The Orlando Sentinel from Orlando, Florida • Page 5

Fair Honors 5 A rlanbir Srtttitirl Historic Tax Cut To Boost Economy Here's What Tax Cut Will Mean For You Phone 6A 1-44M Classified CA Mill Thursday, February 27, 1964 anced out with some taxlin the final stage. The ora- THE CHANGES do not ap c.i. increases and tightening of. tory and most of the formal- ply to 1963 income tax re Seminole, Visitors deductions, hties were completed after "The important House passaee Tuesday. turns being filed before WASHINGTON This table shows tax cuts for married But Johnson said more im April 15.

the president said, is that portant is what a strong The cuts were proposed ON PASSAGE, 53 Democrats and 21 Republicans vo persons filing jointly and single persons in the $11.5 billion tax cut bill (two-thirds of the reductions are effective this year, the rest in 1965): MARRIED COUPLES FILING JOINTLY this bill means increased income for almost every tax-paver and business in Amer U.S. economy means to preservation of freedom in ted for the tax cut. It was opposed by 10 Democrats the world. There is "no asset more precious to free Tax. Income 1S6S ISM and 9 Republicans.

The dom, and no guarantee more vital to liberty than a robust House had passed the bill American economy, he as Tuesday by a similar wide ica and those earning the least will receive the largest percentage reductions." THESE, Johnson siad, are the direct and immediate results, "but our long term objective is to raise the entire level of the American serted. margin. Then in an allusion to the remarK several years ago THEY ISSUED a distress call over the public address system describing the boy as "two-years old, wearing a red sweater and carrying an American Flag." In a matter of minutes Jack Simpson of Cocoa dashed up and declared: "He's mine," Then he added, "Do I get a The first impact of the long-awaited tax cut will be felt on March 5, when the withholding of income taxes by Soviet Premier Khrushchev that communism would economy, I he dollars you no longer pay in taxes can by employers drops from a Speaker do this." to Congress 13 months ago by President Kennedy to ease drag on the economy by freeing more money to spur production and thereby reduce unemployment. Johnson also placed the bill at the top of his list of priority legislation. Moves to knock out excise taxes of various kinds lost out but there were promises that efforts will be made later to do this as a separate action.

The cut in individual income tax rates and corporate rates will be in two annual stages, the first retroactive to last Jan. 1. The individual rate will drop from the present 20 to 91 per cent to 14 to 70 per cent, about two-thirds of the decline coming this year. The corporate rate will drop from 52 per cent to 50 per cent this year and to 48 per Extra dollars in consum basic rate of 18 per cent to 14 per cent. This rate applies to workers who list no exemptions and varies ac prize?" The girls handed him Kenny.

Kenny was heard to bury capitalism, Johnson declared: "No one can bury us or bluff us or beat us so long as our economy remains strong." THE PRESIDENT noted that although the tax cut was "inspired and proposed by our late, beloved" President John F. Kennedy, it cording to the number listed ers hands, he said, will be spent at the grocery or department store and the grocer and department store owner in turn will spend say as he was whisked off, "Thank you." with the employer. The tax cut for individuals, while averaging 19 per cent, varies widely. It rangs Aft. Deduct.

196J Tax Amount Tax Amount And Exempt. Tax (Under Bill) Saved (Under Bill) Saved $2,000 $400 $325 $75 $290 $110 $3,000 $600 $500 $100 $150 $4,000 $800 $680 $120 $620 $180 $6,000 $1,240 $1,080 $160 $1,000 $240 $8,000 $1,680 $1,480 $200 $1,380 $300 $10,000 $2,200 $1,950 $250 $1,820 $380 $12,000 $2,720 $2,420 $300 $2,260 $460 $16,000 $3,920 $3,500 $420 $3,260 $660 $20,000 $5,280 $4,720 $560 $4,380 $900 $28,000 $8,520 $7,580 $940 $7,100 $1,420 $40,000 $14,520 $12,900 $1,620 $12,140 $2,380 $52,000 $21,480 $19,200 $2,280 $18,060 $3,420 $76,000 $36,720 $32,940 $3,780 $31,020 $5,700 $100,000 $53,640 $47,880 $5,760 $45,180 $8,460 $200,000 $134,640 $118,680 $15,960 $110,980 $23,660 $400,000 $313,640 $271,680 $41,960 $250,980 $62,660 SINGLE PERSONS $2,000 $400 $340 $60 $310 $90 $4,000 $840 $740 $100 $690 $150 $6,000 $1,360 $1,210 $150 $1,130 $230 $8,000 $1,960 $1,750 $210 $1,630 $330 $10,000 $2,640 $2,360 $280 $2,190 $450 $12,000 $3,400 $3,040 $360 $2,830 $570 $16,000 $5,200 $4,610 $590 $4,330 $870 $20,000 $7,260 $6,450 $810 $6,070 $1,190 $32,000 $14,460 $12,960 $1,500 $12,210 $2,250 $50,000 $26,820 $23,940 $2,880 $22,590 $4,230 $70,000 $42,120 $37,390 $4,730 $35,190 $6,930 1100.000 $67,320 $59,340 $7,980 $55,490 $11,830 (200.000 $156,820 $135,840 $20,980 $125,490 $31,330 Stanley M. Smolensky, deputy director of field center development and director of long range planning. Office of Manned Space Flight, National Aeronautics and Space Administration, will be guest speaker at meeting of Central Florida Section of American Institute of Aeronautics and Astronautics at 6:30 p.m. today at San Juan Hotel.

Judging of the Central Florida and Florida State Rabbit Breeders Association Inc. Rabbit show was held yesterday. And as it turned out, before judges finished them for their own needs. In this fashion, Johnson said, "the money will circulate through the economy from 15.5 per cent up to 100 per cent for 1.5 million was passed with support of both Democrats and Repub raising the demands for goods several times the low-income taxpayers who will join the tax exempt the 319 entries had increased licans in Congress. jonnson went into some to 364 rabbits of 24 different group.

Those with very low or very high income get detail into what the new amount of the tax cut." The same will be true of the more than $2 billion a varieties. Results of the the biggest breaks. vear which business will no judging were: Adult Divit tntriei) Califorman antrtti) bt of br.d, The measure also reduced tax bill would do for a few sample taxpayers and corporations. He put the average indi Survival Talk Set cent next year. Johnson used several dor-en pens to sign the bill longer pay in taxes, Johnson said, adding: "They will Hobtor't Rabbitrv, Tampa; bst oopositt vi Blua Ribbon Rabbitrv.

DLnd. New Zealand Whit-(44 ntrit) best Fred W. McPeake, a prominent Knoxville attorney use much of this money to and handed them to the on vidual cut at "nearly 20 per cent," a notch higher than lookers with small talk. No mci 5 mill small lam. nv the basic tax liability for 550,000 corporations by about 9 per cent.

However the treasury estimates the overall effect will be to shrink corporate tax liabilities 17 per cent because of an investment credit provision Orlando. I CHAMPAGNE D'Arqent 0j ij ting that. the. late president I S. buy new machinery, for new construction, for goods of all kinds and, most impor (I entries) an earlier treasury estimate of around 19 per cent.

He said this will amount to $9.2 billion a year $8 billion est oppositt ramoa. Silver Martins bt tantly, for the creation of of breed. Mrs. best oppositt new jobs." Kennedy fought for the 1 sure, he said he was taking Are Ve Flxei Fr Surviv-the first three pens to Mrs.jal." tomorrow at 8:30 p.m. Kennedy and her two chil-at Orlando Scottish Rite dren, John Jr.

and Caroline. 'Temple, 74 W. Gore St. The measure zipped and liberalized depreciation this year of the toal $14.5 billion tax cut, which is bal through the Senate quietly 1 rules set up in 19li2. sex.

Ralph w. brimm, DeLand. Dutch-(32 entries) best of breed, James O. Collins, Bradenton; best opposite sex, Blue Ribbon Rabbitrv, De-Land. Standard Havana (4 entries) best of breed, Peaceful Valley Rabbit Ranch, Ciarcona; best opposite sex, Peaceful Vallev Rahbit Ranch.

Ciarcona. Advisory Group Meet NEW ZEALAND Red (4 entries) best ot breed, Billy E. Dodoe, DeLand; best opposite sex, Billy E. Dodoe, DeLand. Black English Spats (2 entries) best of breed, Hobby's Rabbitry, Tampa.

White Rex-(1 entries) best of breed, Peaceful Valley Rabbit Rancn, Ciarcona. Himalayan (1 entry) Peaceful Valley Rabbit Ranch, Ciarcona. Satins (U entries) best of breed, Rut-sell L. Ridino (white satin) Orlando; best opposite sex, Russell L. Riding (red satin) Orlando.

Beat Red and best white Four Water Problems Solved By Committee 'Satins, Russell L. Kidina, urianoo; oesr I Siamese Satin, Rosemary Maiott, Bra- 48-inch pipe outlet to Gatlin with tui onri hioh rnntrnl 1 English Spats-(4 tntries) best of Wlin 10W ana nign COnirOl Carol Beckntr, Bradenton; best 1 I. oe I I An, f'ooooste sex. Carol Beckner. Bradenton, levels ui oo leei ttnu leei i standard Chinchillas (a entries) nWa 9 Thai fnnntwi best of breed, Buddy Smith.

Lake auu.t. oc vviij Helen; best oppositt sex. Buddy Smith, Lake Helen New Zealand Red (5 entries) best of breed. Buddy Smith, Lake best aoonot. sex.

Buddy Smith. Lake Helen. By DON RIDER Sentinel Staff Four of five Orange County water control problems reached the solution stage yesterday in hearings held by the county water advisory committee. The committee recommended the county commission take over responsibility of the Winter Paark Pines tntries) best of breed, Rose mary vaiotf, Bradenton i best opposite Hiianv am rn. lki pie en.

cailtornians-130 tmriesi best or oreea. Buddy Smith, Lakt Helen i best opposite sex, Buddy smith, Lakt Helen. NSW ZEALAND Mo entries) best of breed, Rosemary Walott, Bradenton; best oppositt sex, Rosemary maiort, uraoen inn Meat Pen-Mediums (I entries) best af breed. Rudrtv Smith. Lake Helen.

will attempt to hold the higher level, except when flood conditions threaten. LAKE GATLIN is to be controlled by the fluctuations of adjoining Lake Conway, already controlled between 86.4 and 87.4 feet above sea level. An idea for controlling Lake of the Woods inside Orlando was considered and aired before property owners and then tabled for a committee workshop session Meat Pen-Smalls-(1 entry) best of breed. Bonnie Stiles. Orlando.

canal that drains most of the area from the east edge of Winter Park to Crane Strand. judging of show was done by Guy J. Leqer, Lakt Charles, under supervision of O. W. Barber, A pooka.

Conductor Freed From Train Bed BY DESIGNATING the canal part of the county's primary system, the commission may legally spend AND PAINT FOR HOME FIX-UP NEEDS 7.96 OFF! kJ 1 GAL. CASE a in March. Consulting engineer Floyd Groo proposed to dredge the bottom of Lake of the Woods and dike around the low side making the top of the dike 81 feet above sea level. He said an outlet pipe to Lake Copeland of 48-inch diameter would be adequate if a fluctuation from 72 to 79 feet in the lake level were allowed. Red Commander Dies Wr! 5' i tuy CLIFTON FORGE, Va.

Walter J. Kochen of Fort Dearborn, a Pullman conductor narrowly escaped suffocation yesterday when a Pullman berth snapped shut on him in the Chesapeake Ohio Railroad coach yard. Kochen was asleep in the upper berth when the cable holding the berth open broke. The berth closed and pinned Kochen against the wall. The Clifton Forge rescue squad was called, but railroad employes freed Kochen with an automobile jack.

MEMORY QUEEN PRAGUE Gabriele, Ambrova, a 20-year-old nurse with an amazing memory, can repeat a 30-digit number backwards within seconds, the official news agency CTK reports. from the two mill water control tax on the canal's upkeep and enlargement. The cost is expected to be $150,000 when the area is fully developed. A $23,000 solution (not counting right of way cost) to the frequent flooding of little Lake Tyner got the committee's approval. The plan calls for an outlet to Lake Jessamine via 730 feet of canal and 430 feet of 48-inch pipe.

A majority of property owners on Lakes Jennie Jewel and Gatlin attending the hearing agreed with the committee's recommendation of control levels. Jennie Jewel will get a L-z I I INO PS ffjrV I lliongai Ition lO'll, I lJ I fl aW i Fqottl. tvQtrtnq, GAL XWfflMT TOKYO Peking radio yesterday said Chou Pao- in Chung, who commanded Chinese Communist guerril REG. 5.98 GAL. las against the Japanese in Manchuria, died in Peking fUll WIDTH SIDC RAILS of t.mp.r.d oluminum 40 lliong.r Hian wual aluminum or magniiwni alloyi.

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