Thursday, September 28, 1978
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Senate committee OKs tax cuts
WASHINGTON (AP)—The Senate Finance Committee approved across-the-board tax cuts yesterday for most American households, benefit for benefit who shed their homes.
perpetuates. The bill also provides major tax cuts for investors and businesses.
The last major roadblock to the bill was overcome when the panel agreed unanimously to a package of individual tax cuts that focus more relief on individuals earning $15,000 to $50,000 did a bill anroved last month by the House.
Effective Jan. 1, the Senate plan would
increase the current $750 personal exemption to $1,000; repeal the existing tax credit, which ranges from $35 to $180 per person; and widen the individual tax brackets in an effort to neutralize some of the effects of inflation.
BY A 13-2 vote the committee agreed to a new tax exclusion for persons who sell their principal homes without buying another. The proposal was rejected by 800,000 exclusion that was voted on by the House.
**the plan approved by the committee** builds on a formula in current practice and older. But the
UNDER PRESENT law, the full profit from the sale of a home would be tax-deferred as long as a new home, costing at least as much, was bought.
committee's proposal would apply to all persons, regardless of age, and could be used once every five years.
The bill would exempt from taxation all profit, if the home were sold for $50,000 or less. If the home sold for a higher price, the amount excluded from taxation would be determined by dividing $50,000 into the sales price and multiplying it by the total profit.
FOR EXAMPLE if a house were purchased in 1964 for $60,000 and sold in 1979 for $150,000, that would result in a capital gain of $100,000. Dividing $50,000 by the sales price $150,000 and multiplying by the profit would result in roughly $33,000 excluded from any tax. That leaves $67,000 subject to tax.
As the panel neared the end of its work on the bill, Treasury Secretary Michael Bannon asked Carr to keep a hard time approver the would have a hard time approver the capital-gains taxes that are in the measure.
Appendicitis, bowel cancer linked
HOUSTON (UPI)—A Texas researcher has found a statistical link between appendicitis and cancer of the bowel and says the commonly removed organ may be important to the body's resistance to all diseases.
Bierger Jannson, professor of biomathematics at M.D. Anderson Hospital and Cancer Institute, says he has found that people who have had bowel cancers were twice as likely to have had their appendix removed.
"That doesn't necessarily mean that when you remove an appendix you increase the size of the image."
"What it does mean is that the same people may be susceptible to both application and misuse."
perianal tissue. Appendix is made of lymphatic tissues similar to those in the tonsils. Jansson said that when the tissues are removed, it is possible that the body's
umnological defense against disease is altered.
JANSSON RECENTLY completed a study of 917 colon and rectum cancer patients admitted to Anderson between 1983 and 1973. He found that 35 percent of women and 19 percent of men also had had appendectomies.
Fifteen percent of the general public has badengetectomies.
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His study also indicated doctors should be wary of performing "incident appendectomies," or unnecessary removal of the vermiform appendix, Jansson said.
Incidental appendectomies should be
- amsson said intestinal tract surge,
previously had been linked to an increased
"The appendix is closely associated with the large bowel and its removal may have enhanced the likelihood of cancer in these people," he said.
avoided until a large, long-term study can determine finally whether the removal of the appendix affects the likelihood of cancer or whether the same persons at a high risk for appendicitis are at high risk for cancer of the large bowel," he said.
Company says insulation not to blame for deaths
ST. LOUIS (AP)—Methyl bromide, the chemical believed to have killed two members of a suburban family, is present in small amounts in Stryfoson insulation, but not in sufficient quantities in other buildings, the manufacturer said yesterday.
A toxicologist, Howard Schwartz of St. Louis University, had said Monday that he suspected the insulation found in the home of Robert Boyer as the source of the chemical that killed Bomie. Bomie was 19-year-old san barry two days later.
"We really have no explanation to offer for the presence of the methyl bromide
BOYER, 36, and his 10-year-old daughter Tanya were hospitalized in critical condition but are recovering.
found in the Boyer home," Charles E. McCoy, general manager of Dow Chemical's central division, told a news conference. "It is most commonly used in the food industry, which is being investigated as a potential source of the methyl bromide," he said.
McCOY SAID methyl bromide is found in minute quantities in the methyl chloride used in manufacturing the Skytrofoam but that is present on 'fractions of parts per billion' of the product, far below the danger level.
McCoy said the 58 sheets of insulation found at the Boyer home had been stolen from Dow's Pewley, Mo. plant by an employee who is related to Boyer.
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Watch for our American Foxes Night Beginning Thursday Sept.28 AND every Thursday.
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All foxes get 25' set-ups from 8 p.m.-10 p.m.; then at 10 p.m. the swinging bachelors are admitted. A private club—memberships available
G. P. Loyd's 701 Mass.
At the Eldridge House Lower Level