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Newspaper
Lubbock Avalanche Journal
Location
Lubbock, Texas, United States of America
Date
Jan 06, 1967
Page
9
Taxable versus nontaxable income is explained with examples. A life insurance dividend is not taxed as it is a partial return of premium. Stock dividends are taxable as earned income. The piece lists sources fully taxable, fully nontaxable, and partially taxable with a teaser for later chapters.
Local society notes highlight events and engagements in Lubbock Texas with social columns and brief notices reflecting community happenings on a Friday morning in January 1967.
Plainview advances a 9 mile Loop 274 bypass of U S 70 and U S 87 with four lane widening toward W 5th and W 11th streets. Judge Abernethy said only four right of way parcels remain and condemnation may proceed. Officials expect multiple 1967 projects including a hot mix plant move and new Texas Highway Dept building.
Rio de Janeiro state officials report 40 dead and 50 missing after a weekend rainstorm in the mountain town of Sodrelandia about 60 miles from Rio de Janeiro.
Sen. Richard B. Russell calls for a naval blockade of Haiphong to curb North Vietnam, arguing the U S policy risks American lives for public opinion. He compares the idea to Kennedy's Cuba block and ties it to broader de escalation talks and bombing standoff.
Washington leaders plan to lift the federal debt ceiling, aiming to raise it by less than eight billion dollars, before mid February. They expect no tax hike this year, though President Johnson could shift priorities if he proposes a bigger levy to curb the Vietnam deficit. The fiscal year ends June 30 and April tax receipts loom.
Mayor W D Rogers Jr accepted a 34040 05 check as an adjustment on the City of Lubbock workmen s compensation policy. An insurance official called the operation relatively successful and accident free. The safety department was lauded and over ten years net returns of 175040 05 have been presented under the program.
Texas officials warned of risks from slow adoption of innovations as public schools face a decline in numbers. Glenn Ivy, head of the Governors Committee on Public School Education, warned districts may contract with corporations to operate schools. He noted a 30 year lag between discovery and adoption and floated the idea of private or corporate schooling, especially in the Midwest. The group, meeting with the School Administrators Advisory Conference, outlined six goals for evaluating and improving Texas public education.
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