Reagan Tax Cuts Begin To Reach Paychecks Tonight
The federal government starting at midnight will begin a new fiscal path under President Reagan with broad tax cuts and spending reductions. About 100 million workers will see a small rise in weekly take home pay, while the long term effects on the economy are projected to unfold over the coming year and beyond.
MENTIONED IN THIS ARTICLE
Michael Putzel
Associated Press
Washington
Reagan
Regan
David R. Gergen
Gergen
Small firms rally in protest over high interest rates
Chicago small business owners led by Bill Hoverman of General Body Co protest the economy by lowering a flag to half staff. Hoverman says orders fell over 25 percent in a year, forcing layoffs. He joins other executives blaming high interest rates for squeezing credit and demand, warning of broader hardship.
MENTIONED IN THIS ARTICLE
Chicago Sun-Times
Chicago
Bill Hoverman
Hoverman
Hoyerman
General Body Co
Bill Hoyerman
Paul Francis
Leeco Steel Products
Selective Service
Congress
Jepsen
Turnage
Armed Services Committee
The Environment group and its unique atmosphere
The Los Angeles Times profiles The Environment, a group led by Firestone and Joyce Catlett, discussing their book The Truth, A Psychological Cure and their open meetings. Members range in age and income, with varied professions and businesses under DJC Corp. Non members describe the positive, energetic workplace culture and disciplined work ethic.
MENTIONED IN THIS ARTICLE
Firestone
Barry Langberg
Carol Burnett
Bob Zass
DJC
The Environment Lives On A Friendship Oriented Group
Firestone and 13 associates formed a living circle after world sailing and refitting a schooner. They bought an apartment to create a shared home, seeking close friendships over privacy. The plan faces change as the owner converts the building to condominiums and members must move.
MENTIONED IN THIS ARTICLE
Kevin Jackson
Firestone
California
Ms. Catlett
Mexico
Tam
The marriage penalty and the indexing of tax brackets
The text explains how marrying couples face higher taxes under progressive rates, outlines the impact of a 3,000 deduction, and describes indexation as a solution. It cites examples showing different brackets and the effect on a family of four with a 10 percent income rise, comparing current law to indexation. The discussion notes a cost to the government from indexation.
MENTIONED IN THIS ARTICLE
Internal Revenue Service
Congress
The
Tax Foundation Inc
Washington, D.C
Justice Dept Sets Draft Registration Prosecution Guidelines
Justice Department officials outline criteria for prosecuting unregistered draftees. 108 youths’ names sent to U S attorneys and the FBI, with registered letters to violators. Potential penalties include up to five years in jail and a $10,000 fine.
MENTIONED IN THIS ARTICLE
Justice Department
Department
John Russell
U.S
FBI
Russell
Army
Thomas K. Turnage
Selective Service
Senate Armed Services Committee
Snow test at Killington amid subfreezing cold snap
Youngsters in Killington Vermont enjoy machine made snow as a nearby ski area uses overnight sub freez ing temperatures to test snow guns. The report also covers several separate military air crashes with fatalities and a political note from China on reunification talks.
MENTIONED IN THIS ARTICLE
Killington
Peking
China
Taiwan
Ye Jianying
People’s Republic of China
Weather forecast across Texas with scattered showers
Rain possible and humidity high as skies turn partly cloudy then heavier on Thursday. Highs near 90 with 20 percent rain chance, coastal plains and Lower Rio Grande Valley foresee showers. other areas remain warm with 80s to 90s. North Texas partly cloudy to thunderstorms Friday, cooler by weekend.
MENTIONED IN THIS ARTICLE
Texas
Rio Grande Valley
South
West Texas
National Weather Service
Midland Regional
North
South Texas
Also Mentioned on This Page
Treasury
Medicare
By Daniel Rosenheim
Joyce Catlett
Congressional Budget Office
Sam
Air Force
Grants
N.M
Art Dunn
Kirtland Air Force Base
Albuquerque
Nevada
Tonopah
Navy
Virginia Beach
Cmdr
Kenneth Wessel
Inchon
Bonn
West Germany
Willy Brandt
Guenther Guillaume
Rheinbach
West Side
Teamsters Union
Atlanta
Joseph ‘‘Little Caesar’ DiVarco
Concord
N.Y
Avco
Panhandle
Dalhart
McAllen
Eather Service
Noaa US Dept of Comm
Abilene
Alice
Alpine
Amarillo
Austin
Beaumont
Brownsville
Childress
College Station
Corpus Christ
Datnart
Dallas
del Rio
el Paso
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