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Show SuncU Business News I I THK HKKALD .salmi- - r- - livw, I !.,! ; Pdk'e '..iii Sentiment Snowballing Throughout U.S. Anti-Inflati- on By LeROY POPE L'PI Business Writer within the next two fiscal years. -- That the federal government should continue its present practice of deficit financing. Mound is convinced the public would vote overwhelmingly for the first proposition and that this snowballing pressure would effectively put the brakes on government spending and curb inflation. - NEW YORK (UPIl Committees to fight inflation and individual inflation fighters are springing up around the courtry much as proponents of Proposition 13 style measures. The leaders of these efforts so far are mainly economists or businessmen, but they are trying to create a groundswell of popular revolt against inflation resembling the taxpayer revolts that enacted Proposition 13 in California and toppled Gov. Michael Dukakis of Massachusetts in the primary election. The most ambitious of these movements is that of the National Referendum Association, formed by New York mutual fund manager Milton Mound. Mound's movement has won the endorsement of the d American Conservative Union based in Washington. Mound's group has persuaded Sen. Carl Curtis, to introduce , and Rpp John Ashhronk, in Congress a bill urging every state to put on the ballot the following alternative proposals as an advisory Another movement is the National Committee to Stop Inflation launched by Arthur Milton, New York insurance broker and author of a book, "Will Inflation Destroy America?" Milton wants to stir up a nationwide boycott or buyers strike. He wants people to do without goods and services that they regard as overpriced until the resulting sales drops really start hurting and force business, labor and government to cooperate to end inflation well-heele- In support of his referendum idea, Mound, mutual fund man, quotes Thomas Jeffeison. "When the people are well informed, they can be trusted with their own government, whenever things get so far wrong as to attract their notice they may be relied on to set them to rights ... Every government degenerates when trusted to the rulers alone. referendum: That a start be made at once to reduce federal spending and that a balanced budget be reached """"" t" ' ': vwW- 1. AMERICAN MOTORS CORPORATION is offering its 1979 lineup, featuring this all new sporty subcompact, the AMC - , . I,,, ... in,,, r r A Spirit. Company President Gerald C. Meyers looks into the new '79 Spirit which the firm hopes will help re establish AMC to the prominent position it once held in the small car field. (L'PI Telephoto) Realtors Hit Proposition 13 Proposals CHICAGO -"- Property tax limits based on Proposition 13 model laws have all the legal tenacity of soft yogurt." They are "legal creampuffs in the hands of clever lawyers." . That is the contention of Donald G. Hagm'an. writing in the Winter 1978 edition of "Real Estate Issues," the professional journal of the American Society of Real Estate Counselors (ASREC). In an article titled "How to Comply with Property Tax Limitations and Raise Taxes on Property at the Same Time," Hagman, a professor of law at the University of Southern outlines California, several ways such limitations can be skirted legally. One way, he points out, would be to expand the property tax base. By adopting a save 20 30 & Holiday Home Entertaining Sale of The magnificent obsession with making the iuiiuu j uj jivi iiiiu gnu 11 iui avtz sibie is the essence of this oDDortunitv in our Cilwer Dftrtpw Vfilrf wii I'll fknl nr 11 7 Pen 1flncor;lnnfrau1Bv?n C. Reg. $40 ice bucket D. Reg. 59.95 round tray I6V2" diameter E. Reg. $145 chafing dish F. Reg. $25 open casserole Not chnurv rea U 75 nnpn raccprnlp unrrnur l: CtnnijHw. Dan V iww w.ai HI. ixvg. ii j covered casserole H.Reg. 57.50 t. - t. f . " 24.95 h. Keg. 37.75 beverage pitcher B :Jt.t"'"-:1 QQ I 1 29.95 39.95 99.95 1 7.95 1Q QC 7Q .w m. "''if w a mm fa if sa.aa V, hi it m r, wmmmmt' .S'-- xlfep "general property tax system," one formerly used in California, all property, not just real estate, would be subject to taxation. If all property in California were taxed at the maximum rate allowed under Proposition 13, Hagman estimates that about $14 billion in revenue would have been generated this year. That figure would have exceeded by nearly $3 billion estimates of what 1977-7- 8 revenues would have been in California if the tax law had not been changed. A move to such a system would have a number of advantages, Hagman says. Such a tax would be neutral. People would not invest in particular kinds of property for tax purposes. Also, because there would be loopholes, such a system would be less no costly to administer. One notable problem, Hagman points out, is that such a tax system would "shift taxes and wealth dramatically." Holders of property not currently taxed would enjoy less wealth; owners of real property would enjoy more wealth. Proposition 13-ty- could be side- limitations stepped in another way: State income and sales tax laws could be amended to provide for a local tax, which would have the same effect as a property tax without being ad valorem (based on the value of property) tax on real property. Hagman notes that a number of special districts in the United States levy special assessments. state-collect- These look like ad valorem property taxes, but have not been held to ad valorem property taxes. Hagman the expenditures, 13 model is a Proposition r- 1 Barton Sterling Sale Reed & off place spoons, cream soups, salad forks; 40 off all other 50 50 flatware in all active patterns The possibilities are awesome. You could Towle Sterling start from scratch and assemble your own service at 50 savings on perhaps the most-usepieces and almost that on everyelse place and serving choices. 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