The Key West Citizen Newspaper, May 13, 1953, Page 2

[Increase In Corporation Taxes Is Considered |By Treasury To Replace Excess Profits Tax By JACK BELL | Humphrey seemed to have done; ment of Monday the budget might WASHINGTON 1 — A six-point | quick about-face from his as- | not be balanced :n the year be- ‘Moving Days for OUR USED CARS ed TRUCKS 1950 FORD Pick Up _. $495 194 CHEVROLET Pick Up $495 And It’s YOUR Mowe for Real Bargains ‘You'll save plenty by buying wed car or truck during this big male, Room must be made for the many trade-ins we're getting. We've move our used vehicles fast. . Bo we've marked every price down. We've carefully reconditioned every car and tfuck. Every one is ready to give you thousands of miles CoS CAR SPECIALS ssi: 1946 PLYMOUTH 4Dr.____._- $ 445 ‘1950 PLYMOUTH increase in norma! corporation taxes was reported under consid- eration by the Treasury today as a possible alternative to the expir- ing excess profits tax. Secretary of the treasury Hum- phrey arranged to talk with Chair- man Millikin (R-Colo) of the Sen- | ate’s tax-handling finance commit- tee for what may be a preview of the administration’s new tax Pro: gram. Humphrey has said he will liay it before Congress next Tues- day. In advance of this meeting, an- ! other influential senator who asked “Bi not to be quoted by name said | Treasury studies have indicated it would be necessary to raise the limit on regular corporation levies | from the present 52 per cent to 58 | per cent to equal the revenue from | the excess profits tax. The latter tax will expire July 1 unless Congress acts before that time to prolong it. Its expiration and a 10 per cent réduction in individual income taxes scheduled for Jan. 1 would make it more dificult for the Eisenhower administration to bal- ance the budget, a goal it now ap- sertion last week that it would be/ ginning July 1, 1954, was mis- risky, from the standpoint of na-j interpreted, a point that Taft also tional security, to attempt to bal-} made. Taft said what Eappens will ance the budget in the coming fis- | be determined largely by tax cal year. yields. Instead, he told newsmen yester- | day that while the administration Fece? ne erro Your Grocer SELLS That Good} |MODERN CLEANERS STAR * ee tiny Shen fling and CUBAN * HOUR SERVICE _ ——TRY A POUND TODAY— Blanche Jones, Prop. RUGS CLEANED = COFFEE STRONG ARM BRAND All Formal Garments chemically All werk guaranteed Triumph Coffee ‘5 Mill can’t balance spending and income now, he hopes it can be done dur- ing the next fiscal year. He prom- ised that efforts would be made every month to cut expenses. Humphrey said Wilson’s state- iene encieneeemnmese Bill’s Licensed PAWN SHOP 716 DUVAL ST. Duplication of Lenses and Frames THE KEY WEST CITIZEN Wednesday, May 13, 1953 ALL GROcKAS ee ——— DR. J. A. VALDES ° PTOMETRIST Mat. 2.8 4:06 Night 6:12 & 8:18 AIR CONDITIONED Sun. - Mon. - Tues. STRAND WED., THURS., FRI., SAT, OFFICE HOURS 9.12 — 619 DUVAL STREET. (Upstairs) TELEPHONE 2.7821 ATTENTION PLEASE! Keep Our City Clean Kaise 12 MONTHS 18 MONTHS 3 YEAR’ LOU SMITH, 1116 White BY CALLING Key West Junk Dealers CHARLES (OBURN of safe, economical transportation. To get the pick of the lot... eome » fin today! : 1949 PONTIAC, 4 Dr. 1951 PLYMOUTH, mevedere 951 CHRYSLER. 4Dr. $46 CHRYSLER, 4 Dr. pickin 1947 CHRYSLER; 2 Dr. 1946 BUICK, = Dr. 1950 FORD, 2 1949 PLYMOUTIL 4Dr. 1951 DODGE,2Dr... = = = 1949 PLYMOUTH. a SR 1949 PLYMOUTH, 1951 STUDEBAKER, rf Dr. 1951 PLYMOUTH, 4 Dr. 1950 PLYMOUTH. Sub. 1951 NASH, Rambler 1951 PLYMOUTH, Coupe cn PLYMOUTH, Cl. Cou a clans MINOR, Conv, Coupe ______ 1898 PLYMOUTH. 4Dr..0 ER 1949 CHRYSLER, 4 Dr. rer PLYMOUTH, Sub. : a Conv. Coupe — 1941 DODGE. 1881 DODGE, & Coupe 1946 PONTIAC, 4 Dr. 1951 DODGE, 4 Dr. 1980 CHEVROLET, 4 Dr. 1948 WILLYS Station Wagon 1950 CHEVROLET, 4 Dr. Navarro, Inc. 424 SOUTHARD ST. 1195 745 1195 USED CAR LOT DIAL 2.2242 ——— ——— parently has put off. PT | However, any Treasury proposal ————— |CIFELLI'S Ue beg to jack up regular corporation iV. Service | taxes to make up for the revenue | POOR OLD CRAIG OLD CRAIG Factory Methods Used — | loss is certain to encounter a storm SERVICE | of competion in halts. All Work Guaranteed ie excess profits levy reaches Marine Radios & Asst. j about 30 per cent of business STATION sg < Eewpsent ‘firms, with a maximum levy | against them of 68 per cent. Other Francis at Truman | FOR PROMPT AND REL!ABLE DIAL 2.9193 SERVICE — SEE... ‘firms not now touched by the ex- ‘cess profits tax would be certain YOUR PURE OIL DEALER DAVID CIFELLI jt protest taking ovez additional | Tires .. Tubes .. Batteries $20 Truman Ave. (Rear) ees «» Accessories Dial 2.7637 | Humphrey apparently has kept ‘his tax plans well hidden. Sen. ; Taft of Ohio, the Republican lead- er, said he hasn’t had “even NO MINORS dark. Out of confusing budget state- ments recently by Humphrey and by Secretary of Defense Wilson has come something of a general in position to start operating the government on a pay-as-you-go asis. Millikin said that budget balanc- ing in the coming fiscal year, which begins July 1, “hasn't been, | ruled out,” but few other Republi- can leaders thought it could be acéomplished, MRS. EISENHOWER CROWNS PA. QUEEN aSTATE COLLEGE, ident <4 a— a! owe tivities ities at Spring ee! vities a lege here gf after recei\ a a | crown from Mrs, Dwight D. Ei senhower, Lovely Madeleine tne Shoes ot Hern. Hers ff don, Va. was at the opening of the Fe todos We S gram. She also received a | and a kiss from Mrs. Eisenhower The 21-year-old queen ‘a grad. ro ig senior majo) in speech an radio. ‘The first lady and her mother, Mrs. John S. Doud, planned to leave Tuesday by automobile for Washington. Oil of cloves was widely used in the ancient world. Children’s TOYS TROPICAL TRADER 718 Duval St. Dial 2-6262 © THE MOST DANGEROUS THING A MAN ~ AND WOMAN EVER DID TOGETHER! “EL REBOZO DE SOLEDAD" Fox News Bex Office Opens 1:45 P.M. CONTINUOUS Phene 2-419 Fer Time Schedule San Carlos Theatre Repay in easy monthly payments || @Reasonable interest rates lnvestigate This Low Cost Way Te Serrew Mensy Mat. 3:30 Night 6:28 & 6:38 AIR COOLED | TEGAN QUEEN = Paula, SY Mea} Tuesday and Wednesday Loon our... a oe Oe ee In rouse, Toe Tesnman RS Children Under 12 Admitted Free