OCR Text |
Show i monday. may 8, 1978 Pants, jackets, skirts, and tops pykettes put-togethe- rs Chuck Aker low Pykettes salutes warm, sunny days with red, white and blue. The in red, white, and blue trim navy blue belted jacket has white cord detail and top stitching. Its teamed with comfortable white pull-o- n pants with button tab front. Pykettes. It means versatility. Pants to go with shirts to go with jackets to go with skirts. All at a moderate price. Only in California? The Jarvis initiative If Howard Jarvis lived in Utah he would probably subscribe to this paper and own a business situated on Main Street. After watching him debate in Los Angeles, I concluded he appears to have the concerns and the vision of the typical American businessman. Typical in some respects, but in others Howard Jarvis appears to be more courageous. For it is he the Jarvis Initiative, known as who Proposition 13, which will be voted on this June in California. Proposition 13 provides that all property taxes in California be immediately cut by 57 percent. That is a staggering figure when one contemplates the growth of local government and school districts and the dependency those districts and municipalities have on property taxes. And yet, a poll I saw in California indicated that if the election were held that day the Jarvis Initiative would pass by a 6 percent margin. Are the taxpayers in revolt? Indeed, they are, not only in California, but across the country, as well. Howard Jarvis main argument is that the property tax was instituted to support property-relate- d services, such as police and fire protection, r, sewer and water, storm drains, streets, street lighting, maintenance of parks and other services. Over the physical type property-relate- d years the tax has come to pay for welfare and school programs which sometimes seem rather obtuse. Jarvis points to the fact that the California constitution requires the state legislature to support the public school system. While it has never supported the public school system with any major direct appropriation, Jarvis contends if the property tax were reduced, the legislature would have the responsibility of picking up the slack. The Jarvis frustration with the property tax is shared by most people nationally. There are many examples presently of computerized property taxes which automatically increase the evaluation on each piece of property annually. It is no secret that the market value of homes stays greatly ahead of the assessed evaluation, even though that evaluation is theoretically based upon the market value. If all Utahns were to pay property taxes on the actual value of their residences or commercial properties, the economy would crack under the strain of that burden. While I dont think the Utah tax program has reached the proportions one finds in California, we are clearly moving in that direction and it is time to evaluate the usefulness of the property tax and what its revenues ought to be earmarked for. An interesting article in. the current issue of TIME magazine describes the growth of taxes across the country since 1967. In every case, the tax burden has grown more than 100 percent in ten years, which really means the tax growth has outpaced the inflation rate. one of the nations The chairman of largest banks, Walter Wriston, recently observed in a speech that when taxes go up, economic activity goes down. He noted that empires from Rome to Britain reached their fullest flower before the rise of taxes and began their precipitous decline as the tax burden reached its greatest intensity. Wriston said Americans feel uneasy about their economy partly because federal, state and local governments tax away 29 percent of the gross national product. He feels we have reached the point where high taxes will cause the economy to deteriorate. Financing the growth of government and providing services have always been difficult problems. It is to be hoped that local governments will seize the initiative to their own budgets and set voluntary limits on budget increases annually before the taxpayers are forced to take a position like the one enunciated in the Jarvis Initiative which could have a long-ru- n detrimental impact upon the community. Voluntary limits set by government on increased annual spending would go a long way toward insuring public confidence in its elected officials as well as its school districts. And it would no doubt decrease the probability that some day Utah will face a Jarvis Initiative. co-autho- red mem. 'n Look for the familiar Pykettes label in your local department store or specialty shop. curb-gutte- 0 WHO WE ARE Listed on the American Stock Exchange with assets totaling over $100 million, Union Investment Company has been serving the business community of the Southwest for over 20 years with a full range of financial programs. And now there is a convenient Union Investment Company office in Utah. WHAT WE DO We loan money to companies who are strapped by cash flow problems usually growth related. We provide operating funds so necessary expansion can take place. We provide money for equipment and machinery. Providing financing is why we are in business. So if you are looking for a commercial loan, you can be sure you'll have our undivided attention. ACCOUNTS RECEIVABLE AND INVENTORY FINANCING Wnflii trucks Use flues amidl males Ike out Citi-Cor- p, io wonder our competition hates us. Whatever size load you have we have a dependable Budget truck to handle the job. With the latest equipment. Budget can help you through your peak hauling season or whenever you have special truck needs. Budget honors most major credit cards. And with low rates by the no wonder our competition hates us. day. week and month ... 750 South Main 322-558- SLC Airport 363-150- 1 0 3 3 rent a truck A Hudgtfi System l.k;enee. re-evalu- ate |