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1
Page 2 THE BATTALION
WEDNESDAY, DEC. 3, 1975
Withholding tax may rise
Associated Press
WASHINGTON — The chief of
the Internal Revenue Service said
Tuesday the government will re
quire employers to increase the
amount of taxes withheld from work
ers’ paychecks after Dec. 31 if no
new tax law has been approved by
then.
IRS Commissioner Donald C.
Alexander nded out any temporary
administrative extension of current
tax rates until Congress and Presi
dent Ford resolve their tax dispute
and raised the possibility that
Americans’ paychecks could shrink
in January, then expand again later
in the year.
Alexander said in a speech before
the American Institute of Certified
Public Accountants, “We intend to
be understanding when you take
good faith efforts to accomplish what
may be an impossible task,’’ but he
said the higher withholding rates
would be enforced.
For a married man supporting a
family of four on an income of
$15,000, for example, the reduction
in his weekly paycheck due to higher
income tax withholding alone would
amount to $4.73.
For a single person earning
$15,000 a year, the reduction in
take-home would be $3 a week.
And the changes would not in
clude the reduction in paychecks for
people who earned more than
$14,100 this year and no longer had
Social Security taxes deducted from
their checks after they passed that
salary level. The Social Security tax,
which amounts to 5.85 per cent of
gross earnings, kicks back in for
those people on Jan. 1.
The reason for the higher with
holding rate for federal income taxes
is the temporary tax reduction ear
lier this year as an anti-recession
move.
The taxes were written to self-
destruct on Dec. 31, and revert to
the 1974 tax rate.
Most economists, including Pres
ident Ford’s top economic advisers,
have generally decided since then
that higher taxes and the resulting
reduction of consumer buying power
could slow the economic recovery.
Both President Ford and Con-
SLOUCH Jim Earle
“We’re in favor of students having the opportunity to
select their teachers. We only hope that the students
are agreeable when the profs ask permission to select our
students!”
gress agree they want to cut taxes,
but they disagree on how to do it.
And with a congressional holiday re
cess looming within two weeks or so,
time for resolving the dispute is run
ning out.
The President has conditioned his
approval to an equivalent cut in
spending for any cut in taxes. Con
gress has contended it’s impractical
to set spending ceilings now for a
budget year which doesn’t begin
until June.
President Ford has threatened to
veto a tax bill currently pending in
the House. The bill would extend
the temporary tax cuts and add other
changes in specific sections of the tax
law, but it contains no spending ceil
ing.
i've been wondering if
V0U EVER MET THAT CUTE
LITTLE C0V0TE THAT
SPIKE TOLD V0U ABOUT...
I MET HER ALL RI6HT,
AND SHE WAS THE CUTEST
LITTLE THINS I'VE EVER
SEEN...BUT LUE HAD STR0NS
RELI6I0US DIFFERENCES...
m
Cbe Battalion
Opinions expressed in The Battalion are those of the editor or
of the writer of the article and are not necessarily those of the
university administration or the Board of Regents. The Battal
ion is a non-profit, self-supporting enterprise operated by stu
dents as a university and community newspaper. Editorial
policy is determined by the editor.
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Address correspondence to Listen Up, The Battalion, Room
217, Services Building, College Station, Texas 77843.
Members of the Student Publications Board are: Bob G. Rogers, Chairman; Dr.
Gary Halter; Dr. John Hanna; Roger P. Miller; Dr. Clinton A. Phillips, Jeff Dunn,
Tom Dawsey and Jerri Ward.
Director of Student Publications: Gael L. Cooper.
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The Battalion, a student newspaper at Texas A&M, is published in College
Station, Texas, daily except Saturday, Sunday, Monday, and holiday periods. Sep
tember through May, and once a week during summer school.
Mail subscriptions are $5.00 per semester; $9.50 per school year; $10.50 per full
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Address: The Battalion, Room 217, Services Building, College Station,
Texas 77843.
The Associated Press is entitled exclusively to the use for reproduction of all news
dispatched credited to it or not otherwise credited in the paper and local news of
spontaneous origin published herein. Rights of reproduction of all other matter
herein are also reserved.
Second-Class postage paid at College Station, Texas.
MEMBER
The Associated Press, Texas Press Association
Editor James Breedlove
Assistant Editor Roxie Hearn
Production Manager Pam Whigham
City Editor Steve Gray
Campus Editor Sandy Russo
Sports Editor Paul McGrath
Photography Director Jack Holm
1
Just thinkin’ about
those com dogs
makes you hungry.
HOURS: Sun.-Thurs.: 10 a m. to 1 a m.
Fri. & Sat.: 10 a.m. to 2 a.m.
i iui ■
People in the News
Associated Press
NEW YORK — Heavy-weight
champion Muhammad Ali has come
to the rescue of the Hillside Aged
Program.
At 9 a.m. Tuesday, the program
was on the verge of being closed for
lack of funds to serve its 54 hand
icapped elderly clients. At 9:30 a.m.,
director Maria Brown answered a
knock on the door. It was Ali.
“I understand you need a lot of
money to stay open,” Mrs. Brown
quoted the boxer as saying. “Why
don’t you stay open. I’ll give it to
you. ”
News reports had said the center
needs $100,000 for the next year and
had been unable to get government
aid. Social worker Franees Adler said
Ali mentioned that figure and a little
later raised it to $150,000. But he
wanted to know where all the people
Told they didn’t show up until 10
a.m. he waited.
When the old folks arrived, Mrs.
Brown said, “Everyone was crying.
The old people came up to hug him
and kiss him. It was very moving.
SAN ANTONIO, Tex. — Former
President Lyndon B. Johnson would
be happy that the Brooke Army
Medical Center suite where he
stayed will be used as a patient
lounge, his widow says.
“Lyndon was a great one for
spreading benefits around to as many
people as possible,” Lady Bird
Johnson said. “I know he would be as
happy about this as I am.”
Mrs. Johnson spoke Tuesday at
the dedication of the suite on the
seventh floor of the hospital at Ft.
Sam Houston. The lounge will be
named for the late president.
LONDON — Britain's Prince
Charles “would have made a good
fighter pilot,” says Gen. Adolf Gal-
land, the German Luftwaffe ace in
World War II.
Galland and the heir to the British
throne, now a Navy helicopter pilot,
had a chat about flying Tuesday at a
celebration marking the opening of a
new wing at the Royal Air Force
Museum in London.
of the National League ofCiti«
She said women officeholder!
knows appear to be morecandioi
some male officials. She attrik
the difference to the wont
background in idealistic voliui
organizations.
MIAMI BEACH, Fla. — New
York City might have avoided its fi
nancial problems had a woman been
mayor, says New York State’s
lieutenant governor, Mary Anne
Krupsak.
“New York was spending money it
didn’t have, and I don’t think that
would have been allowed to continue
under the kind of women I have seen
in public life,’ said Ms. Krupsak.
She spoke Tuesday at a meeting
LOS ANGELES - Viole
could result from a failure of tliel
ited States and Panama to readii
reement on a new Canal Zonetrej
Ambassador Ellsworth Bunker
warned.
Bunker, speaking Tuesdayto|
Los Angeles World .Affairs Conn
said, “If we try to maintain thestffl
quo, we will face mountingliostl
in both Panama and Latin Amen
— and the possible lossoftheve
interest we want to preserve.
Bunker heads the U.S, tea
negotiating the new treaty, h
began two years ago.
MAI
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[Brad Foste
IT'S TRUE., IS5AC! IF YOU
TALK TO YOUR PLROT5
TFieYLL 6R0W FASTCR!
BUT IT STILL TAKES A
L0(\)6 Tine.LYfU. I’VO GOT
Hurry! Hurry!
A must for every desk.
MUSICAL
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PAPERWEIGHT
FROM SWITZERLAND
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809 E. 29th Bryan
3 blocks from City National Bank
Check our special prices for full length portraits for the
Centennial Class of '76.
UNIVERSITY STUDIO
115 College Main, Northgate 846-8019
You don’t have to wait for
your commission to join the
5 out of 6 active duty officers
who carry USAA insurance.
As an Advanced ROTC student, you are eligible
to apply for USAA insurance—for your car,
personal possessions, and personal liability. USAA
is an association of officers serving fellow officers
with the lowest possible premiums, quick and fair
claims settlements, and a sharing of dividends.
(Though not guaranteed, USAA has been paying
dividends every year since 1924.) You may save
as much as $20 to $60, depending on where you
live, on auto insurance alone.
And a special USAA feature, the Household
Goods Policy, is available to insure your personal
property at home, at school, or in your car, for
only $10 per year per $1,000 of insurance
protection. Small wonder more officers insure with
USAA than all other insurance companies
combined. Mail the coupon for details—at no
obligation.
Please Print or Type
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Street Address
City, State, Zip
(Area Code) Phone No.
5281 |
Soc. Sec No.
I Student Program □ Air Force □ Army
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I □ Advanced ROTC Program
■ □ Other (Title of Program)
I Name of College or University
| I am interested in information (At No Obliga-
. tion) on:
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I Liability
I USAA
For more information write
USAA
USAA Building
San Antonio, Texas 78284
£