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.’01 and Associates E2306 Lake Austin Blvd. Austin, Texas 78703 REALTOR Representing all types of properties in Austin and Central Texas Interesting & unusual property a specialty 477-3651 \(275 Life Insurance and Annuities Martin Elfant, CLU 4223 Richmond, Suite 213, Houston; TX 77027 Suitife AUTOGRAPHED BY BEN SARGENT! HOW THE CRITTERS CREATED TEXAS by folklorist, F.E. Abernethy, and Pulitzer Prize winning cartoonist, Ben Sargent. Second Printing! Order your autographed copy now C M Publications 6110 Hwy. 290 West Austin,TX 78735 Texas residents send $10.00 \($8.95 book, S.45 Out of state $9.55. on European vacations and so forth would find a large portion of their earnings untaxed as well. The big losers under a national sales tax or any of the other so-called “consumption taxes” currently under consideration by the Treasury would be middleand low-income families. A 10 percent national sales tax, for example \(even with the predictable exemptions for certain kinds of spendthe typical middle-class family’s federal tax bill. The big losers under a sales tax plan would be middleand low-income families. Particularly hard hit would be people who spend more than their incomes. That would include the poor in general, the unemployed who have to borrow to put food on the table, retired people drawing down on their lifetime savings, and so forth. \(A national sales tax would be doubly unfair to the elderly; having paid taxes all their lives on their incomes, they would find themselves taxed again when it came time to spend A Better Idea Of course, there is an alternative to raising taxes on those least able to pay them. Closing the loopholes and cracking down on the shelters that allow so many companies and rich individuals to avoid paying their fair share could raise truly astronomical sums. Corporate loopholes alone, for example, will cost the Treasury $87 billion in the next fiscal year \(considerably more than companies getting rid of the shelters could do wonders for the economy by pushing businesses out of crazy tax-avoidance schemes and back into productive, jobcreating investments. Walter Mondale’s tax program takes some beginning steps toward economyenhancing tax reforms, and for that he should be credited. Another good thing about the Mondale program is that most Americans would not be asked to pay more in taxes. But next year could provide the opportunity to go even further toward making sense out of the tax laws if Congress and whoever is President are ready to show some leadership. A comprehensive restructuring of the federal tax code, such as the “Fair Tax” plan put forward by New Jersey Senator Bill Bradley and Missouri Congressman Richard Gephardt, offers a simplified, but still progressive tax system without all the baggage that has accumulated over the past 70 years. And, because the Fair Tax retains only a handful of tax concessions \(mortgage interest, property taxes, and a few others impora wholesale reduction in statutory tax rates. Most people would pay a maximum rate of 14 percent on their taxable incomes, and even the top rate \(on would drop to only 30 percent. Change those rates to 15 percent and 31 percent and adjust the provisions governing the way businesses write off their plant and equipment investments and the Fair Tax could raise $70 billion a year. And such a deficit reduction program would not require added sacrifices from most Americans. An anti-shelter, lower-rates tax reform program ought to have some appeal even to the Reagan administration that is, if it really believed in marketplace economics and fairness for all Americans. Unfortunately, so far the administration has shown more loyalty to its wealthy constituents than to the uplifting themes President Reagan presents so well in his speeches. If Mr. Reagan is reelected, voters should pay close attention to their pocketbooks when the President announces his “last resort” tax plan. 1=1 NOTICE TO OUR READERS For our 30th anniversary in December, we are planning to give recognition to individuals or organizations whose work has staved off the forces of evil or has contributed to the making of a more progressive Texas. We welcome your suggestions with any supporting material you care to provide.0 cs ……. STATEMENT OF OWNERSHIP MANAGEMENT AND CIRCULATION A…4N l . 420 IA TITO Of /1.01.1CATIOM 111. Twos Moon. /8 001LICATION 40 0101 6 101615 Il 1 MATI 0,1,0.04 9 514 30. 1986 I. 0MICANNCV Of ISSIA. 1111900 except for theree-mmk lteRrral 12001/11 U1001. UN. par, DE Jasowry & Jay l 00 ,23.0 N04.1.2.10 wA Z” 2 040t/tAtiLMIS00 ,0001 $23.118 ON Us compute NA… A001.223 00 .0.4 0 ace cr 0010..0.1.04 ism Or, r,…0. ……s….. ,.., …a ….. 600 SRA Some*, 160.16, traria, 7.o.. 78701 S. …LEN …….0 woo9Iss oe .11.000SIAPr , RE gliT07?.1.2 C. 1 ,4 re………….. 600 1Nst &math, Areet3n e :7rar1., T. 78701 A. FULL M1.45.0 CONOLETIYA30.00 A0000.10 0, PUOL.M12.A.M1TOM..0 MANAG.0 20.01A Tr ham .71,01,11, la/ 10101.1.20 \(……/ Co…..m…, ……, Recede Dover, 600 Sort &math, alverLER, Spa. 713700 co. ,. he 0022169 21p.,603 Wart Svsntb, /testis, T.. 70701 MA…01.40 1.0120000.4…C..0.0. MA. A…1 ‘ =.5Zir::gc.A77:4:::07:=7:wr0 …7:=4:t.= :…’sr:.. ….”0,==…..Zr e =1 Mr*. 1/…., A..* …..n…./.*.A.0…..s…….f.A.m. ……… , nr aant……. 1 …. 0….. o, ‘v….on Am a …. Ts Amen.. 00.a.00….,…………2 m…….00,00………….mm I fUll App 1 MOSE TIA000.0 00.10. n. .r i 600 61 3Everth Syrtis, Neen 78701 ..rue /ere ts”:01.”:6 5….etaratiietiViig.aire7;:”==”””‘”‘ ‘””””‘””””‘””” FLPLL Wan t COIAILITIO.1040 A00.27 .010 zzt-=v…=.:..?… -:::=,..:,..–cl:::!zt:..:Lr. ,:…—.%….-..:-=’,,-;;,:ttr , o: , ..A.L,…1;t:,,,. …,’., …..0 hATLAt t CO.:10..A 0 OM I ‘1VIZeV31100 ,’,.:Ir ;14aW0 ” Willi rE0:! ..ifiRITTT A TOTAL MO. 00022 rie In. II..1 11,173 32,200 0 PAM C.I.PLAIMM I , ..,,,,,,,,..,…,…………..,…,…..,……. i 183 WO 2 Vs , 0.wywdon 9.998 10.893 110 11.I23 672 C TOTAL MO CUICOLATICA /….11101 Awl /000., 10d01 .. 121,,17,=”” “Lier%Teltira c el “‘” “Er 137.___ 10,568 2. TOTAL 012-011120710M1 \(.. ff Caul Cl V COMA WOT 0.01710,20 1. 00……00…*A.100.a .0. fenmm 631 ,.A……..,… IA las 0 TOTAL …, of C. PI .. :-….. el.. ., I …., 123 I 01001002L A .1.22.1 MANACTA VI 00.21.1 i oenley chat 0.0marnenocemleaRY s’. 7 =. nee Mao. ere corn. Ned ample.