Masonry Magazine June 1975 Page. 26
26
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Washington Wire
(Continued from page 25)
The idea is a way of stimulating capital formation. Some $4 trillion will be needed over the next decade for capital investment. Currently, dividends reinvested by shareholders in a corporation are taxed-though, under automatic reinvestment plans, the owners do not see the money.
Consideration is being given to changing taxes on corporate profits. Currently, corporations pay a tax on profits, and investors also are taxed on the money dividends paid from profits except for a small exclusion. As a result, the same profits wind up being taxed twice by the government.
THE GOVERNMENT IS EASING SOME REQUIREMENTS under the new pension law. The Labor Department has granted an extension for filing complicated reports. All it is now requiring is the filing of a much simpler report this year. Congress will also make it clear that the law doesn't require vast changes in the management and administration of pension plans businesses provide.
Congress is disturbed by the over-reactions to some of the new provisions. Some companies have dropped pension plans because of the new costs involved. And some plan trustees are quitting, citing the new regulation of their conduct.
(Continued on page 28).
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1 2 3 HANDLE: Wood Plastic
Circle length: 10" 11" 12"
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masonry • June, 1975