Masonry Magazine August 1975 Page. 25
Washington Wire
BUT TAX REFORM ISN'T GOING TO BE A ONE-WAY STREET for U.S. business. Certain existing benefits to industry may well be repealed by the Congress. Domestic international sales corporations (DISC's) are under strong attack. They were set up as an export-spurring tax incentive for large businesses. Opponents claim the program is of little benefit except to corporations. They note the revenue loss since passage has far exceeded advance estimates.
But Treasury is urging that the DISC program be let alone. It provides a big cash flow in a time of capital shortages.
CERTAIN TO BE APPROVED ARE SOME REVISIONS the House voted last year, but which never got to the point of being acted on, finally, by the Senate. Among these provisions are a tightening of the minimum-tax on individuals; a limitation on tax-shelter accounting losses; ideas for simplified returns; elimination of withholding taxes on foreign holders of American investments; and capital gains changes, like a one-year holding period for tax benefits.
CONGRESS MAY ALSO EXTEND THE TEMPORARY BREAKS small companies are now enjoying, instead of letting them expire at the year-end, as scheduled. Right now, the first $25,000 of a corporation's earnings are being taxed at 20% down from the original, long-standing rate of 22%. The next $25,000 would remain at the present 22%, instead of reverting to the 48% that now obtains for all income over $50,000 a year. (The savings are really big.)
The same desire to spur recovery that may mean extension of individual tax relief could also mean some for small firms.
THE 100,000TH MULLER MIXER
Sold! to General Supply and Equipment Company Incorporated of Baltimore, Maryland the 100,000th Concrete Mixer manufactured by Muller Machinery Company of Metuchen, New Jersey. Receiving an engraved congratulatory plaque from F. N. (Bill) Bennett, Sales Manager of Muller is Bernie Gisriel, President of General Supply. Board Chairman Colin Innes proudly looks on.
SUPER AUTO-LOCK SCAFFOLDING
Build 'Em High, Long or Wide! Combinations To Fit The Toughest Job Requirements!
Economical! Reliable! Tubular steel scaffolding welded for heavy duty. Scaffolding has patented "Auto-Lock" device. Simply put flag down, scaffolding is locked. Raise flag to release. Head fits securely over stud to eliminate play between brace and frame. Adaptable for interior and exterior use.
A BLISS & LAUGHLIN industry
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542-H Osage, Kansas City, KS. 66110
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August, 1975
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