the unfortunate form of the law, there are many inequities, anomalies and loopholes. The opportunities for avoidance are at least as plentiful as the chances of some unfortunate taxpayer being hit with a whopping and unexpected tax bill SX-70 This electronic camera does virtually everything for you. Now you can almost wish lor the picture and have it. Just focus and press the red electric button. A startlingly beautiful picture develops itself in light before your eyes without mess or fuss or anything to throw away. You can take instant photographs of clarity and bnllancc unmatched b> am other system in amateur photography. Colorpack 80 Set 00 The Model 420 1 he least of Polaroid's fold- ing cameras. 1 akcs big 3'4 instant color or black and white pic- tures. Uses the I-ocused Flash svstcm that the right amount of light for each shot. It's automatic as focus Electric and electronic shutter for all other shots. I here arc other cameras in the 4OO line to choose from, each with a special combination of features and 55 00 lil-n i r-jcaj''4 j -VHPI color DIG" ..T'- TltTJ 1 COUpOri r'T c, ulso lOwS y'OJ s 40 00 Polaroid Colorpack Land Film TYM-- 10S 1YH SS Get your Polaroid Instant Picture taken FREE and while you're here, see the full line of fine Polaroid Land Cameras. A Polaroid Camera Girl will be at Anglo from 11 a.m. to 5 p.m. on Saturday, June 15th PHOTO per p.jck per p.ick For example, the law pro- vides that where there is a sale of 50 percent or more of the shares of a company in which 50 per cent of the assets consist of real estate, the real estate will be deemed to be sold (even though it wasn't) and the tax will be payable, even though there is no cash available Pity the minority shareholder who didn't sell anything, didn't make anv profit, but has his companv become liable for tax simply because control of the company changes The very sophisticated will seek to avoid the tax by estab- lishing a string of companies outside of Ontario which are beyond the reach of the Queen's Park laws. They will trade extra-provincially in shares, now land, and may avoid the tax. More important is the ques- tion of whether or not the object of the law will be achieved, i e. to reduce the cost of real estate. Early indications are that less property will be sold, thus creating a shortage of supply, which will drive prices up enough to cover the provincial tax In the process. Ontario may become a less attractive place in which to invest because of a tax on what is in many cases an inflationary gain in the value of property. (Mr Asper is a Winnipeg lawver) Ballet star falls ill MOSCOW (AP) Ballet dancer Valery Panov fell ill in Leningrad on Tuesday and may postpone his departure troin the Soviet Union until Sunday, a close friend reported. Panov still planned to pick up today the exit visas for Israel which the authorities promised would be ready for him and his wife, the friend said But his poor health and the mast, ot paperwork he encoun- tered when officials cleared the way tor his long-sought emigration have led the former Kirov star to consider leaving Sunday instead of Friday as he first intended, the friend said Panov. once the lead character dancer with the famous Kirov ballet company, applied for permission to leave for Israel 26 months ago. He was dismissed from the company and officials refused to let him leave until last week he was told all objections had been lifted ROTO TILLERS 5 horse belt drive....................2.29 3 horse chain drive 2.25 LAWNMOWERS All kinds available at Southern Alberta Co-Op 1221 2nd Awe. S. Phone 329-0017 Mce weather for Ducks. When it conies to your favourite Andres Duck, pleasure knows no season. Andres Cold Duck, a beautiful blend of champagne and Or Andres Baby Duck, the happy marriage of a robust, red wine to a delicate, sparkling Whatever the weather, now's the time to get quacking. UN IN I It> "I MM AIM SPARKLING BABY DUCK ;