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Newspaper
Preston Citizen
Location
Preston, Idaho, United States of America
Date
Sep 20, 1956
Page
12
Idaho reports an August outbreak of equine encephalomyelitis with 54 cases to date, mostly in horses. Health officials urge horse vaccination, mosquito control, and insecticide spray in chicken houses to limit human risk, noting there are no human vaccines.
The Farmers Home Administration expands authority to loan funds for operating and developing family type farms and refinancing debts. Loans up to 50 million yearly insured, initial operating loans up to 10 thousand per borrower, terms up to seven years, and real estate development loans up to 40 years with varying rates. Emergency financing also extended to 65 million, with rules for eligibility and income adequacy.
A local official argues water management and individual spraying can largely eliminate mosquito problems around residences and farms. The strategy emphasizes clearing standing water and targeted insecticide use to reduce breeding sites and nuisance.
A discussion of the 1913 federal income tax origins and the sixteenth amendment notes how rates have grown. It explains the basic 20 percent levy, then progressive surtaxes from 2 percent to 71 percent, and illustrates with a $6 000 income paying about a third in taxes.
The article notes that about half of federal revenue comes from taxes, with corporations paying a basic 30 percent on the first 25 000 and 52 percent on income above that. Individuals owning corporate stock face double taxation on profits and dividends, while the 1954 tax law exempted the first 50 dollars of dividends for singles and 100 for married couples, amid concerns over heavy taxation.
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