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Newspaper
Terre Haute Tribune
Location
Terre Haute, Indiana, United States of America
Date
Jun 08, 1962
Page
11
President Kennedy proposes a January 1 tax cut to boost wages and industry profits. Advisers discuss a five billion dollar net reduction in the package, with debate on whether to shrink or expand revenue loss. The plan originally included a top-to-bottom rate cut for individuals and corporations.
President Kennedy shifts from a reform bill to a tax cut package aimed to take effect within six months and three weeks. The plan, influenced by stock market volatility, will be sent to Congress in the coming summer, potentially quashing calls for an emergency quickie cut.
Vigo Circuit Court Probate Division schedules final account hearings for the estates of Ella May Tiedman and Fronia Criss, with executors Leonard P. Kincade and Paul L. Asbury. Notices announce bids for Vigo County School Corporation TV antennae installations and receivers, non resident divorce notice for Ethel Mae Stuart, and administrator appointment for Thomas A. Ray. Clerks and attorneys named. deadlines in June and July 1962.
The article outlines a broad tax reform aimed at boosting after tax pay and corporate profits within months. It discusses possible top rate reductions from 91 to 65 percent, lower corporate tax from 52 to under 50, and lower basic rates to 16 or 18 percent, along with depreciation allowances and a major deficit risk. It notes labor management cooperation as essential and recounts Kennedy’s two sided strategy to curb inflation while enabling modernization.
Rotary Club will host Dr Walter E Marks chair of physical education at Indiana State College as guest speaker next Tuesday. He will discuss Physical Fitness at the Terre Haute House luncheon meeting.
The population of Great Britain has risen by more than 4.5 million in the last 125 years, reflecting long term demographic expansion driven by shifting birth rates and mortality patterns.
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