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About The Battalion. (College Station, Tex.) 1893-current | View Entire Issue (Jan. 21, 1976)
-UP D. CARD WELCOME BACK AGGIES KEEP UP WITH ALL THE NEWS OF THE WORLD, NATION, STATE, CITY AND A&M IN THE EAGLE EVERY DAY. YOU CAN HAVE THE EAGLE DELIVERED TO YOUR DOOR FOR ONLY PENNIES A DAY. CALL 822-3707 TO SUBSCRIBE. ASK ABOUT OUR SPECIAL APARTMENT RATES. As families wrestle finances THE BATTALION Page 3 WEDNESDAY, JAN. 21, 1976 Ford paints surreal budget SA ~ LE d Carr)} eat it I ) pizzas aft Sped For the past 100 years the Eagle has covered the day- to-day news of Texas A&M. Associated Press WASHINGTON — From the standpoint of a family wrestling with its finances, President Ford’s budget proposals may look like a giant sur realistic painting of many hands and pockets. Some of the hands are putting money into pockets, while other hands are taking money out of poc kets. Some of the hands may seem triple-jointed as they limberly reach through and around regulations and hidden passageways to pluck and deposit. There is an almost endless combi nation of possible effects the budget might exert on individual house holds. Here are some of the simpler pos sibilities: A family of four with adjusted gross income of $15,000 may have paid $1,612 in income tax lor 1975. Ford’s proposal would cut that tax to $1,446 in 1976 and $1,325 in 1977, a total tax cut of $287 over the two years. Adjusted gross income for most taxpayers means the total of all in come. On the other side, however. Social Security taxes paid by that same fam ily would climb from $877.50 to $922.50, an increase of $45. If this family had a slightly higher adjusted gross income of $16,500 a year, the balance would shift some what. While the income tax savings would be just about the same, the increase in Social Security taxes from THEME: THE ^/DNIGHT NR|p|r WlHE^ Jr ^vo* JL ^ ^ PRESENTING: ''"’34^^ “ Jr C AAS-Sj H $6.00 peA coupte - Nik OS THE THE peA c-oupte. PLACE: 7XCHRV ENGINEERING CESTTER TICKETS MAY BE BOUGHT AT THE TOWER BOX OFFICE OR AT THE DOOR. 1976 to 1977 would be $119.70 rather than $45. That’s because in addition to rais ing the tax rate on Social Security from 5.85 per cent to 6.15 per cent. Ford would also increase from $15,300 to $16,500 the maximum amount of adjusted gross income on which the tax is paid. Stepping down the economic lad der, die proposed income tax cuts get proportionally larger. A family of four with $10,000 of adjusted gross income, which paid $709 in 1975, would be paying $485 by 1977, a drop of nearly one-third, or $224. At the same time, the Social Security tax from 1976 to 1977 would be only $30 greater. The tax drop works out that way because not only are the tax rates lowered for the first $10,000 in ad justed gross income, but the tax exemption for each family member is increased from $750 to $1,000 by 1977. The latter provision is especially helpful to large families. For two parents and their six children, for example, the change means $2,000 less income on which to pay tax. The amount actually saved would depend on the family’s tax bracket, but might amount to $400 or $500 for a middle income household. For a family taking care of an el derly parent, the Ford program in creases the chances of having to pay as much as $750 in short-term or routine medical costs, but it would eliminate the risk of a lengthy medi cal crisis draining thousands of dol lars from the family bank account. If the family budget has room for a bit of saving, the Ford plan would encourage putting that money into Corps airs 107.5 KORP tonight KORP-FM will begin transmis sion tonight at 7, barring all compli cations, announced John Hatridge, Corps Public Relations Officer. Under station manager, David Partin, the transmission will be found at 107.5 on the Midwest Video radio dial. A special feature of the station will be free announcement of student and community activities, along with general programming of easy- listening rock and country. The Corps was offered the station after Student Radio moved to a new frequency available on both cables. Student Radio transmission is to begin Jan. 28 at 4 p.m. at 89.1 FM. “The station is open only to Corps members as far as workers go, but its programming will be aimed at all students. We do not intend to com pete with Student Radio,” said Par- tin. TAKING THESE COURSES? SCHEDULE Engineering Design Graphics Environmental Design Landscaping Design All Architectural, Art & Engineering Courses BER0L TECHNICAL PENS The newest advancement in techni cal pens. Build your own set. Clog- free! BRUNING ELECTRIC ERASER Cord or Cordless DRAFTING KITS ART SUPPLIES DRAFTING BOARDS All sizes !E mot iED 2-12! DISTRIBUTOR FOR: K&E, BRUNING, DIETZGEN, ALVIN, LIETZ, CHARPAK, GURLEY, POST, MAYLINE, PENTEL, CHARV0Z-CARS0N, NATIONAL TRACING PAPER & TEXAS ART SUPPLY. BLUE & BLACK UNE COPIES AND XEROX COPIES 10% STUDENT & FACULTY DISCOUNT ON ALL PURCHASES $5.00 OR MORE! PLENTY OF PARKING Engineering SL Office Supply Corp 1412 S. Texas 846-4754 Redmond Terrace Center College Station Owned by two Ex-Aggies Class of ’26 & ’47 402 W. 25th 823-0939 Bryan common stocks by providing tax breaks. Money put into stocks, up to a cer tain limit, could be deducted from taxable income. And dividends earned by the stock would not be taxed either until withdrawn from the plan. The administration hasn’t yet spel led out how much money could be put into this tax-saving feature, nor has it said at what higher income levels this opportunity would be ph ased out. If the $15,000-familv of four could Service fee requests set aside $500 for eligible stock pur chases, this program might be worth $104 in tax savings. Some of the other budget propo sals might provide a bonanza for some people, nothing for others. To someone now unemployed who got a job because of Ford’s pro posed business stimulants, the ad ministration’s plan would be worth thousands of dollars. Before the final results are in on what’s happening to family finances, each of these programs must be ap proved by Congress, continued from page 1 nances, said John Oeffinger, Political Forum chairman. The Student Programs area asked a 14 per cent increase mostly going to mandatory salary and wage increases for staff. Last year’s request was $306,583, and this year’s is $348,310. Jane Logan, president of the MSC Council and Directorate, said that the Arts and Crafts shop “is already inadequate for the number of stu dents it’s supposed to serve,” In the area of programming, a total increase of $13,000 was requested. This is being directed toward a video tape committee, increase in instruc tion in indoor sports and dance and continuation of the Dinner Theater on a regular basis. Student Government request went from $20,000 to $22,700. The major areas of increase are for run ning professor evaluations on a com puter, lobbying through Texas Stu dent Association during the next Texas Legislative session, public re lations and a secretary salary. The Director of Student asked for a four per cent increase over last year with a $59,910 request. Again, mandatory wage and salary increases are re sponsible for the increase. WEE AGGIELAND HAS EXPANDED ITS FACILITIES! NOW ACCEPTING NEW ENROLLEES FOR SPRING SEMESTER KINDERGARTEN FIRST GRADE PRE-KINDERGARTEN ALL DAY CARE WEE AGGIELAND 1711 VILLAGE DRIVE • 846-6952 ROYAL TOT 110 ROYAL STREET • 822-0391 COLLEGE STATION ■ SPRING WHITE SALE AT STEAMBOAT 20-40% OFF! A Spring vacation week of good skiing between March 27 and April 17.. .as low as $99* Continental Airlines’ Spring White Sale includes 7 nights lodging and 6-day lift ticket And save 25% with Continental’s special low tour- basing air fare. Transportation from Denver to Steamboat available via Rocky Mountain Airways or skierized Avis rental car. Special social even ts at Steamboat, plus free drawings for Lange ski equip ment and other great prizes. Charge it all on your Ameri can Express Card. For more information, send in the coupon, or call your Continental Holiday Specialist or your travel agent. Continental Airlines TAM Box 9000, Van Nuys, California 91406 *Per Person based on quad condo or lodge occupancy. Air fare is additional.