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Twin Falls Times News Newspaper Archives Nov 21 1982, Page 1

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Times-News (Newspaper) - November 21, 1982, Twin Falls, Idaho Canyon debate gobblers the care and feeding Turkey to table Leona Aslett has fallen in love with a Canyon Al 77th 325 twin Idaho november times news whooping it up the Bruins allow themselves to indulge in a bit of pos game jubilation saturday after besting Borah 4320 in Al semifinal it was the first Victory Over the Boise school in the Bruins a Story and More photos of the big win Are on pages cd gain from tax break by buying municipals by Elmer United press International Washington americans with annual income greater than get More than 94 percent of billion in Federal tax Breaks Localise interest on state and municipal Bonds is not Treasury department figures released saturday the break for holders of the tax free comls is just one of Many tax credits that Benefit the affluent under current tax Henry suggested in releasing the Treasury chairman of the joint economic called the analysis an important contribution to the new drive for Broa based income the Reuss shows that some Revenue losses resulting from tax Breaks provided under existing Law have exceedingly regressive impacts on our tax the Treasury study ranked the exclusion of interest on state and local Bonds As the most regressive Revenue loss because taxpayers with income of Over a year get percent of the according to the High income taxpayers also get More than 63 percent of the billion in taxes lost to the Treasury due to a tax break on Lon term capital gains on other than Home whee Che study indicated that these and certain other tax credits Benefit High income taxpayers More than they do not result in the biggest tax losses to the Federal the biggest about comes from the exclusion of pension contributions and earnings from Only 26 percent of the benefits from such tax savings go to High income the second biggest loss in tax comes from the deductibility of mortgage on owner occupied the More affluent taxpayers get 30 percent of the benefits from that tax according to the Reuss said the study was the most current and thorough analysis of Revenue losses resulting from 33 separate deductions and other tax credits provided for under existing tax my decision sets course of National defense by Richard Gross United press International Washington whatever president Reagan announces about the Basing of the new my missile he will seek to set a nuclear strategy for the nation to follow into the next it is a momentous decision that May involve the expenditure of tens of billions of and its Gravity is reflected in me number of studies and manpower resources Over the past 20 months committed to the problem of finding a Home for the 10warhead at stake is the future of the decade sold commitment to a triad of nuclear options to be unleashed in the event the soviet Union launches a first strike against the United analysis states land based missiles aboard bombers and submarine launched reagans decision could determine whether americas nuclear deterrent capability will continue to stand fast on this doomsday the believing its present Fleet of land based missiles is growing says the new my is necessary to ensure capability to retaliate after a soviet nuclear after several false starts by presidents Carter and Congress set a 1 deadline for a decision on How to base the Reagan plans to make his announcement ahead of Congress must approve his Basing the United under a billion strategic modernization already is committed to the billion bulb bomber and radar elusive stealth bomber to follow it by the Early 1990s and is developing a new generation of submarine launched the Pentagon has been Adamant in arguing Only land based missiles can pack the punch and have the stability to make them a viable it is can be shot Down and submarine launched missiles do not have the pinpoint accuracy of their landed Brethren even though military specialists agree submarines Are the most survivable leg of the the air Force and other official sources have been saying for weeks Reagan has Little Choice but to pick the closely spaced Basing plan known As dense pack because some 30 other options have proved at least on the estimated billion dense pack plan is what it sounds like crowding the missiles so densely that the heat and nuclear particles kicked up by the first exploding soviet missile directed at the Field will destroy or deflect other approaching critics of the plan say it will not work because the soviets can devise a variety of methods to counter in 100 mrs would be buried in canisters that would be super hardened to withstand pressures of to pounds per Square by the minuteman missiles can survive blasts of up to pounds per Square the missile Field would be 14 Miles Long and a mile wide and would be attached to an air Force base in Nevada or new putting the missiles in canisters instead of silos would enable the United states to get around provisions of the soviet american strategic arms limitation treaty that prohibit the construction of additional the my is designed to replace the Titan 11 the first of which already has been dismantled at a base in there Are 51 More titans and another minuteman us and All based West of the Mississippi Brezhnev death Chance for fresh Start by Kirsten Linoberg United press International Moscow the death of president Brezhnev has Given Washington and Moscow an unexpected Opportunity to reexamine their relationships and ease away from the confrontation politics of recent but diplomats cautioned that there is a Long Way to go before overtures Are translated into As the three Powers play the game of extending Friendly feelers without giving each other any unearned at the much of the future development in these relations and its definitely a triangular relationship depends on the next step the United states one analyst officials used the funeral ceremonies for Brezhnev last week to arrange meetings Between leaders that ended on a note of cautious three months such High level Contact would have been out of the the first was Between new communist party chief Yuri Andropov and vice president George with Secretary of state George Shultz also on the afternoon of the it was the first such meeting on soviet soil since president Gerald Ford met Brezhnev in Vladivostok in 1974 and the highest level session anywhere since Brezhnev travelled to Vienna in 1979 to sign the Salt ii agreement with Jimmy Bush called the half hour meeting cordial and and the soviets seemed to be likewise they have a sense of said one Diplomat who talked with soviet officials after the although its All theres no indication the issues have changed or Are going the pos funeral meeting Between chinese foreign minister Huang Hua and soviet foreign minister Andrei Gromyko lasted nearly twice As Long As that Between Andropov and the signs of a thaw that began during three weeks of unofficial negotiations in october continued when Andropov singled out Huang for a Chat during a reception following the Huang later met with foreign minister Andrei the highest ranking chinese to visit the soviet Union in 18 resigned his Post the Day after he returned to peking but Western observers said the move had nothing to do with his visit to Brezhnev seemed anxious in the last six months of his Rule to Patch up a 20year rift with the and the new regime is clearly of the same it was Only after Brezhnev that the chinese publicly conceded were in favor of a Huang said on return to peking that he was optimistic about improving relations with major areas of conflict still China considers it vital that soviet troops be withdrawn from Afghanistan and along the sino soviet it also wants Moscow to deny support to the soviets do not seem ready to take such actions but there May be Token gestures in the the dialogue continued All week some 250 american businessmen consulted with their soviet counterparts in the Trade meeting for the first time in four prime minister Nikolai Tikhonov offered the United states a Chance for better relations built on the Bedrock of improved Trade provided Washington stops using Trade As a political embargoes and sanctions do not inspire kindly but rather undermine the Confidence of soviet foreign Trade organizations in the american under such it is hard to expect a substantial growth in Tikhonov merchants count on Christmas spending byte Velikson time news writer twin Falls some area merchants Are nervous that the upcoming season to be Jolly will see sales no higher than last and that might even prove to be an optimistic forecast for christinas the consumer has not been spending his says Rich Ard the chief economist in the states division of financial despite the Federal income tax Cut that took effect in increases in savings and the substantial amount of debt that Consumers have paid off during the last they Lack Confidence to increase their he the National data indicate Consumers Are in very Good he on the other a lot of them Are out of some forecasters believe the Christmas on Page a2 Good magic Valley opinion people sports Valley sunday crossword As food

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