100%

Scanned image of the page. Keyboard directions: use + to zoom in, - to zoom out, arrow keys to pan inside the viewer.

Page Options

Download this Issue

Share

Something wrong?

Something wrong with this page? Report problem.

Rights / Permissions

This collection, digitized in collaboration with the Michigan Daily and the Board for Student Publications, contains materials that are protected by copyright law. Access to these materials is provided for non-profit educational and research purposes. If you use an item from this collection, it is your responsibility to consider the work's copyright status and obtain any required permission.

September 03, 1967 - Image 6

Resource type:
Text
Publication:
The Michigan Daily, 1967-09-03

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

PAGE SIX

THE MICHIGAN DAILY

qTWMV qPPTR*MV.llt. q- 14911

PAGE SIX THE MJCHTI~~~~~ANLI hI R ThT UQD3~~1II' n

-5 t~JiNLF . k-3 .rA.ivrArh S, .LUzJ

I

I

11

Nigerian Leaders Claim
Victory in Western Area

The rebels, who took Ore on
Aug. 21, claimed they had not lost
it. They also claimed to have shot
down two Nigerian planes and
sunk a Nigerian vessel carrying
50 troops.t
The federal government disputedt
both claims.I
Nigeria named Trade Commis-
sioner Okoi Arikpo, who comesF

FACE FORMIDABLE OBSTACLES:
Congress Drives to Tighten Tax
oopoles in Lieu o Inerease
WASHINGTON (AP-A drive is Rep. Dominick V. Daniels (D- Whether or not he obtained a
on in Congress to tighten up ex- NJ), introduced last week a bill majority-and he has said h is
emptions and special provisions in embodying the maximum objec- under no illusions-the petition
the present tax laws to reduce- tives of the tax reformers. It move would put some members on
or even eliminate-the need for would reduce the depletion allow- record and presumably would

0

a general tax increase.
The going is rugged, against
formidable obstacles. But at least
some main targets are being iden-,
tified. Two of the principal ones
are the 271 per cent oil depletion
alowance, whose opponents have
campaigned for years in vain, and
the provision that allows capital
gains to be inherited without tax.I
The administration says it is

ance on oil from 27'2 to 15 per
cent and it would provide for cap-
ital gains taxes to apply at the
time of a taxpayer's death to the
added value his holdings had ac-
quired. Present law relieves the
heirs of this burden. Daniel's bill
would end the tax exemption on
interest bonds issued by munici-j

exert some pressure.
A principal idea-man in the tax
reform drive is Rep. Henry S.
Reuss (D-Wis). Reuss is not a
member of the Ways and Means
Committee, but he ranks high on
the House Banking and Senate-
House E c o n o m i c committees,
which provide platforms for his
views.
1000 Stage
Quiet March

palities
plants.

to finance industrial

for tax reform-but later. Admin- Would Hit Stock Options
istration witnesses before the tax- In addition, the Daniels' bills
writing House Ways and Means would tighten up on stock options,
Committee insisted that combining large charitable deductions, divi-
loophole-closing provisions with!dn xlsogf aemlil
herop -osdsurcharge on incomecorporation advantages and pay-
taxes would delay the legislation!

it

which they say is needed quickly

to avert a budget crisis.
No Indication Reform Considered
The drive to include tax changes
so far has been conducted out-
side the Ways and Means Com-
mittee, which will decide the form
of the bill-if any-on which the
House votes yes or no.
There has been no indication
that the committee, whose hear-
ings are in recess until Sept. 12, is
considering tax code changes now.
But some proponents of these are
hoping that when the vote-wise
committee chairman, Rep. Wilbur
D. Mills (D-Ark), takes his sound-
ings he will decide .to sweeten any
tax increase with some revisions
that might convince the average
taxpayer he isn't carrying the
whole load, but that others are
giving up advantages they have
enjoyed.

f

COL. C. O. OJUKWU

from the eastern region, as com-k
missioner of external affairs. He
will lead a delegation to the Or-
ganization of African Unity meet-
ing starting tomorrow in Kinshasa,
Congo.
The job of the delegation will be
to head off debate of the war-
which Nigeria contends is strictly
an internal matter.

'F
r

141i

ment of estate taxes in par-value
govei'nment bonds. 'II~i~1Lf
Daniels told the House the 0
House the package is negotiable:
"I am not sure my bill is the MILWAUKEE OT) -A swelling
final answer or whether it is an throng of civil rights marchers,
answer at all, but I do think it is, moving without police interference
a possibility, and it is possibly for the first time in four nights,
worth considering." He estimated surged into the virtually all-white
it would raise $4.3 billion. First- South Side last night - a sec-
year estimates of the income tax tion where hoards of heckling
increase proposed by Johnson are whites greeted them with stones
$6.3 billion. and slurs earlier in the week.
Rep. Charles S. Joelson (D-NJ), Negro comedian Dick Gregory
has zeroed in on the depletion al- and firebrand Rdman Catholic
lowance. He is author of a sepa- priest, the Rev. James E. Groppi,
rate bill to reduce it to 15 per were at the head of a line that
cent. The Ways and Means Com- stretched for four blocks and num-
mittee has taken no action. herd about 1,000.h
Joelson has said that if the Youth Council of the National As-
measure remains shelved, he will sociation fortheAdanens-
file a discharge petition-a device Coon Por the Ad ancemente
by which action can be forced if mitted by police since a state of
a majority of members sign, emergency proclamation was de-
clared by the city's mayor as a re-
sult of violent clashes on the South
61 DeounRces Side Monday and Tuesday nights.
Ban Lifted
" The ban imposed by Mayor Hen-
ice Increase ry Maier earlier in the week was
lifted at 9 a.m. yesterday as an-
nounced by the mayor Friday.
said, adding with a smile, "we're Maier had oreder the nighttime
not even in the game--the Coun- ban on streets demonstrations af-
cil hasn't bought one steel bar ter violence erupted when the
in the last 22 years." Youth Council marched to the
A face-to-face meeting between city's South Side Monday and
administration spokesmen and Tuesday nights. When the march-
steel will take place Sept. 12 when ers returned to their Freedom
the Commerce Department plans House headquarters Tuesday they
the fifth in a series of meetings found the building in flames.
with majoi industrial groups - The Youth Council had marched
this time with steel. into the predominantly Polish-
Ackley is expected to attend the American section to dramatize a
session, demand for open housing legisla-
The Council indicated that the tion.
steel bar increase was the straw Most of Milwaukee's Negroes live
that broke its silence. With, the on the near Northe Side.
addition of bars, the increasesothesne toward the South Side
which up to then had been lim- The surgetwngdngemSrhide
4-4 4 n 1-+..ocame after singing, marching dem-

R

President's Economic COuH4
Steel Industry's Planned Pr

WASHINGTON ( )-The John-
son administration is likely to get
more noisy over future industrial
price increases in the wake of last
week's verbal volley at the steel
industry for raising the price of
bars 1.8 per cent.
It was the first public denun-
ciation of a price hike by the
President's Council of Economic
Advisers since last Jan. 12. .
But one source said yesterday

the critical shots are likely to be
fired more frequently now if bus-
inessmen continue to raise prices
in defiance of administration
wishes.
Although the outcry last week
failed to roll back prices, Gardner
Ackley, Council chairman, said
he would have been derelict in
his duties if he had withheld pub-
lic reaction.
The Council has worked behind
the scenes for more than six
months in its, attempts to con-
vince industry it should hold the
price line. It hasn't been com-
pletely successful but until last
Thursday the Council saw no need
to revert to the public fireworks
which greeted many wage and
price increases last year.
The blast at steel, one govern-
ment source said, proves the Coun-
cil still believes in its wage-price
guidelines 'which fell into disuse
during the first half of this year
but which the Council considers
far from dead.
Price Increases
The past two months, he added,
have seen price increases through-
out the economy and lie said he
wonders why key businessmen do
not take a stand against further
increases. "Maybe nobody should
speak for the public interest," he

t
f
,t
f
1
i
S
{
l
k
1

ited and selective orm a consist-
ent pattern of higher prices for
almost half the steel produced in
the nation, Ackley said.
Productivity
Ackley also plugged again for
tying wage gains to productivity
although the Council last January
abandoned the specific 3.2 pro-
ductivity figure it used during 1966
and saw shattered by many wage
settlements.
Ackley said the most important
single source of upward pressure
on prices in areas other than steel
comes from wage increases "that
greatly exceed the rise of produc-
tivity in the economy generally."

onstrators poured down Wisconsin
Ave., Milwaukee's main street, af-
ter leaving the grounds of St.
Boniface Roman Catholic Church,
where police Friday night broke
up a demonstration in a flash of
night sticks.
Police yesterday marched along-
side without interfering with the
throng-one of the largest ever to
assembly for a civil rights protest
in the city's history.
Yesterday's march, unlike those
of the previous nights, was com-
paratively free of tension. March-
ers laughed, sang, and joked with
spectators.

I

a

a
V

O

FOLLETT'S FOIBLES

By E. Winslow

c

0 L
LLIII

When his girlfriend craves
knowledge
On anything at this college

I

She muc
specializ

r
:h prefers one who
res.

A certain bibliophile on campus
despises
Folletts bookstore, because he
realizes.

ABc7
\Z
U9
-alace uality

We have a complete textbook selection

A

for up to 25%less

Follett's has the most complete line of new and used
textbooks in this area. If you can't find the book you need,
just ask one of our friendly, experienced clerks; they'll
be glad to assist you. In addition to required texts and
reading, we stock a vast variety of quality art, drafting,
and school supplies as well. You'll save time and money-
as much as 25% buying good-as-new used texts. That's
why some of our best friends are bibliophiles.

Our line may be
M square, but it's
complete.

0111Ei rrcTC

4

Back to Top

© 2017 Regents of the University of Michigan