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January 28, 1977 - Image 23

Resource type:
Text
Publication:
The Detroit Jewish News, 1977-01-28

Disclaimer: Computer generated plain text may have errors. Read more about this.

THE DETROIT JEWISH NEWS

Friday, January 28, 1977 23

U.S . to Hold Down Arms Sales, Middle East Focus of Arms Cut

tagon under outgoing De- "insure that Israel is in a strength on equal basis
fense Secretary Donald position to negotiate from' with the Arabs."
Rumsfeld.
rob
The sales are ear-
marked for Israel,
Greece, South Korea,
Thailand, Sweden, Spain
and the Netherlands.
In a related develop-
ment, -Republican Sen.
John Heinz of Pennsyl-
without checking our prices last.
vania strongly objected
last week to the Ford
We sell all makes and models. `
Administration's recom-'
We have no high overhead.
mendations cutting back
do
get full manufacturers warranty
You
aid to Israel and asked
You do save money
President Jimmy Carter
to rectify the aid pro-
gram.
TRANS AMERICAN AUTO BROKERS-
In a letter to Carter,
559-7833
Heinz said that the.amount
Ford is recommending is
14 percent less than 'the
sum allocated to Israel for
the current fiscal year and
more than one-third less
than the $2.3 billion that
Israel had requested in
on Li nwood
each of the last three
years.
"It is my view that such
further reductions in
on Northwestern
military assistance are
unconscionable," Heinz_
wrote Carter, "both for
pragmatic and military
In Only 25 Years
Taxes and Your Future
reasons and because of
the symbolic impact such
.. . And we've had a
cally. Only real estate can - has furnished the-entire an action will have on the
be held as a tenancy by the consideration for the Arab world."
U.S. policy has been
entirety and then, only property, she (or he) may
good time', huh, Renee
and should continue to be
when it is held by husband have to pay a gift tax.
► ;7 _
and wife.
• Generally, when a to facilitate a negotiated
Love Always, Jerry
Where property is re- husband (or wife) creates, settlement iri the Middle
gistered in the names of a joint bank account with East, Heinz said. He
two or more persons and a his wife (or her husband) added that the U.S. must
"right of survivorship" is using his (or her) funds,
intended, they own the there is no gift at the time
property as "joint ten- the account is opened or
ants." Stocks, bonds, when he adds to it. If the
p.
bank accounts can be held non-contributing person
Editor's Note: Guidance in joint tenancy. Upon makes a withdrawal,
on impOrtant problems the death of one joint there is a gift to the ex-
i the tent of the withdrawal.
provided by Jewish Wei- tenant, his interest in
r
property. passes, without
• When a spouse, buys
fare Federation-United specific mention in a will,
.
U.S
. Savings Bonds and
Jewish Charities Endow- to the survivor.
has them issued in both
merit Fund . Tax Advisory
Under a "tenancy in names there is no gift.
Committee. Professional common" the survivor re- But if the non-
advice about issues dis- ' tains only his or her share contributing person re-
cussed in these columns of the property. The other ceived the proceeds On
r*
should be secured from share owned by the ten- redemption, there is a gift
your attorney or an estate ant in common who dies, of,the amount she 'or he
planning adviser. Ques- goes into his or her estate receives.
r tions of general interest in to be distributed accord-
The Estate Tax
these matters should be ing to the terms of that
The entire value of
addressed to "Taxes and person's will.
Your estate planner joint property is included
Your Future," care of the
will
tell you whether in the estate of the fixst-

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tirety." This means that,
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WASHINGTON (JTA)
— President Carter said
that the United States
will "hold down" sales of
arms to foreign countries,
particularly those in the
Middle East. He did not
specifically name any
country.
Carter also said that
the time and place of a re-
newed conference on a
Middle East peace set-
tlement will have to wait
until after Secretary of
State CyrUs Vance visits
the Mideast. He noted
that if the \Palestinians
participate in the negoti-
ations it would likely be
as part of one of the.Arab
delegations.
Asked whether he
planned to call a tempor-
ary or permanent arms
sales moratorium, Car-
ter, according to an unof-
ficial transcript, said:
"I don't think a
Moratorium would be the
right expression, because
that, is an abrupt and total
termination of all owner-

ship. I don't contemplate
that. But in our first Na-
tional Security Council
meeting we discussed, and
I think in unanimity, the
necessity for reducing
arms sales or having very
tight restraints on future
commitments to minimize
the efforts by arms man-
ufacturers to initiate sales
early in the process."
"The Secretary of
State," the President
continued, "will be much
more hesitant in the fu-
ture to recommend to the
Defense Department the
culmination of arms
sales agreements. I have
asked that all approvals
of arms sales, for a
change, be submitted to
me directly before the
recommendations go to
Congress."
Carter also said "we
will also be talking to
some of the primary arms
purchasers, particularly
the Middle East when
Secretary Vance goes
there very shortly to hold

down - their own purch-
ases of arms from us and
other countries."
The immediate reac-
tion was uncertainty as to
the scope of the limita-
tions insofar as it affects
Israel which. is virtually
dependent in its entirety
on the United States for
sophisticated weaponry
and clarification was seen
as necessary. President
Ford had pledged four
categories of special arms
to - Israel but this was
never translated into a
formal presentation to
Congress, but left to the
Carter Administration
for action.
On the eve of the Carter
inauguration, the Defense
'Department notified Con-
gress of plans to sell
$188.4 million in arms and
military equipment to
seven countries, including
177 mm guns, radios and
tools worth $21 million for
Israel.
The action was one of
the last taken by the Pen-

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