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Publication: European Stars and Stripes Friday, February 2, 1990

You are currently viewing page 4 of: European Stars and Stripes Friday, February 2, 1990

   European Stars and Stripes (Newspaper) - February 02, 1990, Darmstadt, Hesse                                Page 4 the stars and stripes Friday. February 2,1990 Sununu rebukes party of taxes says demos should have applauded no hike vow Washington a while House chief of staff John Sununu rebuked democrats thursday for failing to give president Bush a standing ovation when he declared in his state of the Union thai he would not support a tax increase. Sununu said their refusal to join re publicans in standing to applaud Bush s words might be seen As a party statement that democrats still want to be seen As the party of  the White House official made his comments As the administration launched a new drive for a Cul in the capital gains tax by linking it with to politically appealing tax Breaks for mid dle income americans. Bush asserted Kis package would offer economic bpm. To All  Sununu. Commenting on Bush s state of the Union address the night before told reporters at a White House briefing what 1 was surprised at last night was How Stark the definition Between the two parties was in terms of the  although Bush was applauded Many times by All. There was one notably parti san ovation on wednesday night As he addressed a joint House Senate session of Congress. When he promised to bal Ance the budget with no new  republicans Rose in Masse to applaud him. Democrats remained seated. The democrats by refusing to stand up when the president suggested that you did t need new taxes was making a party  Sununu said. That ought to make the american Public ask whether or not they might be trying to Tell them that they really still want to be seen As the party of  he added. Sununu also predicted that the proposal for a lower capital gains lax. Which passed the House last year but died in the Senate would pick up a dozen or so More votes this year in the Senate. He also predicted democratic criticism of the president s new $1.2 trillion by decl will diminish in the coming months. The More they look at it the More they la like it Sununu said. He briefed reporters after Bush sent to Congress a letter trumpeting his new proposals on capital gains family savings accounts and a change in rules on individual retirement accounts to encourage More first time Home buying. The White House official concede that an attempt to win votes by coupling the capital gains tax proposal with the two other potentially More popular proposals was certainly part of the administration s legislative strategy. Still Sununu said the understanding of the problems associated with savings the costs of capital is truly understood on a bipartisan  in his letter to Congress the president highlighted the new package of measures designed to make his Battle for a reduced capital gains tax More politically Palata ble. All three measures were included in Bush s budget for fiscal 1991, unveiled earlier this week. Administration officials said the proposed legislation would be introduced by Republican leaders in Congress thursday. Bush also staged a ceremony at the White House to announce he was for Mally launching his new Campaign for the tax changes. This package will help millions of  Bush said surrounded by top economic aides who showed up to watch him sign the letter to Congress. In addition to again seeking a lower tax on capital gains the profits from the Sale of stocks real estate and other assets Bush this year is sweetening the proposal with two other measures de signed to Appeal to Middle income families a new family savings account that would allow couples to save up to $5.000 a year and individuals up to $2.500 and not pay income tax on the interest if the deposits arc held for at least seven years. A proposal to permit up to $10.000 to be withdrawn prematurely from an individual retirement account without penalty to help finance first time Home purchases. The package. Bush told Congress would encourage savings investment and economic efficiency thereby Cre Atin jobs and providing other economic benefits to All  Bush failed to win congressional approval last year for his proposal to re Duce the capital gains tax even though a version was approved by the House and had picked up majority support in the Senate when Congress recessed for its Winter break. Although Bush initially proposed reducing the capital gains tax to is per cent his new proposal would exclude from taxation up to 30 percent of the capital gain from the Sale of an asset held three years or longer. That works out to an effective lax rate of 19.6 percent for taxpayers in the 28 percent bracket. The lax on capital gains is now the same As the tax on other income 15 percent. 28 percent or 33 percent de pending on income. The administration combined the family savings and Ira Home buying plans with the capital gains tax in an Effort to mute criticism by Democrat that the capital gains tax reduction was a break for Rich people. But Bush said thursday reducing the capital gains rate for Long term capital gains will lower the Cost of capital and provide an incentive for Long term in  and this will create jobs and make american business More competitive in the International Arena he said. The Greensboro four from left Joseph Mcneil Jibreel Kha in Franklin Mccain and David Richmond re enact their sit in at the Greensboro. ., tool Orth s that kicked off the civil rights movement 30 years a of. Greensboro four get their meal Greensboro.  Up1 four Black men who sparked the . Civil rights movement in i960 by demanding service at a Woolworth s lunch counter finally got their meal thursday a breakfast of Bacon eggs grits Toast and Coffee on the 30th anniversary of the sit in. The Greensboro four Jibreel Khazan Joseph Mcneil. Franklin Mccain and David Richmond were invited to Dine at Woolworth s on the anniversary of the protest that broke the Back of Southern segregation. They were greeted at the door by Wool Worth s vice president Aubrey Lewis who is Black. I want to thank you for what you did 30 years  Lewis told the four men. You had the courage to open the door or an entire movement. Thirty years ago. You could not be served Here. I could not be served  Lewis said. But because of what you did. Now stand Here As vice president of Woolworth  three of the men ordered Coffee and a fourth asked for water and a banana. But Woolworth s would have none of that and out came an elaborate spread of Bacon scrambled eggs grits and Toast in contrast to the treatment 30 years ago when they ordered a meal and got a cold shoulder instead. I remember it said Geneva Tisdale. A Black who was working at the lunch counter s steam table when the demonstration occurred. Was scared stiff be cause i did t know what was going to  Tisdale and Ima Edwards who also worked at the lunch counter were on hand to help serve breakfast to the four men whose action sparked restaurant sit ins across the South and ultimately ended the policy of Whites Only eating places. We were determined to turn America  said Khazan now 48. It was a War that was going on. We were non violent warriors in a War. We were Strug gling to be  Iran Contra figure gets probation Washington a a Federal judge thurs Day placed Iran Contra figure Albert Hakim on two years probation fined him $5.000 and announced that the businessman has agreed to surrender his claims to millions of dollars taken in the affair. . District court judge Gerhard Gesell said the iranian Burn Hakim had j secured the release of David Jacobsen. A . Hostage held in Leb j anon and is cooperating with Iran Contra prosecutors in a new Crimi-1 Mil investigative matter. Gosell noted that Ja-1 Cobson. The former hos-1 luge had written inc i judge on behalf of Hakim. The judge said f that while others have taken credit for freeing the hostage it was a Hakim Kirn s conduct that actually achieved it. Very substantial funds measured in the Mil Lions of dollars which have been fro in in Swiss Bank accounts have now been released to the United slates by  said Gesell. The judge did t specify the amount of Money involved. At inc request of the Justice Dupar Lenl the Swiss government fro a some $7.8 million held in accounts of the Enterprise inc Maze of offshore companies and Bank accounts Hakim and his Busi Ness partner retired air Force maj. Gen. Richard Accord. Set up to handle Money in the Iran Contra affair. Hakim pleaded guilty nov. 21 to a Misdemeanour charge of helping to supplement Oliver North s salary by arranging to pay for a $13,800 Security system at North s Home. Gesell placed one of Hakim s companies. Pana Manian based Lake resources inc. On probation and ordered that the corporation be dissolved  
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