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Show The Salt Lake Tribune, Saturday, November 4 .A. 29, 1975 Additional N.Y. City Tax Regarded as Only a Drop in the Bucket David Shaffer Associated Press Writer The $200 million ALBANY, N.Y. New York City tax increase imposed this week will put new burdens on city residents and perhaps harm the citys already sagging economy. But ironically, it will make only a small dent In the citys budget deficit. For residents of what is already the highest taxed city in the nation, the tax package imposes stiff increases in personal income taxes. And it will hit New York residents, commuters and visitors when they buy a package of cigarettes, get a haircut, visit a beauty salon or stop by a massage parlor. By ; -- Yet all of these increases, plus boosts taxes on banks and estates, will only yield about $.28 million in the current fiscal year, which will be half over when the bulk of the tax increases in the takes effect Jan. 1. Hide Some Expenses That is only enough to close about 18 percent of the city's admitted deficit for the current fiscal year of $724 million. On top of that admitted deficit, about $800 million in items that would normally be classified as current expenses are hidden in the citys capital budget, for which it may legally borrow'. The city picked up another $42 million this fiscal year through state legislation requiring city employes to contribute to their pensions, and up to $10 million through some debt restructuring which will stretch out its payments for past years of profligate borrowing. The biggest piece of the tax package is a stiff boost in the personal income tax to raise $80 million annually. Rates are increased by an average of about 24 percent, and wealthy individuals now able to escape the income tax through extensive deductions will face a flat minimum rate of 2.5 percent. For a taxpayer with a taxable income of $10,000 after deductions equivalent to the average family of four with a $15,000 income - the annual city income tax jumps from $143 to $184. For a taxable income of $15,000 after deductions, the levy goes from $248 to $321. Shop Saturday 10 a.m. to 7 p.m. Salt Lake & Ogden 10 a.m. to 9 p.m. Fashion Place For a taxable income the of $30,000, rate increases from $673 to $890. May Prompt Flight Some state planners worry that these sharp increases in income taxes may spur the flight of corporate headquarters and other businesses to areas with lower taxes, such as Connecticut and New Jersey. The tax increases could thus add to the long process of economic decline on which most experts blame the citys budget problems. Average New Yorkers will feel the pinch most immediately in a new 4 percent tax on such personal services as barbers, beauty shops, massage parlors, steam baths, weight- - reducing salons and the like. A $1 haircut will cost another 16 cents; a $30 spree at a beauty parlor will cost $1.20 in tax. The shops themselves will be affected to by the need for more paperwork collect the tax and pay it to the city. The basic tax on cigarettes will increase from four cents to eight cents a pack. More tax increases are likely for other residents of the state as efforts to close the states own budget deficit are almost certain to result in other boosts. warm pajamas great gift savings Top name pajamas styled for comfort, wear and easy care. Knit ski pajamas and tailored styles with tong or short sleeves, flannel, cotton and blends. Wide selection of patterns and colors, meiriftoirii 4-- 7, reg. 0. 7.00-9.0- 0 13 off Boys Shop Salt Lake City and Fashion Place Mall Xvs RK-9- , 0 CT-6- 65 Gifts of Pleasure RK-9- cube shaped clock radio for big 0 24-ho- ur M anti-rolli- 35.95 portable radio speakers. F.E.I. circuitry PR 60 AM-F- -- 3'2-i- FM, big on M A-- C n. wj8!g CT 665 Mini cassette recorder only 4" wide, 6" high, 2 deep. Features include tape counter, auto stop, built-i- n condenser, mike mechanism. AC adapter and earphone. Black and silver. alarm round sound. With pre-ssystem, wake to music. Illuminated clock radio. White and AM-Fet - , 99.95 operation. Black. AC-D- C ng 34.95 Cheery Savings Send Christmas cheer and save. Youll find the message you want to express in a variety of novelty, traditional and religious cards. Each box contains 20 to 25 cards. HD-50- Match-up- name quality and easy care too. sleeves polos paired with corduroy pants. Polyestercotton blend in blue or burgundy, sizes Stereo Cassette Deck that 0, HF 2500 Deluxe FM stereo-FM-Aprofessional record changer with dust cover. Other features are F.E.T. tuner for greater selectivity, tow harmonic distortion, tuning meter, separate bass and treble controls, loudness control, jacks for optional equipment, two matched speakers and many other quality features, walnut. complements many high fidelity systems. Chromium dioxide bias switch, pause control, automatic stop limiter switch, large illuminated VU meters, all in rich walnut veneer hardwood cabinet. 4-- 7. 4.99 M, 129.95 Sorry, no mail or phone orders. Boys Shop Salt Lake City and Fashion Place Mall ay 249.95 and Stereo Salt Lake City and Fashion Race Mall 1128 TV Santas Surprises Toys Salt Lake City and Fashion Place e Musical Baby Sweet blond doll rocks her own baby. A lullaby plays as her arms move side to side and her eyes open and close. Doll S, baby Mall 1 1 28 9 Rock-a-By- 6W. reg. Little Mall HF-25- 00 HD-50- Top Long reg. 6.50 each additional box 1.00 Stationery Salt Lake City and Fashion Race for Boys s Imprinting first box single line 1.50 0 4 S' 13.9911.99 Dream Pets stuffed animals, bright and lovable stuffers. stocking Elephants, tigers arid more. reg. 1 .49 'S 99c A Flying Angel Daredevil Jumper great stunt cycle and the daredevil rider, Debbie Lawler. Includes turbo tower of power, long ramp and more. Big Name Savings reg. 16.99 10.49 Brushed denim the favorite saddleback version. in All denim blue or light brown, contrasting pockets. Regular and Slim cotton in 2. Waist sizes 25-3- reg. 10.00 7.99 reg. 12.00 9.99 0. The popular safari pant neatly detailed with pockets and top stitching. Brushed cotton denim Waist sizes in blue or brown. reg. 12.50 25-3- 0. Boys shop, Small Set Sewing Machine The real thing for kids. All metal, real foot pedal, extension table. Battery operated,, batteries not included. kids need for fun and excitement. Set includes 59 pieces: 24 pairs of animals, trees, jungle people, a house, scenery and more. All brightly colored, just like the jungle. reg. 8.99 7.59 reg. 5.99 4.89 T stores SHARING Jungle Adventure Set cassette all All MAIL AND PHONE ORDERS FILLED, beyond our delivery area deck, radio, recorder, stereo send freight collect. Dial 328-1 CHRISTMAS TRADITIONS add 65c for pants, pajamas, 40c for box 188 Salt Lake City, Ogden, 825-160- 7 of 374-278- 0 cards, add estimated postage for toysf Provo, Zenith 737 in outlying deliver areas. V. 1 1 28 9.99 |