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Publication: European Stars and Stripes Sunday, July 27, 1986

You are currently viewing page 4 of: European Stars and Stripes Sunday, July 27, 1986

   European Stars And Stripes (Newspaper) - July 27, 1986, Darmstadt, Hesse                                Page 4 the stars and stripes sunday july 27,1986 House tells Senate to alter its tax Bill to pay for shortfall Washington up House lax Reform negotiators gave their Senate counterparts an ultimatum saturday that they must find a Way to pay Tor the $21billion shortfall in the Senate Bill before there can be any major compromising. Meeting in a rare weekend session the House members told the senators m a closed session of the conference that be fore any substantial Steps can be taken on writing a final tax Reform Bill it is the senators responsibility to change their version so that it will not lose Money. We were making it Clear that the Ball is in the Senate s court in terms of Mak ing up the shortfall said rep. Donald ease a Ohio a negotiator on the panel that is trying to reconcile differences be tween the House and Senate tax Reform Bills. Friday the House members tentatively agreed that As a starting Point for writing a Compromise Bill they would try not to exceed the maximum 27 per cent individual tax rate and the 33 per cent corporate rate approved by the sen ate. The Senate has boasted that its tax rates which Are much lower than those included in the House Bill Art the most attractive part of its package and cannot be changed. However the Senate delegation last week became faced with an unexpected problem when new estimates showed that instead of being Revenue Neutral its Bill would Worsen the deficit by $21.2 billion in the next five Yean. The senators also seemed to agree that they need to find another $5 billion in pod of whales moving off Florida coast Naples fat. A about 40 Pilot whales moved into the Gulf of Mexico from Florida s West coast As researchers studied seven dead Pilot whales in an attempt to determine what caused them to come ashore. The whales probably the same ones that tried to Beach themselves thursday on Marco Island were seen five Miles offshore Friday morning said Florida Marine patrol maj. Ron Mccullers. Marine patrol officers tracking the whales by helicopter said the pod of 40 whales seemed to be moving out to sea. That s a Good sign according to Glenn Young curator of mammals at sea world of Florida in Orlan do. If whales try to Beach them selves once they usually keep try ing to head ashore he said. Sea world sent a team of biologists to Marco Island on thursday to perform necropsy is that might explain Why the whales came int shallow Waters of the Marco River on wednesday night More than 100 rescuers helped most of the whales make it to deeper Gulf Waters thursday but seven whales died. Aid to the Middle class if their Bill is to be As generous to Middle income Ameri cans As the House measure. Those two factors placed the senators in the uncomfortable position of trying to raise substantial amounts of Money without altering the major parts of their Bill such As the tax rates which they have declared sacred. Sen. Lloyd bunt san a Texas said sat urday they Are examining a variety of big ticket items to raise the Money and he even left open the possibility that the senators May eventually be forced to admit that their tax rates must be in creased. Rep. Charles Range d-n.y., noted the Senate cannot possibly accomplish what they want to do without raising the  the House and Senate Bills would cur Tail tax Breaks in return for lower , the More Radical Senate Mea sure would establish Only two individual tax brackets of is percent and 27 per cent along with a 33 percent top corporate rate. The House Bill would create a four bracket individual rate Structure with maximum of 38 percent. The corporate rate would be 36 percent. The top individual rate now is so per cent and the corporate rate is 46 percent going into the saturday session the lawmakers also had reviewed a list of 23 major items they need to resolve to Settle on a Basic Structure for a Bill. The list included tax treatment of individual retirement accounts capital gains and charitable deductions by non itemizes. Uplifting experience App Tom Rodeo Clown Tom Macafee ukes Ahard hit from a Bull lifting him off the ground top us upending him it the National High school Rodeo finals in rapid City . Although raised Macafee was Able to continue in the Competition. Contestants came bom33 states and Canada. For s Grandfather headed company that imported opium Magazine says new York up president Franklin Delano Roosevelt s Grandfather once branded As an old Bucca Neer headed a trading company in China in the mid 1800s that was the biggest . Dealer in opium a mag Azine reports. American heritage Magazine said in an article on the opium Trade in the Ori ent in the 19th Century that Warren Del Ano ii the father of Sara Delano Roose velt s Mother was chairman of the shipping firm of Russell & co. In can ton China from 1839 to 1843. The opium Trade in Canton by 1830 was said to be the most valuable Trade in any single commodity anywhere on Earth the Magazine said. Russell & company. Was the big Gest . Dealer in opium and the third largest firm in the Indian opium Trade British or american the Magazine said. Delano in his correspondence likened dealing in opium to the shipping and handling of liquor. American heritage quoted from a Tel Ler he wrote from Canton i do not pre tend to justify the prosecution of the opium Trade in a moral and philanthropic Point of View but As a merchant insist that it has been a fair honorable and legitimate Trade and to say the worst of it liable to no further or weigh tier objections than is the importation of wines brandies & spirits into the u. States England  the Magazine said Delano was a millionaire by the age of 48, but he lost most of his Money in the financial panic of1857. In i860 he was forced to go Back to China to Hong Kong this time where he spent five More years recouping his losses in the two trades that had initially made him so Rich so rapidly Tea and opium the Magazine said. The Magazine said it was not know whether America s Only four term presi Dent knew of his Grandfather s involve ment in the drug Trade. But when the columnist Westbrook Pogler accused the president of living off the Fortune left by an old Buccaneer who had wrested it from a slave traffic As horrible and degrading As prostitution " the White House maintained a discreet silence the Magazine said. But Eleanor Roosevelt had been stung by Pegler s charge and when she visited Hong Kong in i9s3. She made Point of asking a Veteran British Mer chant about the opium Era the mag Azine said. After talking with him she reluctantly concluded t supposed it is True that the Delano. Like everybody else had to include a limited amount of opium m their cargoes to do any trading at All the article said. Goldwater released from Hospital Washington a sen. Barry Goldwater left Walter Reed army medi Cal Center saturday morning after receiving treatment for abdominal pain for the previous three Days according to a Hospital spokesman. The Arizona Republican who is 77 years old was admitted to Walter Reed wednesday morning after complaining of indigestion. His office quoted doctors As saying the discomfort May have stemmed from a late night dinner the previous evening. Jim Ferguson the senator s press Secretary said Friday that Goldwater was free to leave but decided to remain Over night in the event further testing was needed. Since he was there they decided to give him a physical and ordered the other tests but he s Fine and Busy work ing Ferguson said. Goldwater represented Arizona in the Senate in 1952-1964, left when he ran for president on the Republican ticket in 1964, and was elected again in 1968. He plans to retire at the end of ibis year  
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