BUSTER KEATON TONIGHT
OUR HOSPITALITY
Buster inherits a family feud and goes south to claim it. He gets
shook up on the train before he even gets any southern hospi-
tality in sthe form of his archenemies. PLUS on the same bill-
Page 6-Wednesday, September 10, 1980-The Michigan Daily
Reagan outlines plan to reduce
spending while cutting taxes
SHERLOCK JR.
Buster broke his neck making this film-You'll split your, sides
laughing. Both $2.00. 7:00 & 9:15.
AT OLD Ab
CINEMA GUILD C
Com --- u
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d
..
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YEAR PARTS
From AP and UPI
CHICAGO-Ronald Reagan spelled
out yesterday a long-range economic
program that emphasizes stemming,
the growth of federal spending as a key
element in achieving his goals of
simultaneously cutting taxes, in-
creasing defense spending and balan-
cing the budget.
In a speech to the International
Business Council, the Republican
presidential candidate restated his
commitment to cut tax rates 10 per cent
a year in each of the next three years
and added that further tax reductions
would be needed later in the decade.
His program projected balancing the
federal budget by the fiscal year begin-
ning Oct. 1, 1982.
BUT IN HIS speech, Reagan placed
greater emphasisthan ever before on
coupling a slowdown in the growth of
federal spending with his tax cut
proposals.
Reagan dropped suggestions that
sharp tax cuts would stimulate the
economy immediately to produce
enough new federal revenue to cover
the projected loss from lowering the tax
rates.
The speech, billed by Reagan aides as
a major economic policy address,
clearly was intended to answer Carter
administration attacks that the
Republican candidate's economic
proposals are inflationary, unrealistic
and an election-year "free lunch" that
never can be attained.
REAGAN ACCUSED President Car-
ter of economic failures that are "an
American tragedy" and "an assault on
the hopes and dreams of millions of
American families."
He said the nation is caught in "a
downward cycle of progressive
economic deterioration." To break that
cycle, he said, "we must balance the
budget, reduce tax rates and restore
our defenses.
"These are the challenges. Mr. Car-
ter says hecan't meet these challenges,
that he can't do it. I believe him. He
can't. But I refuse to accept his
defeatist and pessimistic view of
America. tknow we can do these things
and I know we will."
AT A NEWS conference Monday
night, former President Gerald Ford
disagreed with Reagan's proposal to
cut personal income taxes 10 per cent a
year for three years. "I don't think at
this stage we can commit ourselves,"
expressing belief it is impossible to
predict circumstances that far in the
future.
The heart of Reagan's economic plan
is the three-year, 30 per cent reduction
in personal income taxes embodied in
the proposal by Rep. Jack Kemp, R-
N.Y., and Sen. William Roth, R-Del.
IT ALSO called for:
-Cuts in goverment spending amoun-
ting to $195 billion over five years with
emphasis on waste and inefficiency.
-Fewer federal regulations.
-A stable monetary policy aided by an
understanding Federal Reserve Board.
-A consistent economic plan that will
not be abandoned for political purposes.
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WILLIAM SHIELDS, president of the Raritan River Steel Company, leads the way for President Carter after the
president spoke at the dedication of the new facility. Behind the president is New Jersey's Gov. Brendan Byrne and
New Jersey Sen. Bill Bradley.
Carter denounces GOP taX plan,
outlines his own economic plan.
From AP and UPI
PERTH AMBOY, N.J.-President
Carter asserted yesterday that the
Republican Party's plan for a massive
election-year tax cut is so bad that GOP
standard-bearer Ronald Reagan "will
soon be abandoning" it.
Speaking outside a new, $140 million
steel plant that Carter said is part of a
"new industrial base" for America, he
said the "so-called Reagan-Kemp-Roth
tax cut is a very, very serious
mistake."
ON A FOUR-HOUR campaign trip to
The Ann Arbor Film Cooperative $2.00
presents
WEDNESDAY, SEPT. 10
Woody Allen's
MANHATTAN
at AUD. A
Shows at 7:00, 8:40, 10:20
Tomorrow: Bergman's WILD STRAW-
BERRIES at Aud. A
New Jersey, the president touted his
own recently announced $27.6 billion
economic revitalization program,
saying it would create a million jobs in
the next two years while giving the
economy just what it needs. He foresaw
increased investment, offsetting Social
Security tax increases, holding down
inflation and funneling aid to depressed
areas.
The Republican tax proposal-em-
braced by Reagan-calls for a 30 per
cent reduction in personal income tax
rates over the next three years. The
former California governor reiterated
his support for the program during a
speech he made yesterday in Chicago.
But Carter, talking after he donned
goggles, a smock and a hardhat for a 30-
minute plant tour, said the GOP plan
would rerally mean tax cuts for the
rich, a devastating blow to the economy
overall and inflation for the average
family.
"IT IS SO bad that my prediction to
you is the Republican candidate for
president and other Republicans will
soon be abandoning their own Kemp-
Roth proposal and looking for
something even more reasonable," the
president said.
IN HIS prepared speech, Carter said
there "is no need for me to mislead you
and there is no need for me to try to
gain some political benefit from a very
fast-moving, ill-advised tax cut here
just before the November election."
Before Carter spoke, aides handed
out summaries of a study by the Office
of Management and Budget, which
concluded that the big Republican tax
cut proposal would result either in an
enormous round of spending cuts or
large deficits in the federal budget. The
study disputed claims by the GOP that
the tax cut would pay for itself by
kicking the economy into high gear.
Not sure which TIis
right for you?
We're having a
Texas Instruments Demonstration
Thurs. & Fri., Sept. 11 & 12, 10-4.
A company representative will demonstrate
all Texas Instruments calculators.
MORE THAN A BOOKSTORE
549 E. University at the corner of East U. and South U. 662-3201
Anderson ets nod
__
NOW OPEN 118 E. WASHINGTON
(NEXT TO BIMBO'S)
FEA TURING
FISH & CHIPS
" SANDWICHES STEAKS
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OPEN FOR LUNCHEON AND DINNER
LIVE ENTERTAINMENT-NO COVER
Tonight: JIM BIRCHER and
GINNY WALLACE
for Leagui
ouiiaeIr m ajt =
Reagan told reporters he had been
hurt in the early primaries by declining
to join a Republican candidate debate
in Iowa and said of Carter, "maybe he's
got to learn . . . the hard way."
Hinerfeld said negotiations with
representatives of all three candidates
were to be held today.
James Baker, a senior adviser to
Reagan, chided Carter for failing to
agree quickly to the debate, saying the
White House is practicing a "strategy
of confusion and exclusion."
"GOVERNOR REAGAN wants to
debate," Baker said. "The American
people want a debate and Governor
Reagan and the people of this country
want all viable candidates for the
presidency of the United States to air
their views, their proposals and their
records in an objective forum and an
open exchange."
e debate
Carter, in a talk with New Jersey
newspaper editors, said "a three-
person debate format is more like a
forum than it is a real debate.
"We are concerned about the fact
that I've not been able to induce Gover-
nor Reagan to debate me... on a two-
man basis," the president said.
Hinerfeld said Anderson was in-
cluded because he "has clearly demon-
strated voter interest and support, as
indicated in a number of nationwide.
public opinion polls."
The League earlier had said a can-
didate must receive at least 15 per cent
in the polls and meet certain other
standards before being included.
Hinerfeld said Anderson could b
dropped from later debates if he fails
below that 15 per cent threshold. After
the Baltimore debate, two other
presidential debates and one among
vice presidential candidates are plan-
ned.
COCKTAILS
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Cinema II
PRESENTS
High Holidays
THE TRIAL (Orson Welles, 1462)
The complexities and infuriating densities of Franz Kafka's
novel received royal treatment from Orson Welles. Jaded
eyes will receive the "pungent visual stimulation" expected
from the master of impressive staging and startling effects.
Seldom seen; well acted, this film demands intelligent view-
ing and thoughtful reaction. With Anthony Perkins, Orson
Welles, Jeanne Moreau, and Akim Tamiroff. (118 min.)
MLB 3 7:00 & 9:00 $2.00
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