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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Nov. 18, 1962)
8 B SUNDAY. NOVEMBER 18. 1962 MEDFORD MAIL TRIBUNE, MEDKORD, OREGON Kennedy Faces Fiscal Decision By EDWARD COWAN United Fre International Washington -IIIPD- Presi dent Kennedy must come to grips shortly with the task of resolving as complicated a tangle of fiscal choices as has confronted a chief executive in many years. His decisions and the re sponse of the new 88th Con gress may be of major sig nificance to t h e national economy. His proposals may touch off a roaring congres sional fight which could bear heavily on the 1364 presidential election. The spade work which must precede the Presi dent's decisions is under way in the massive stone buildings which flank the White House the treas ury and the executive office building, which housed the budget bureau. Drafting Reduction Treasury tax experts are drafting a tax reduction-and-reform package for sub mission to the new Congress in January. Kennedy has promised tax relief in 1063 to corporations and individ uals in all Income brackets. Budget bureau officials are drawing up plans for government spending in fis cal 11)64, the federal busi ness year which begins next July 1. Kennedy is expected to submit his 1964 budgets with both spending and tax proposals to Congress in January. It could easily climb to $97 billion. The President must de cide how much tax relief to propose. Most adminis tration officials feel It should be at least $5 billion to $7 billion to give the economy a potent, lasting shot in the arm. But even before taking . tax reduction into account, it appears that the 1964 fed eral budget will be several billions in the red. Lower ing taxes will widen the deficit although admin istration officials claim that in the long run the stimulus to the economy will pro duce higher tax revenues and budget surpluses. Risk of Inflation 1 How big a deficit can the President plan without courting the risk of Infla tion? Do political consider ations dictate keeping the deficit smaller than the record peacetime red Ink margin of $12.4 billion post ed under former President Dwight D. Elsenhower? Kennedy haj cited the 185H deficit in replying to Elsen hower's criticism of New Frontier policies. There Is the question of tax reform. The administra tion would like to close some of what it regards as loopholes in the present tax code. That is, It would like to make more income sub ject to Income tax, as dis tinguished from no tax or the relatively low capital gains tax. It would achieve this by modifying or re pealing provisions of the tax code which directly benefit relatively few taxpayers. One such provision is capi tal gams taxation of slock option profits. Meant Different Things But one man's loophole Is another's just desserts. Labor unions would favor the slock option change but firmly oppose making sick pay taxable. Tax reform has won lillle praise from some of the most vociferous ad vocates of tax rcduclion. In short, "tax reform" means different things to Credit Salesmanship Course Scheduled Here A course in credit salesman ship, specially designed lo meet the needs of the small businessman In Oregon, will be offerer! In Mcdforri Mon day and Tuesday, Nov. 20 and 7 ' Sessions arc scheduled from j 7 lo 9:30 p.m. in room 2'J4, Herliick Junior High school, i The course is sponsored by j general extension division of the Oregon slate sstem of higher education. j Anyone engaged In sales nr customer contact will benefit , from attendance at the two! sessions, according to Don Low, director of business and public administration pro grams for general cxiension division. Enrollment is open to all Interested persons. The fee is $10. and includes lext material. Registrations may be completed at the first class meeting. Instructor Garland It. Read, director of public relations! fur Credit Bureaus, Inc., Sa lem, has bad experience in retail, industrial and door loj dour selling, as well as credit i and oflire management. He teaches credit management 1 courses in Oregon, Washing-1 ion, and Idaho. j Topics Lilted Topics to be discussed on 1 different people, not the least of them members of Congress. It has been lik ened to a bitter pill which the administration must sugar-coat with tax rate re duction. Officials fear that without the sweetener Con gress will not swallow the pill. Which leads to still an other ticklish problem. President Kennedy's eco nomic advisers favor reduc ing taxes as soon as possible to infuse new vigor into the economy. (It has shown lit tle vigor lately.) Walter W. Heller, chairman of the council of economic advis ers, has warned publicly that the economy may dip In the first half of 1963. But tying tax reduction to tax reform may bog both down. Untying them may doom tax reform. Although most everyone is for tax reduction, some members of Congress attach an important condition to their support. Conservatives such as Sen. Harry F. Byrd (D-Va.), chairman of the tax writing Senate finance com mittee, have said that spend ing should be reduced si multaneously with a tax cut. Former President Ei senhower has also called for less spending. Out of Question Heller and Treasury Sec retary Douglas Dillon have ' said that less spending Is out of the question. Budget experts estimate there will be a "built-in" rise of $3 .billion or more in 1964 spending. There Is a good prospect that the budget will be in the red not only in fiscal 1964 which ends June 30, 1964, four months be fore a presidential election but also in fiscal 1965. That would send Kennedy up for reelection in Novem ber, 1964, with a record of four deficits and no surplus es : certain ammunition for his opponent. Kennedy may decide that for the sake of appearaiccs the spending increase he proposes in the January budget should be held down as much as possible. Any rise at all is bound to be greeted by the criticism that the President la charting a reckless course. Express Their Case When appealing to the public, the conservatives ex press their case in terms of familiar homilies about bal ancing the family budget. Administration liberals and the President believe the homilies are irrelevant that federal finance is not bound by the rules which govern family finance. There is a considerable body of opinion among pro fessional politicians that the economic sophistication Kennedy propounded as a substitute for homlletics will nol go over with the public. This view holds that many citizens will find it easier to accept the charge that the administration is Indulging In verbal sleight-of-hand to mask fiscal reck lessness. Still other political pros have advised the President not to worry about fiscal Irresponsibility as an issue. They assert most voters do not lake much interest in it one way or the other. They believe that more concrete issues peace or war. jobs or unemployment, Irlcntifi ration of the administration Willi the common folks are more decisive. Monday niclil during the first session inrlude: (1) why crea tive selling: (1!) look at the nmrkrt, slatistics alronl cus tomers and anticipated sales in the loral county; 13) credit sellinR, how to make credit, work to bring more custom ers into the .iore; (4) scllinc "word-wise," don't be content with meaniiiKless and Ineffect ive words when verbal dyna mite can be effective. On Tuesday. Hie second ses sion will cover: (0 telephone selling, usini! the telephone to obtain better appoinlinents. to create the ...ale and to sell more merchandise; proven sales approaches: snucestive selling; ,) the salesman, how to become belter, mental qual itications for a good salesman, nine sales lips; ,;n i,,,. rll!,tonl! er. todays biuum motives, undersliinduu! the mental processes that take place in the mind of the customer on every sales approach; Ml (lie presentation, know the mer chandise and eflectivelv per suade the rti.slomer to buy, upiirariinR the sale, suituesiive selling; tS) the close, seven techniques to be used In sue eessfully rinsing the .sale, turning n dissatisfied custom er Into a loyal booster, build ing future sales. jlHllllllHI-1 iWrnaW m a II II III! I I mmiiM, ..hribWn-ri iffigj W I iWktA DINETTE SETS chain. Juil 2 ttti litltd chain. Juil 2 ttti litltd btlow: 5-Pe. DINETTE SET including reg. $70 7-Pc. DINETTE SET tmm tnOSS PV Only I! 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