The Alto Herald (Alto, Tex.), No. 5, Ed. 1 Thursday, July 11, 1957 Page: 7 of 8
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THE ALTO HERALD, ALTO, TEXAS. JULY 11, 1957
Top Tax Rate:
91 Per Cent
H?
Hi
AH
HM leaders in Washington
Kp]it on thf question before two
subcommittees on the mat-
\,f taking regulation of the
[tacking industry away from
Jji ; ii tment of Agrictdture and
Kc;m: it in the hands of the Fed-
Trade Commission.
il i.wxh to the question of the
!t i ackers is made from two
g, <]) that the Packers,
})UJ)t the operation of "private"
Miv.uds. and direct over-the-
purchaso front producers,
yu down the pric< s to the live
ck producers, and <2) because
Parkers and Stockyards Act
t9L'i which gives jurisdiction to
Department of Agriculture,
not covet- the big chain gro-
, of which today own their
meat packing departments,
are not subject to any anti-
itt regulation by the FTC, since
cutne under jurisdiction of
Department of Agriculture,
the Department of Agricul-
takes no action whatever on
tgM-tru.st regulation.
1 ^cr ti ding to witness before the
^ Ctnittee, the practice of op-
"private" stock yards
tre there is no open competi-
buying, as opposed to the
^lic government regulated
^ ids where livestock is purchased
an open bid basis is one of the
[s whicl) tends to drive down
price of livestock to the pro-
:ers, since there is no regula-
whatever of these private
^Bds. They are used by so-
H led "professional" shippers who
given the right by the pack-
to exclusive purchase in a
^tn territory and who ship to
private yards in car-load lots
at favored prices.
iank K. Woolley, Legislative
Counsel fnr the American Firm
Huteau Federation, told the
Anti-Trust subcommittee that
neither the Department of Agri-
culture nor the parkas
blame for problems facing live-
stock producers, that the Farm
Bureau opposed enactment of the
legislation to transfer jurisdietioti
over meat packer trade practices
from the Department to tlie Fed-
cral Trade Commission.
Woolley said that prices on beef
catttei);)l))eendt'ivenfromS2M7f)
it' 1!)3! to about 3)5.00 in 1930. and
hogs roughly from $20 in 193] to
about $14 4o in 1936 because of an
excess supply of meat animais
duectiy attributable "to compcti*
tion created as a result of the fed-
eral farm program,." He Mamed
this price drop on acreage con-
trol programs which have forced
farmers to shift from basic crops
to feed grains and hay.
There is only one place for such
increased feed supplies to go and
that is into livestock and products
closely competitive with live-
stock products, such as poultry.
Livestock production Is at an all
time high and livestock product
prices have been depressed as a
result of the high volume of pro-
duction." Woolley said. And yet
in Washington supermarkets only
a short time ago the only meat
at retail undet $1 per pound was
hamburger, stew meat and frank-
furters.
Angus McDonald, assistant leg-
islative secretary of the National
Farmers Union, said his organi-
zation supported the measure
which would remove administra-
tion of the Packers and Livestock
Act of 1921 from the Department
of Agriculture and place it in the
Federal Trade Commission.
FOR SALE
One Frigidaire Refrigerator
One Apartment Size Range
0. B. Body Shop
Mione 91
Alto, Texas
UStD
@RR
We always have a good selection of used
] ars and trucks.Many makes to select from
See Us Before You Buy. Easy Terms.
LOOK THESE OVER:
M50OLDSMOBM. MOTOR RE-
CONDITIONED,
955 FORD CUSTOM. 4-D00R.
!942 FORD 2-D00R.
WONTIAC
Il952 STUDEBAKER. CHEAP
IBRNE
From Your Ford Dealer
COPELAND MOTOR CO.
I Phone 87 Alto. T.xa<
I he extremes to which taxes
can go in paralyzing incentives
are illustrated by the individuals
tn the highest tax bracket—91 per
At this tax rate, the federal
{novornment teaves the individual
i nine eents out of oach addi-
tional dollar ho receives. This rate
is reached at incomes above $200.-
000. the exact level varying with
family status and other circum-
stances.
!'he impact of th)*t;)x upon the
living standards of the rich is not
a point ol' debate here. The home
of a lamily with such an income
may not he as palatial as it might
have been in the days before in-
come taxation, but it certainly can
be luxurious; and, after taxes,
such incomes will sustain a wide
number of comforts and conven-
iences. One might well debate the
equities of a tax c'jpriving the
owner of more than nine-tenths
of the result of his .tabor, &Dd the
reaction of the individuals subject
tn such attrition is sometimes ex-
pressed in painful terms. B:.L the
!)1 per cent tax, and other rates
which approach it tn scale, have
a negative effect on the overall
nation that is of far greater con-
sequence than their impact upon
the individuals directly involved.
First, such taxes stand as a
penalty on progress. Investors
who might otherwise be willing
and able to put substantial funds
into new ventures, or to spur the
growth of small firms, are driven
away by the limits of their fi-
nances and the dictates of com-
mon sense. They have, after taxes,
a far smaller margin for invest-
ment than might be supposed. A
new or swift-growing enterprise
might appeal to them by showing
promise of a high rate of return.
But its attraction in this respect
is minimized, and often entirely
eliminated, by the arithmetic of
taxes.—Selected.
LAFF OF THE WEEK
"Just tike yon. Rodney—big And far from perfect."
JVO PA ACE ro RES7
Indianapolis, Ind. — Returning
home after spending 48 days in
jail. Manuel Bond had visions of
the restful hours he would spend
in his favorite easy chair
Imagine his surprise, when he
reached home, to find there was
no home, and consequently, no
easy chair. Unable to locate
Bond, it seems the Indianapolis
Redevelopment Commission had
to go ahead and tear his house
down for a slum clearance pro-
ject.
Maurice Bourges-Maunoury has
been designated Premier of
France.
patterns
Dr... Pot'"" No. HM-fOUO
cnp.<"'o" during "" -n"" **"""1
foWd .undr..' h°" '"PP"* *'"*
)55<4 ""'h *'*"
inch, bottfo, t '/t )""d'
find tM ton!? tloth o"'y
Let (. troth.' No. 303 N ho.
(of mo<o"9 b"dg<"<n '<" '*"9"' , ,
KwMU. D.p< NWNS.' 347 W..t Adorn.
itrnf, Chitogo 4, ««no(<.
MrDt/srRr SPEAfD/AfG
Industry spending for factories,
office buildings, equipment and
other production facilities is ex-
pected to be 9 per cent higher in
the first nine months of this year
than in the same period of 1956.
Government estimates indicate
that industry is spending at the
rate of $37,330,000, a year in the
second quarter and will spend at
the rate of $37,890,000 in the third
quarter.
Baseball's immortal Ty Cobb
says the art of stealing bases is
coming back into its own in the
major leagues and credits the New
York Giants' Willie Mays with
showing the way.
MORE MEN GET
DEFERRED
CLASSIFICATION
Austin.—Colonel Morris S. Sch-
wartz. state Selective Service di-
rector. Tuesday announced receipt
of draft regulations which will
defer additional thousands of
Armed Forces reservists.
Previously, thousands of mem-
bers of units of the Ready Reserve
of the reserve components of the
Armed Forces were not eligible
for draft deferment despite their
reserve activity.
Authority received by the state
director of Selective Service is
copy of an executive order signed
by the President. This authority
already has been passed on to the
local boards, Colonel Schwartz
said.
The state draft director warned
draft registrants that It is their
individual responsibility to see
that their local boards are advised
when they are members of units
of the Ready Reserve of a reserve
component.
Reporting such membership in
a unit is also the responsibility of
the commanding officers of the
units in the case of draft regis-
trants. The report is made on a
special Department of Defense
form, No. 44.
The individual reservists, if
liable under the draft law, will
receive an order to report for in-
duction if his membership in the
reserve unit is not reported.
"As far as the draft board is
concerned," Colonel Schwartz
said, "a man is not a member of a
Ready Reserve unit if he or his
commanding officer don't notify
the board in the officially pre-
scribed way. The board cannot
deier without information.
Minor changes in regulations
involving aliens, dependency, ap-
peals, examination and induction
procedures, and critical skills
program were also received.
The man, or woman, who
learns to laugh, at himself or
herself, even privately, is mak-
ing some progress.
MARSHALL BYNUM
ELECTRICAL CONTRACTOR
REA Commercial & Residential Lighting
Complete Stock Of
LtGHT FtXTURES, ELECTRtC MOTORS, WtRtNO DEVtCM
") Oon't Oo AH Of The tteetrtee) Work.
t Oo Only The Beet"
PHONE 184 ALTO, TKXAS
i[t)=m=iii=in=iii=H!=in=]n=!it=in=n!=!n=inE)ti=m=!n=mEin=in=m=ni=m=m=m=
HPMMM
/or
That's the word Texans use
to describe Humble service.
You can on it that your neighbor in
a Humbie uniform knows his business.
You can on him to give your car the care
it needs to keep it running right and
looking good. You can on him to keep
his rest rooms clean and sanitary. You can
4^/7^7^ on Ending his salesmen prompt,
well trained and courteous.
Stop for service under your
neighbor's Humble sign.
HUMBLE OHL * HEFtNtNG COM^AMV
ere 6v;r<t
TEXAS 57
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Frank L. Weimar and Son. The Alto Herald (Alto, Tex.), No. 5, Ed. 1 Thursday, July 11, 1957, newspaper, July 11, 1957; (https://texashistory.unt.edu/ark:/67531/metapth215478/m1/7/?rotate=270: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Stella Hill Memorial Library.