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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - October 6, 1970, Lethbridge, Alberta -Tundoy, Octobtr 1970 THI UTHMIOOi HfRMD It Tax Committee Called Slave To Business Proposes Change OTTAWA (GP) New crat members of the Commons finance oommillee called Monday for retention of current top rates of tax on high-income earners and a lowering of rates for the less wealthy. In a minority report oil the committee's study of government tax change proposals, John Burton (Regina East) and Max Sateman (Waterloo) accuse the committee of being a slave to bieiness and having an with corporations, shareholders and high-income taxpayers." The committee's majority report, also issued Monday, endorses the government's white paper proposal to lower top rates of income tax to 50 per cent from 80 per cent with exemptions for all taxpayers.. The NDP report says 35 per cent of the witnesses sppearing during the committee's lengthy study represented industrial, commercial and financial associations, with 32 per ceit of the witnesses representing individual companies. Three per cent of the witnesses represented agricultural associations and twc per cent were from labor groups, the NDP said. "It is our view that the committee was all too ready to view witnesses from corporations and financial institutions as the average taxpayer and in their desperation to serve those interests they abdicated their responsibility to all Canadian the NDP report recommendations of the NDP report: NDP RECOMMENDATIONS of full capital gains except on homes, with such gains being treated the same as all other income, as proposed by the government. of 'fX credits instead of exemptions "because the latter provides greater, benefit to those in higher incomes." of all tax benefits, especially depletion allowances and other concessions, to natural resource industries. of severe limits on capital cost allowances for corporations, including costs of advertising, entertainment and convention expenses. of the 20-per-cent tax credit on corporate dividends, continuance of present tax on all corporations and DO rebate of the corporation tax to shareholders. of adequate assurances .that revenue increases will be shared with the provinces to prevent reliance on indirect and property taxes. Permitting deductions for employment expenses to be the same for wage and salary earners as for self-employed people. estates and gifts part of income, with the tax being paid by the recipient instead of the donor and special guarantees against undue hardship when small farms or. are transferred to children by parents. of top rates of income tax with lower rates for lower-income groups. new legislation to limit foreign ownership to avoid use of the. tax system for this purpose. The committee's majority report endorses the for a capital gains tax but says capital gains should be treated differently from other forms of income. The NDP report says the great mistake made by the rest of the committee was failure to communicate with low-income groups and to accept the views of the business community as reflective of the opinion of the whole electorate. This was illustrated by the committee's acceptance of the white paper proposal to increase basic exemptions rather than institute a tax credit for all taxpayers. The white paper calls for an increase in exemptions to from for single taxpayers and to S2.800 from for married taxpayers. The NDP report says this system provides a much greater benefit to those with high incomes. "A personal exemption of is v.-orth to taxpayer earning over and to a taxpayer earning is worth or in the sense that without the exemption their taxes would increase by that amount." FAVORS TAX REBATE The NDP recommends, instead, a flat tax credit or rebate to everyone. "The tax credit is worth 5200, or whatever the government decides, to all Report TTie NDP also recommends discontinuance of a 20-per-cent tax credit extended to corporation shareholders since 1M9 to compensate for tax already paid on their earnings by the firm. No rebate of any kind should be paid to shareholders, the NDP report said, to take account of tax already paid by the corporation on their earnings. The white paper had proposed the majority report system under which shareholders would file the full amount of their annual earnings before any tax, then claim an exemption the tax paid on earnings by the corporation. The NDP report says the mining and oil industries in Canada are largely American-owned. Consequently, it says, the current three-year tax-free concession to new mines should be abolished. All other tax concessions to the mining and oil industries should be withdrawn as well, the NDP report Militai UNITED NATIONS (AP) -Saudi Arabia's delegate to the United Nations is proposing that the General Assembly urge military service for men 35 to 50 in order that young conscientious objectors won't be "commanded prematurely to sacrifice their lives." Ambassador Jamil Baroxly, who is 65 and has a 17-year-old son, planned to submit the resa-lution here to the assembly's social committee. The committee is discussing ways to develop respect for human rights and fundamental freedoms in young people. Baroody told reporters delegates from the smaller countries have commended his pro. posal but the big powers were cool to it. Tlie resolution calls on UN members: refrain from coercing any youth to join the armed forces of his country if such youth conscientiously objects to being involved is the act of killing." to enlist in the armed forces those youths who volunteer strictly to defend their country from flagrant aggression." PERSUASION PREFERRED The text does not make clear whether the reference to Age leers is intended to rule out conscription entirely. But it urges member countries "to prevail upon adults between 35 and 50 years of age to enlist in the armed forces for legitimate self-defence." The resolution also: "mothers and other women of all nations to play an effective role in formulating national policies concerning war and peace." that governments "study the feasibility of a referendum of the people, including youth, before declaring or waging war." scientists "to explore effective ways and means for preventing the use of their inventions and discoveries for destructive purposes." that every nation "consider establishing a ministry for the affairs of youth." Is Out: Lee, Not Ethel, Pushed RFK NEW YORK (AP) Everybody thought it was Ethel Kennedy who pushed Arthur Schlesinger Jr. into that swimming pool at the Robert F. Kennedy home during the Kennedy administration, but Time magazine says actually it was Lee Udall. At the time, her husband Stewart was interior secretary and historian Schlesinger was a presidential aide. Time quotes Mrs. Udall as saying: "All these years Ethel has been taking 'the rap for me. I'm the one, who pushed Arthur into the' pool. I was dancing by and he was standing there holding forth arid looking so Arthurish, and something came over me. I just 'stuck out my arm and pushed him in and danced away. He never Toronto Paper TORONTO (CP) The Telegram announced Monday it is closing its Moscow bureau. In a special front-page statement, The Telegram, for nearly six years the only Canadian newspaper to maintain a Moscow correspondent, says the decision was prompted by "a vari-. ety of official pressures and problems" faced by three reporters. Peter Worthington opened the bureau in 1965. He was replaced two years later by Aaron Bureau frank, now the newspaper's Washington bureau chief, who was expelled from the Soviet Union last year by Russian authorities. The Telegram says Marq de Villiers, who succeeded Mr. Einfrank, is being withdrawn after being "formally reprimanded and accused of damaging Soviet-Catiadiau relations." The Canadian Press, national news-gathering and distributing co-operative, shut down its Mos. cow bureau two years NEW TEST OTTAWA (CP) A new pregnancy test for a wide range of domestic animals has been developed by an agriculture scientist. Dr. Hamish Robertson of the animal research institute says the test, which measures varying progesterone levels in animals, will determine pregnancy -within three weeks of breeding for such ani-. mals as pigs and Himself BRUSSELS (AP) A 60-year-old man poured gasoline and burned 'himself to death in the centre of one of this city's busiest thoroughfares, police .said Monday. The suicide by fire took place in the Brussels suburb of Koekelburg. Police did not disclose the name of the dead man. UNITED MOTORS co. LTD, Corner 3rd Ave. and 3rd St. S. Phone 327-2805 "YOUR AUTHORIZED AMERICAN MOTORS DEALER' INVITES YOU TO ON DISPLAY IN OUR SHOWROOM TODAY OPEN TILL 9 P.M. EVENINGS OPEN HOUSE WILL BE OBSERVED ALL WEEK! American Motors 1971. At American Motors we feel that in our 1971 product line, we've achieved our major objective. That is, to build a complete line of cars for a broad range of car buyers. Sports, sub-compacts, compacts, intermediates, full- sized cars... we've engineered them all with one thought in mind that every car represent real, demonstrable value in its size and price range. I invite you to see and drive the American Motors car which comes closest to fulfilling your requirements. See if you don't agree with us whenwesay: "We give wheels to greater X President, American Motors (Canada) Limited. Matador is the best value bar none in the mid-size field. Matador gives you more car for your money. With its headroom, hiproom, leg- room and 118 inch wheelbase it's the biggest car in the mid-size class. For power there's a choice of 13 great teams made up of sixenginesand 4trans- missions. That way a Matador can be an economical carorafull-blown muscle car. If you've got a practical nature that likes a little excitement, you'll find Matador your kind of car. Sportabout American Motors builds the only North American compact wagon. Sportabout is a 4-door station wagon that has top-of-the-line features as standard equipment and slant back styling that sets it apart from any other wagon. The big window tailgate swings up to simplify loadingand unloading. And on the inside plenty of room for a family on the go. beayti- ful new addition to the Hornet family. American Motors Fl Giving wheels to greater value. UNITED RAMBLER LIMITED 302 3rd Avenue South Gen. Office 328-8332 Service 327-2750 CARDSTON ;