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About Capital journal. (Salem, Or.) 1919-1980 | View Entire Issue (Sept. 21, 1950)
X Highlights of New Tax Shows Full Impact to Come in 7957 By JAMES MARLOW Washington, Sept. 21 W Here are a few highlights about the new income tax increase. It ranges from 2014 per cent on people In the lowest income brackets to lite per cent on those in the highest. But this increase won't hit you all at once. The full in crease will be applied only to- your 1951 Income, not your In come this year. On your 1950 Income only one quarter of the increase is ap plied. For example: Say you're In the lowest bracket now and the increase on you will be 20 per cent. When it comes time to settle up in full on your 1950 income tax, you'll find that the in crease is only one-quarter of 20 per cent.- But in 1952, when you settle up on 1951 income, you'll find your tax has been raised 20te per cent on your whole 1951 income. This sounds complicated and a reader's first impression is probably something like this: "What a headache I'm going to have when I make my tax re turn on 1950 income." Not so. Most people will do as they've been doing for years: They'll get a receipt from their boss on the tax withheld from them during the year. Then, without any figuring of their jwn, they'll turn it into the tax collector, together with a sim ple form that they must fill out. He'll check it over to see that it's right. If they've been over taxed, he'll give them a refund. If they still owe some tax, he'll notify them. Then there are those who use the so-called 1040-short form. Although they don't figure out their tax, they find It in the table on the back. They'll do the same when before midnight, March 15, 1951 they file their tax return on 1950 income. They'll do noth ing differently but . The fig ures in those tables, because of the tax increase, will be a little higher. And then there's the third group, as in the past, the people who must figure their own tax. They'll do exactly as in the past. ine only difference will be in the percentages. This will give an example of how the tax will be increased on 1950 income only one quar ter of what it will be on 1951 income. Jones, a single man, has a net income after deductions of $3000. That has been his salary for sev eral years and will be for sorne-time. In 1B50 when he made his 4 rplnrn -mi. 1QdO Inmnm hls'fnv W $409. In' 1951 when he makes his return .on 1950 income his tax will be $428. But in 1952 when he makes his return on 1951 Income his tax will be $488. Or take Smith, who claims four exemptions himself, wife and two children and makes $5000 The tax on his 1949 in come was $432, on 1950 income it will be $452, and on 1951 in come it will be $520. Meanwhile, starting October 1, your boss will hold a little higher tax out of your pay. This is to keep you as much as pos sible on the pay-as-you-go basis. Special Church Meet Hears Bolivian Pastor Butteville The Rev. Juan Ayllon of the Evangelical church of Bolivia was the principal speaker at a special service Sun day night. Rev. Robert S. Hampel of the Aurora-Butte- ville churches announced. Rev. Ayllon is one of the leading Protestant ministers of the South American Republic of Bolivia. He has been instrumen tal in the founding of many churches and mission stations and is, at present, the pastor of a large church. He has just come to this country from an extensive tour of Palestine and Europe. Ayllon's son, Juan, has been living in the Butteville area .for the summer months, and at pres ent is attending Washington State college, where he is ma joring in chemical engineering. Praise Lebanon Civic Activity Lebanon A capacity turn out at Monday evening's fall kickoff Chamber of Commerce dinner heard Portland Chamber President Edgar W. Smith praise the Lebanon area for earning a reputation throughout the west as a pace-setter in regional de velopment. Citing the fact that civic im provement is the essence of eventual industrial expansion Smith praised Lebanon for its street paving progress, sewage disposal plans, school develop ment, and above all, for its rais ing a half-million dollars for a new hospital. The Portland chamber presi dent stated that this area has enjoyed wide notice over the lo cal self-reliance demonstrated in its recent hospital campaign. Smith, who is also chairman of the state board of education, talked on the general topic, "The Community and World Affdirs The guest speaker was intro duced by the local chamber pre sident, George Britton. The business session preceding the address saw strong action taken on the Lebanon-Brownsville road situation. Committee reports were ac cepted without comment except the one on roads reported by chairman K. P. Sims, who ex plained the present plans of the county court on the improve ment of communications be tween Lebanon and Brownsville. Hiram Groves touched off discussion when he moved that the Lebanon chamber go on re cord as being "not the least in terested ' in the existing plan of I the county on the route between the two cities, and that Lebanon divert its entire efforts for the shorter hill - road route to Brownsville, via Lebanon's S, Main street. Win a $20000 Keepsake BE YOURS! DIAMOND KING At . BROWN'S Liberty ot Court Exclusively . VUGS tho Total Numbv ef Keepsake Dhmnit -tu fit Pitpltf in Our Window. Contest Starts Friday, Sept. 22, 6 P.M.; Store Open Till 9 P.M. There's only ONE graded margarine I'VE NEVER TASTED MARGARINE AS DELICIOUS AS THIS THAT'S BECAUSE IT'S DURKEE'S OWN GRADE AA See. Jfl, Capital Journal, Salem, Ore., Thursday, Sept. 21, 1950 I Ladies' HANDBAGS TOP HANDLES GOLD FINISH FRAMES CHOICE OF FOUR COLORS YOU BET! js. 4.00 ELECTRIC Xf&Uy JZf 1 50 flTM ? f I ses Regular Ink IG ft Cutlery Trays r0LM VIcilHRWCE I I . twine!) n'l lert. FLAT .Zi - " -Tr 1 I . ,..., . COMPARTMENT fi SU ?' 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