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.

February 03, 1980 - Image 10

Resource type:
Text
Publication:
The Michigan Daily, 1980-02-03

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

rri
f,

Page 10-Sunday, February 3, 1980-The Michigan Daily
A2 CIVIC THEATRE TRYOUTS
FOR
"THE CRUCIBLE"
Feb. 3, 4, and 5 at 7:30 P.M.
Some callbacks on Wed. Feb. 6
THERE ARE ROLES FOR: 11 men and 10 women (5 women between
14-21). In addition to reading from the script and spontaneous improvisions
each person may audition with 1 or 2 prepared poems, speeches from other
plays, or naturalistic pantomimes-2-3 minutes-optional.
AACT Main St. Building-
338 S. Main St.

Energy plan may

cut workweek

WASHINGTON (AP) - The gover-
nment is readying strict standby
energy conservation measures that
could be invoked in cases of severe
energy shortages, including a man-
datory one-day reduction of the work-
week and restrictions on automobile
driving.
kniergy Department sources said
yesterday the measures, which could

be imposed by President Carter in case
of a severe shortage in oil supplies, will
be issued tomorrow. Some parts of the
plan, however, will not be final until af-
ter public hearings.
The eight-point plan was required by
the Emergency Energy Conservation
Act approved by Congress last October.
If the final plan is invoked, sources
said, two of the eight measures would
have the most noticeable impact on in-
dividuals:
A one-day mandatory reduction of
the five-day workweek in areas where
continuation of the normal work
schedule is not essential. Sources said
this would affect most commerce and
businesses;
* A ban on the use of all vehicles in a

household on from one to three days
during the week, depending on the
severity of the energy supply shortage.
All vehicles in a household would carry
a sticker showing a day of the week,
and none of the vehicles could be used
on that day.J
Energy Department spokesman Ed
Vilade said yesterday that, "I can only
say we're preparing standby
measures." But several department
sources, who asked not to be identified
by name, confirmed details in the ten-
tative plan and said it will be published
in the Federal Register this week.
Under its terms, one official said, the
plan would be triggered by Carter's
declaration of an energy emergency
based on "a severe energy supply in-

terruption."
States would then be given 45 days to
develop conservation plans meeting
consumption cuts required by the,
federal government.
If the targets are not met and the
supply shortfall in any state is eight per
cent, then the president could impose
any or all of the mandatory conser-
vation measures in that state,, officials
said.
"Enforcement," said one Energy
Department official, "will be up to the
states."
Although the measures are being put
in place, administration officials said
they do not expect such a severe supply
shortage that the plan will have to be
used this year.

2.12 ZZ
t

School getting you
down?
Take A Daily
break!

Carter's hidden tax hike bared

WASHINGTON (AP) - President
Carter's budget for fiscal 1981 contains
a hidden federal income tax increase of
more than $18 billion on Americans
with growing incomes.
This tax hike, which might be called
the "inflation tax," will hit all
Americans whose income goes up; the
more their income goes up, the harder
it will hit them. '.
Thanks to the structure of the federal
income tax code, Carter will be able to
count on more tax revenue from in-
dividual Americans without proposing
an income tax increase to Congress. At
the same time, he can increase spen-

SUBSCRIBE TODAY. ..764-0558

a

.._._.

10

i

4 -

ri

m

ding and decrease the deficit.
The government windfall is a major
factor in a series of seemingly con-
tradictory elements in Carter's budget
proposal:
" He proposes no tax cut or increase;
. He predicts that the federal deficit
will drop from $40 billion this year to $16
billion in 1981;
" Yet, he expands defense spending.
and keeps most domestic programs
even or virtually even with inflation;
" And he is able to preserve the $2.3
billion state share of general revenue
sharing, which he had promised to end,
add a $1 billion special aid program for
state and local government, and ex-
pand spending on youth unemployment
and housing subsidies.
Those last four decisions help win
him friends with the liberal labor, black
and urban groups which remain crucial
to winning the Democratic Party's
presidential nomination. They were
considered the most likely Democrats
to desert Carter this year for Sen. Ed-
ward Kennedy (D-Mass.), his chief
rival for the party's 1980 nomination.
Everyone knows by now that you lose
buying power if your income and tax
payments remain the same over two
years while inflation corinues.
BUt what if your income keeps up
with inflation? Do you stay even? No.
Your federal income tax burden in-
creases, even if your income does not
rise enough to kick you into a higher tax
bracket.

This is the heart of the inflation tax
and here is how it works, according to
congressional tax experts:
Atypical family of four with $10,000 in
basic income now falls in the 16 per cent
tax bracket and pays $374 in federal in-
come taxes. If that family's income
rises the next year by the predicted in-
flation-rate of 40.4 per cent, it will go to
$11,040. Their tax will go up to,$540, but
they will remain in the 16 per cent tax
bracket.
Nevertheless, their tax burden has
been driven up by inflation. Although
they are in the 16 per cent tax bracket
both years, they have not actually paid,
the government 16 per cent of what they
made in those years, because of the
way the bracket system works.
The brackets can be seen most
clearly on Tax Rate Schedules X, Y,
and Z at the back of your federal in-
come tax form. You pay a different tax
rate on each segment of your income.
You pay nothing on the first portion of
your income. For the next several
thousand dollars, you pay a relatively
low rate. Then, the next several0
thousand above that is taxed at a higher
rate. Each bracket covers several
thousand dollars in income, and each
has its own tax rate. The rates get
higher as the total income goes up.
Thus, in the second year, this.typical
family had more income in their
highest tax bracket. In other words,
they paid a 16 per cent tax rate on a
larger part of their total income.
In deferring a tax cut despite predic-
tions of 'a sagging economy, Carter'has
departed from past custom. Since 1948,
Congress has increased taxes
significantly six times, but it has made
11 major cuts - with the majority of the
reductions coming in election years.

i A

announcing:
THE VISIT OF CHARITO PLANAS
Filipino Lawyer and Exiled Defender of Human Rights
Ms. Planas was imprisoned for fourteen months for her activities against
Martial Law in the Philippines. She ran for election on the opposition ticket
in 1978, was targeted for arrest, and excaped to the USA where she is
now a political refugee.
ANN ARBOR SPEAKINP SCHEDULE
MONDAY, FEBRUARY 4
4 p.m. - "THE UNITED STATES AND MARTIAL LAW"
Center for South And Southeast Asian Studies,
Lane Hall, Room 200
8 p.m. - "THE PHILIPPINES: Current Issues & Concerns"
Ecumenical Campus Center, 921 Church Street
TUESDAY, FEBRUARY 5
12 NOON - "HUMAN RIGHTS AND THE PHILIPPINES"
International Center, 603 E. Madison Street
(Lunch-$1.00)
7:30 p.m. - "THE PHILIPPINES TODAY"
Ann Arbor Public Library, 343 S. Fifth Ave.
(Women's International League for Peace and Freedom)
SPONSORS Center for South and Southeast Asian Studies, U-M; Ecumenical Campus Center: Inter-
national Center, U-M; Office of Ethics and Religion. U-M; Women's International League for Peace
and Freedom.

.1

N.

Why you should buy your ring now!
1. You deserve it.You've accomplished a lot.
2. Save $15 on any 10K gold or Siladium ring instead of the
5% or $10 you might get from any other company.
3. Different Rings! The largest selection to choose from.
Over 20 different ring designs! See traditional and con-
temporary men's designs and beautiful fashion rings for women.,

l~

CLASSIC BLAZON COLORADO

SONNET SUNFLOWER MINI

WHEN: FEBRUARY I6, 1980
1:00 P.M. to 1:00 A.M.

l~ 'RTQrlVED
COLEGE RINGS
---------------------------REBATE CERTIFICATE------------------------
* I
GET A $15 REBATE ON ANY ARTCARVED COLLEGE RING WITH THIS CERTIFICATE.
Valid on any ring in the ArtCarved Collection (even gold). Choose from a wide variety of
* traditional, contemporary, or fashion rings, custom made to your individual taste.
How to get your $15 rebate by mail after purchase. j
1. This coupon must be presented with your order. 5. At that time of order, your ArtCarved Representative will *
2. Limit: one refund per purchase. Purchaser pays any sales give you a Rebate Request Certificate. This certificate must be
I taxes. mailed, along with proof of full payment, to ArtCarved within *
3. Offer valid only on rings ordered during this sale. three months after you order your ring. Rebate void after this
t 4. Rebates can be issued only after final payment on your ring period. Allow four weeks for rebate processing.
has been made.

WHERE:
ST PRIZE
from tech hifi
The school raising the

MARKLEY HALL
Nikko NR-515 Receigver
Philips GA-222 Turntable
TD CLoudspeakers
Audio-Technica AT-SOe Cartridge
largest amount of money will

0

win the"Little Brown Bottle-trophy. Sponsored by
Budweiser and the Muscular Dystreophy Association.
For more information contact: Bob Krinsky-764-4928

}I

Registration Required,

I

I

Back to Top

© 2020 Regents of the University of Michigan