| OCR Text |
Show The Salt J.ake Tribunt, Sunday 'lav M, OPEN TODAY, SUNDAY, NOON TO 6 Taxes May Actually Rise In 87 If Reform Passes Paul Magnunyrn Knight Kidder Newspapers SHINGTON Many taxpayers luutiting on quick relief from the effort now under way in Congress may receive a rude shock next vear if the measure passes in its current form tax-refor- nder both the Senate and House versions of legislation, the taxes of many people will go up. not down, during the first year that the overhauled tax code is in effect The chief reason is that taxpayers are scheduled to lose many of their deductions at the beginning of the year, but would enjoy the lower rates . for only a beginning in r, QUEEN SIZES Copyright 1 Co Inc 966 Ortho Mdnith Mattress to'Dation and fit piece urtno Pax Ortho ComM Ortho Imperial Ortho Bilbo $278 $418 $518 Solid Wood $128 KING SIZES Ortho Pak Mattress two Inundations and the Ortho Bilbo Ortho Comlort Ortho Imperial $328 $468 $618 n phase-in- . The National Tax Limitation Committee will propose that taxpayers be given a choice of paying taxes under either the present system or a new one, eventually switching everyone over after a few transition years. Of a spokesthe Senates rate phase-in- , man said. It seems unfair. I think they ought to justify it Actually, the reason for the blended rate the first year is simple: the federal government needs the cash Chairman Robert Packwood, promised a 6 2 percent tax cut on average for individuals and called the tax package "a great victory for Americans" as it passed his committee unanimously last; week. But when the 1987 tax returns are sent out, they will not contain the two highly touted 15 percent and 27 percent rates, if the bill passes in its present form and is signed by the presiI dent. Instead, the Internal Revenue Service will produce, a blended rate that averages the jturrent rate structure and the new One, at least for the first year that the new tax code is in effect. j Not until the second year, 1988, would taxpayers be able to take advantage of an entire year of the low flow Basically if we had a rate cut on Jan. 1, it would go into effect immeg diately because it would affect schedules," explains one Senwith-oldin- ate Finance Committee staff member. So there would be an immediate revenue loss, but the revenue pickup from fewer tax deductions doesn't really happen until people file returns and get a lower refund from the government the following year. TWIN SIZES beautitul headboard Mattress, foundation and Ortho Comlort Ortho Imperial Ortho Siesta $148 $238 $298 r i-h- White Factory direct means lower prices. We make what we sell and sell exclusively in our own beautiful showrooms Better selection. Better savings. Better service. However you look at it, Ortho is a better value. ORTHO PAK BRASS plated sheets. 2 pillows featuring KODOfILl polyester tiber 2 pillow cases, a blanket and a bed frame with any king or queen size mattress and foundation purchase any twin or full size mattress and foundation set and receive this elegant brass plated headboard at no extra charge Two Oh and KOOOHu Ustnar vaaemna HEADBOARD PIIOTOFiniSlllllG I I no svw:e 12b 3bmm or color pnnl Our Regular Oisc fitrn (C 4U Coupon must arcompjny oOer Lime' one rolt per coupon Mult pie seK of o''nts are at least . n any jt regular p'O at time Ot process ng Not good w other coupe ng'ic Si Coupon Good Thru 363 0639 484 3993 Mall LC'Ossroadb ' $178 ADJUSTABLE BEDS The on all Ortho sofa wood frames bed that puts you in the perfect position to sleep well and feel great FULL SIZES Mattress, foundation and gleaming headboard. Ortho Comlort Ortho Imperii Ortho Siesta $198 $298 $398 The Cambridge I $448 $478 The Oakdale Ortho Prices Start At 'prlho Products are manulactured by Ortho Mattress OWROOMS?803TORES7rOSERVEiYOU MURiRif 6148 S. State St. o 268-35- 63 OGDEN 4099 Riverdale Road o 621-55- 01 rpPEN:DAIiyB0l92STC0l6lLSUH2r6ISASTERCARD2ORTERMS:ofr&PPROyED:CREDITi our fotoA aSfeb FREE KanFca ! COLOR PRINT ! FILM I One roll Free with purchase o( two rolls (like exposure) anici I COTTONWOOD MALL I 277-337- 3 WHILE SUPPLY LASTS Ban Brass $158 Solid Oak wro LIFETIME WARRANTY & Buy QUALITY SOFAS (Across from Fashion Place) tp our everyday low prices and pop up unit avanabe at extra cost only FURNITURE FACTORY Citizens for Tax Justice also supports the bill, but has taken no posirules. Nor has tion on the phase-iCommon Cause, another supporter "My understanding is that they were really scratching around to keep the and this was part bill revenue-neutra- l of that effort," says a spokesman Public Citizens Tax Reform Research Group, which favors the bill, also has taken no position on the percent and 27 percent, that would replace the current system of up to 15 ta brackets ranging from 11 percent to 50 percent. The lower rates are considered the principal purpose of tax overhaul. l days MATTRESS day July-1987- Six months of lower rates but 12 months of lost deductions, credits, deferrals and adjustments will mean that many will not receive a promised tax cut while others will see their taxes go even higher.say tax experts The committee has been been boasting of the two new, low rates, 15 Committee sty. Mattresses All self-style- I half-yea- DAYBEDS 10-- 6 3 ered rales The 6 2 percent average tax cut for individuals announced bv Pac kwood is an estimate for the 1988 tax year No estimates have yet been made for 1987 The oddity in the tax bill has received little nulice thus far Not even citizens lobbies have the and the committee it, fully analyzed has released scant details on the timing of the bill s provisions Why do they need it I dont know, says David Keating, chief analyst and vice president of the National Taxpayers Imon. which supports the bill We would prefer to see go into effect the first everything " By 9, SAT. MON.-FRM- 0 i $io! OFF! I Transfe' Youf HOME MOVIES ToVideoTape Sake $tO 00 on Mm SbO 00 Video Transfer Q,fler Limtl 0ne coupon per customer Coupon must accompany order L Si Coupon Good Thru 561 990 E Fort Union Blvd 1765 W 6400 Soum B H a 8601 99b 7681 FREE KECK CLINIC bT WED. MAY 21 CLINIC AT 6 P.M Aluminum Tennis Racket Limit-- 2 per Customer 50 Only! Hand Lantern ray-o-va- c $13.95 $3.95pair! (battery included) Limit- -2 per Customer Free 3-Ri- ng fr VV CIM w Binder with Shoe Purchase while they last! " x 6" x " 1 x 4" x 1 6' 2 Dog Eared .89 ea. 6' 2 Flat Top .35 ea. Full Units Full Units Prices starting at just $3.95 FREE! STAIN COLOR ASSURANCE Bring in a sample of your wood See for yourself before you buy AVAILABLL IN 32 COLORS CASUAL AEROBIC WRESTLING SOCCER RUNNING BOWLING TENNIS TRACK SPIKES Fast, Strong Bond Excellent Water Resistant Use for Decks, Foam and Treated Lumber SAVE 20 BASEBALL BASKETBALL GOLF KIDS SOCCER HI-T- OP t ON ALL franklin Caulk Adhesives & ! L CMR? U M B E. R SOUTH 'MAIN STREET 487-863- 1 Limited Quantities on Certain Items |
