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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Nov. 7, 1963)
MEDFORD MAIL TRIBUNE, MEDFORD, OREGON Tax Reduction May Influence Future Policies for Economy XT I -r mi . ... THURSDAY, NOVEMBER 7, 1863 WASHINGTON (CO) - Tho success or failure of the Ken nedy Administration's tax pro gram will exert a major inllu cnce on future govern m e n t methods of economic stabiliza tion. If the public accepts the prin ciple of reducing taxes to pro mote economic growth the principle embodied in the tax bill now in a Senate committee it could provide Government officials with a new method of countering recessions. More over, should a major economic stimulus result from enactment of the tax bill, it would be used as an argument for further in novation with tax policy to smooth fluctuations in the na tion's economy. These implications of the $11.1 billion tax reduction bill have been little discussed, partly be cause the implications would not be evident in the immediate future and partly because the Administration apparently fears a hostile public reaction to such an economic role for the Fed eral Government. But- the principle reason for overlooking the issue appears to be that the battle over the tax bill has been joined on the im mediate and practical grounds of economic prosperity. Admin istration spokesmen have repeatedly argued that tax reduction is necessary to free the economy from five years of inadequate growth. They also assert that a recession in the near future is more likely than not in the absence of tax cuts. .Opponents -reply with an equally practical theme: taxes must not be lowered without a corresponding cut' in Govern ment expenditures. The opposi tion to rising expenditures has been the principle hindcrance to quick passage of the bill. Planned Deficits Some opponents, particularly Rep. Thomas B. Curtis, R-Mo., also challenge the Administra tion on other grounds. Curtis as serts that President Kennedy "is advancing a new and untried fiscal theory for the United States, the theory of deficit fi nancing, the theory of planned deficits." Curtis chides the Administra tion for refusing to talk about planned deficits despite Ken nedy's June 1962 speech at Yale University in which he called for a national debate free from political cliches about the Federal Government's size and fiscal policies. Demand Stimulation The Administration's fiscal policies have, been aimed at ex panding economic activity. Es sentially, the federal budget de ficit meant the Govern m e n t seeks to stimulate demand in the economy by spending more than it is taking out in tax rev enues. Government spending to stim ulate lagging private demand has attained increasing public acceptance since New Deal days. But in the postwar era, Administrations have not delib erately undertaken deficit spending plans as an expansion ary device for the economy. In this regard, history prob ably will credit the Kennedy Ad ministration with breaking new economic ground. The Kennedy aconomists must also take the responsibility for deliberately adding tax policy to the Government's chest of tools for tinkering with the na tion's economic mechanism. The burden of responsibility is made all the greater by combining de ficit spending with tax reduc tion. Postwar Tax Reductions The U. S. has had postwar ex periences with tax reductions (1948 and 1954), but they were viewed as tax reforms and not as economic stabilization mea sures. Nevertheless, many econ omists credit those tax reduc tions with softening recessions in 1949 and 1953-54. The use of tax policy to in fluence the nations economy was discussed in the Eisenhow er Administration and in Con gress at the time of the 1957-58 recession. Again in the summer of 1962, when it was feared the recovery from the 1960-61 reces sion was slowing, there was. talk of a "quickie" lax cut. No action was proposed at either time. Public acceptance of the tax reduction principle contained in the bill now before Coneress would increase the likelihood of fiscal policy being used more in the future to reduce fluctuations in the economy. The economy already has a number of automatic stabilizers that work without the need for policy decisions by officials. The most important ones are the personal and corporate in come taxes and unemployment compensation. If, as in the past, the nation moves toward more sophisti cated methods of stabilization, the next step may be in the direction of temporary fluctua tions in, the tax level in re sponse to changing economic conditions. Kennedy already has ad vanced one proposal. He asked Congress in 1962 for standby discretionary authority to . cut personal income taxes a maxi mum of 5 percentage points for six montns, with the right to extend the cut another six months. Congress would have the right to veto any such legis lation. Congress, jealous of its tax writing authority, did not even consider the proposal. What has been called the "puritan ethic" opposition of many Americans to cutting taxes while the federal budget is unbalanced suggests that the economists who favor new in novations with economic stabili zation have yet to win general acceptance for their views. For this reason, the success or failure of the Kennedy Adminis tration tax program in achiev. ing economic growth undoubted ly will have an important in fluence when new economic stabilization policies are de bated in future years. (Copyright 11163, Congressional Quarterly Inc.) Miliar' t Favorable Outlook for Investments Is Expected D 5 A favorable outlook for in vestments for the remainder of 1963 and well into 1964 due to higher and better quality earn ings and expected dividend in creases was reported here this week by Edmund E. Hass, vice president and manager of the Medford branch of Pacific Northwest Company, and Bruce T. Mills, registered representa tive ot the company, on their return from the annual sales convention in Seattle. It was the concensus of the New Semi-Conductor Saves Recharge Time NEW YORK (UPI) - ,A new semi-conductor called the stabistor" is what enables makers of shavers and other de vices using rechargeable nickel cadmium batteries to cut re charging time from 15 hours to about one hour. The stabistor is technically de scribed as "a controlled double layer diode with a low dynamic impedence. It was developed un der an Air Force contract by P. R. Mallory and Co. ot Indianap olis. KEEPING WARM - "Miss United States," 18 year old Michele Mctrinko, foreground, of New York, clutches her long coat about her as she tries to stay warm during the bathing suit event of the Miss World pageant in London. Others are, from left, Louise Crous, 21, "Miss South Africa"; Sonja Russ, 18, "Miss Austria", and Susie Gruner, 19, "Miss Germany." (UPI) TOURNAMENT SCHEDULED EUGENE (UPI) -Nineteen colleges and universities from the Northwest are to partici pate in the sixth annual Oregon Forensic Tournament Friday and Saturday at the University of Oregon. HAIR-RAISING COSTLY NEW YORK (UPI) - Ameri can men spend about $75 mil lion annually to keep their hair well groomed, according to Printers' Ink, the weekly maga zine of advertising and marketing. Convicts Used To Study Methods in Healing of Wounds By DELOS SMITH UPI Science Editor NEW YORK (UPI) - The arms of seven convicts pro vided an impressive if tenta tive answer to the old question of whether a wound heals faster when it is bandaged than when it is left exposed to the air. The San Quentin Prison in mates volunteered the experi- Pacific Northwest Company that statistically speaking the general earning trends of cor porations are of good quality and the market high at present not high when compared to its 1961 level. Leading topics discussed at the annual meeting were muni cipal bond department, trading department and institutional de partment. Speakers appearing on the program included Milton Lewis of Natural Gas Securities, one of the leading utilities analysts in the United States, Hass said. Others were William Street, chairman of the board of United Pacific Corporation, parent company of Pacific Northwest Company; Robert Hansbergor, president, Boise Cascade Cor poration; William Moseley Jones, president, Pacific. Sav ings and Loan Association; John Rupp, vice president and gen eral counsel, Pacific Northwest Bell; Warren Raymond, presi dent, Equity Fund, and Robert Daniel, president of the Pacific Notthwest Company, Salt Lake City Voters Re-Elect Bracken Lee SALT LAKE CITY (UPI) -Veteran Campaigner J. Bracken Lee, a conservative who op poses the income tax and the, United Nations, was picked two-to-one by Salt Lake City voters Tuesday for his second four year term as mayor. . ..' SAVE FOR THE FUTURE Just as the industrious beaver plans for the winter ahead, wise people save for retirement income, their children's education or for a better way of life. Regular deposits in a sav ings account- at The Oregon Bank are iutly insured, as they grow. Plan for your future at The Oregon Bank. ' - theoreaon ,A LJbank' 1 'CJBtT " WE RE EAGER TO SERVE YOU! PORTLAND East Medford 701 E. Jackson St Rogue Valley 1 109 Court St. Member Fedaral Deposit Insitranca Corp. ana hadaral Reserve byktem. ISO NEED FOR, A HEAVY FOOT! When you first take the wheel of a new 1964 Cadillac, you're going to be amazed! For this latest "car of care" has attained a level of performance you have never before experienced. To be sure, there's greater smoothness and quiet. There is also increased agility and handling ease. And, above t il, there's added power, acceleration and responsiveness. There is no need for a heavy foot in this dynamic car! Cadillac's new performance is the result of many advancements throughout the power train. The engine is new and it it the meat powerful in the ear't history. The famous Hydra-Matic transmission has been redc- A xJro-at( epfin tombining footing and att eontiiiinning. signed to provide the most responsive operation of all time. And a new Turbo Hydra-Matic on some models assures true brilliance of performance. All in all, Cadillac is more than a hundred ways new. Its new styling is elegant as never before . . . with a divided grille that makes it unmistakable on any high way. Its interiors are unusually luxurious. And its new options include an exclusive Comfort Control" that lets you pre-set interior temperature exactly to your liking and hold it season to season while at the same time controlling humidity. Visit your dealer soon and get ready for a surprise! mental use of their arms by Cameron u. Hinman ana How ard Maibach of the University of California, School of Medi cine, San Francisco. Hinman and Maibach took slices of skin from each arm tiny slices about one-fifth of an inch long, but deep enough to include the top-most skin layer ana tne layer beneath, it was painlessly done, of course, un der local anesthesia. Half of each man's wounds were covered over with poly ethylene film which is the ulti mate ot air-exclusing bandage since it admits no air whatever, The other wound was left ex posed. Skin Samples Studied On the 3rd, 5th, 7th and 9th days after this slicing the scien tists punched very tiny samples from wounds, sliced tne sam ples and then studied the slices under nign magnification. The wounds which got no air began acquiring a covering of new, healthy skin so much more rapidly than tne open wounds there was no need to measure to prove it, the scien tists reported. But measure they did and in all comparisons the bandaged wound healed two to five times faster than the exposed one. By the 7th day all wounds were covered over with new skin, however, and by the 9th all were completely healed. The scientists were reserved in describing their experimental results in the technical journal, Nature." In the past, they said, excluding all air from wounds invited infection be cause tight dressings created moisture which permitted mi crobes to multiply. Infection Danger Lessened But now skin infections can be prevented with antibiotics, they continued, and there was not a sinele infection in their subjects thanks to the generous use of an antibiotic solution. "We do not know whether these observations will fall in the realm ot biological curiosity or It they will have practical importance in the treatment of cutaneous (surface) wounds and burns in man." The ultimate answer will be given by surgeons and physi cians emboldened by this ex periment and a previous one of George D. Winter, English ex perimental scientist, to keep the air out of the wounds and burns of large numbers of patients. Winter's experiments embold ened Hinman and Maibach to undertake theirs in human be ings. Winter experimented with pigs. He found pig wounds heal faster when their surfaces are moist than when they are dried out by exposure to aid. Like the Californians, ne prevemea in fect on with antibiotics ana ex cluded air from some wounds with plastic coverings. MORE TEMPTING THAN EVER AND JUST WAIT TILL YOU DRIVE IT-SEE YOUR AUTHORISED CADILLAC DEALER SKINNER BUICK-CADILLAC 143 SOUTH RIVERSIDE SAKE "TECHNOLOGY" NEW YORK (UPD-Thc skill of the typical professional safe cracker today is far greater than that of his counterpart who operated in the days prior to World War II. says the Safe Manufacturers National Associ ation. This upgrading has stemmed largely from war-Inspired technological improvements. 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Tip plastic frame over and shake to erase 3.25 10' MUSICAL TOP Pump plungerup and down, lop hums merrily as it spins around. Brightly colored metal, poly buss 88c 16"B ABYSWEETUMS BABY'S BUSY BOX Ten activities built into one. Dials, cranks, wheels to turn, doors lo open. Fits crib or playpen. 4.29 DRINKS, WETS, CRIES REAL TEARS Every little girl wants to hug Baby Sweetums. Has big lashed sleeping eyes', rooted platinum hair, movable vinyl arms and legs, Wearscandy striped pinafore. Wbottle. 4 29 REG. 4.95 BARBIE' TEA SET 29 pieces in all, with pretty Barbie doll pictures on plastic plates, saucers. Serves 4 tots.., 1.98 jtai Pacing j
