Kluge backs higher taxes for the rich in capital gains plan
Virginia financier John W. Kluge, Forbes richest American, urged raising the top income tax rate to 33 percent as part of a package with a capital gains tax cut to reduce the deficit and boost investment. He spoke from Metromedia in New York.
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Economy under siege says US Chamber chief
Richard Lesher, president of the US Chamber of Commerce, says the White House faces a widening rift over economic policy. He criticizes tax-heavy budget plans, foresees a six-quarter recession, and urges energy exploration offshore and in Alaska to revive growth while warning against emotional environmental objections.
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Germantown Man Wins Car At County Fair Drawing
Mark Shekletski of Germantown won a new car in a nightly drawing at the Montgomery County Agricultural Fair. Present were fair board president Robert N Stabler, manager Jack Rowlinski, and others. Other $300 nightly drawing winners included Cindy Collins and Sherry Delauder from Gaithersburg, Hugh Warner of Frederick, Jimmy Witchcock, and Kermit Stewart.
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Grain futures drift in Chicago with mixed bids by Dec
Chicago Board of Trade futures show mixed moves across wheat corn and soybeans. December wheat touches 283 but reverses to 265 with later 262. Corn shows around 229 to 253 while soybeans hover near 124 to 136 as bids and opens vary. Trading activity lists sales opens and open interest with muted shifts.
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