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University Daily Kansan, August 29, 1980
Page 3
Carter's economic proposal calls for $27.6 billion in tax cuts
WASHINGTON—President Carter, pressured from all sides to develop a tax-cut plan before the election, responded yesterday by proposing $2.6 billion in tax reductions for businesses and individuals effective in 1981.
But the tax reductions and other features of the president's economic proposal would push the 1981 budget to more than $33 billion, a huge deficit from the balanced budget that Carter unveiled with great fanfare March 14.
Carter's tax proposals would give individuals $12.6 billion from tax credits to offset the 1981 increase in Social Security taxes and a tax
deduction to reduce the "marriage penalty" for working couples.
Businesses would receive $13 billion through tax incentives to promote investment, including $6.3 billion from an annual tax incentive program for the cost of plants and equipment.
Carter also announced that he would support a 13-week extension of unemployment benefits for jobsless Americans, a $1 billion program in antirecession assistance to cities and counties, and expanded job training.
He said his program would create a million jobs by the end of 1982, including 500,000 jobs in 1981, most of them in private industry.
Carter made optimistic claims for his program, saying it "will put people in work and reduce taxes, increase public and private investment and constrain inflation."
The total cost of the plan—from the $27.6 billion in tax reductions and $2.4 billion in spending initiatives for 1981 — is about $30 billion.
The tax cuts fall short of the $37 billion reduction advocated by Republican Reagan, of which billion would be for individuals and $8 billion would be for employers. It is also less than the $39 billion approved by the Senate Finance Committee.
Branding it a "half-hearted approach" and "political quickfix," Reagan attacked Carter's plan yesterday and said it would not revitalize the economy or cut taxes effectively.
The biggest single element in the package is a $2.7 billion tax cut, yet Reagan said, "$15 billion of that is merely more federal paper shuffling" and Carter's proposed tax credit to offset higher Social Security payments "just does not make sense - that just is not a tax out."
Reagan, arriving at his rented 46- acre Middleburg, Va., state where he will live for the remainder of the campaign, issued a statement in response to Carter's fifth economic program in three and a half years.
It was, he said, "unfortunately cut from the same cloth as his earlier people out of work, people out of money, out of more land." And it will produce the same results."
In Prairie Village, Kan. Sen. Robert Dole, the ranking Republican member of the Senate Finance Committee, called Carter's revitalization plan a "do-nothing program reminiscent of the '30s."
"Instead of a growing, healthy private economy, the president offers billions more in government spending."
Carter has criticized the Reagan plan, which calls for a 30 percent reduction in tax rates over three years, as inflationary.
that has created the mess we find ourselves in,"Dole said.
"The Carter plan is a good example of the kind of attitudes and indecision
But Carter had been under heavy pressure from congressional Democrats and other supporters to develop a tax cut plan of his own to keep them from completely monopolizing the issue in the presidential election campaign.
12 arrested in Italian train station bombing
ROME (AP)—Police arrested 12 suspected neo-fascist terrorists yesterday and issued arrest warrants the first break in the investigation of the Aug. 2 bombing of a Bologna train station. The bombing killed 83 people.
Dole to campaign in Lawrence today
Kansas Sen. Robert Dole is expected to speak against draft registration this morning in Lawrence as he begins his fall campaign to keep his Senate seat.
According to information released last night, Dole will criticize the reelection draft registration for 19- and 20-year-old males, which started in July.
The official start of the campaign was last night in Topeka when Dole opened his state campaign headquarters.
Dole is scheduled to stop in Lawrence to speak at a press conference in the museum of the Lawrence City Hall before leaving Kansas City, Kan., for more campaigning.
Dole is being challenged by former state Sen. John Simpson, D-Salina.
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Investigators still are studying the chemical composition of the bomb, which left a crater four feet wide and eight inches deep and leveled one of the three buildings in the Bologna train station.
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The police, who were reluctant to reveal the names of those arrested and the specific charges against them, said they had received information if they gave out too much information.
The blast came on one of the busiest
Police raided the homes of the suspects in Rome and several other cities and charged them with crimes including planning and carrying out the attack, forming armed bands and attempting to subvert democratic order.
"The structure of this organization is neo-fascist and neo-Nazi." Assistant State Prosecutor Luigi Persico said in Bologna. The attack was the bloody act of terrorism in Europe since World War II.
Paolo Signorello, 42, a high school teacher and a suspected member of the right-wing Armed Revolutionary Nuclei, was arrested at his villa near
Lake Bolsena, about 30 miles north of Rome.
Another person, whom police did not identify, was arrested at the villa. Police held four others for questioning.
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vacation weekends of the year. Two Americans, William and Jeff Davis of Provo, Utah, were injured in the attack.
Millions of workers walked off their jobs Aug. 4 in a national four-hour shift to protest the bombing, and 200,000 people are buried the dead at funerals Aug. 8.
Since 1969, right-wing terrorists have been blamed for 118 deaths, and left-wing terrorists have been blamed for 85 deaths in Italy.
On Campus
GRAND ROUNDS
Elliott Richelion of the Mayo Clinic in Rochester, Minn., will be the first of a series of speakers in the department of psychology. Round library classroom discourses.
Richelson will talk on antidepressants and neurotransmitters at 10:30 a.m. today in the library
classroom at the University of Kansas Medical Center.
There will be an INTERVARSITY CHRISTIAN FELLOWSHIP meeting at 7 onight in the Regionalist Room of the Kansas Union.
THE BIOLOGY CLUB will meet at 4 p.m. in the Sunflower Room of the Kansas Union.
"WHY DO THE HEATHEN RAGE?"
Psalms 2:1 and Acts 4:25
Over two hundred and fifty years ago, Joseph Addison wrote wonderfully telling how the created things seen testify of the unseen Creator, and how "The heavens declare the glory of God" and testify of Him. His words of declare the glory of God in the fresh as yesterday's writing, and still are preserved in the hymns as yesterday's. probably millions of hymn books round about the being used and sung by the true people of God as they worship and 'praise God from whom all blessings flow.'
The evidences of the existence of "The Living God," who is from Everlasting to Everlasting, having no beginning and no end, are clearly seen being understood by things that are made, even His eternal power and Godhead; so they are without excuse," that deny Him. Romans 1:20.
the blessings flow." We quote the hymn words of the song "Spacious Firmament on High" in order that you might see its testimony of the "Living God" and compare it with the testimony of those who say "there is no God":
1. The spacious firmament on high, With all the blue
games in the game.
THEIR GREAT ORIGINAL BOOKCLAIM: The unnamed
from day to day. DOTH HIS CREATOR'S POWER DISPLAY, AND PUBLISHES TO EVERY LAND THE WORK OF AN ALMIGHTY HAND.
2. Soon as evening shadows prevail, THE MOON TAKES UP THE WENDROUS TALE, and nightly, to the listening earth, REPEATS THE STORY OF HER BIRTH; WHILE ALL THE PLANETS BUY THEM BURN, AND ALL THE PLANETS IN THEIR TURN, UNFIRM THE TIEDINGS AS THEY ROLL, AND SPREAD THE TRUTH FROM POLE TO POLE.
3. What tho' in solen silence all move round the dark terrestrial ball? What tho' no ringing voice nor sound, amid radiant beasts be found in season's ear they all rejoice, and radiant voices be voiced when as they shine, 'THE HAND THAT MADE US IS DIVINE'
Let us pray for mercy for those who say there is no God, praying that "THEY MAY BE TURNED FROM DARKNESS UNTO LIGHT, FROM THE POWER OF SATAN UNTO GOD, THAT THEY MAY RECEIVE FORGIVENESS OF SIN, AND THE INHERITANCE OF THOSE SANCTIFIED BY FAITH IN THE LORD JESUS CHRIST!"
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