Tox Motter of lmportonce

On January first social security taxes went up from ll per cent to 2 per cent on both employers and employees.

On January first the excess profits tax went out of business. This tax, which was started in the middle of 1950 by the Democrats, and extended by the Republicans in 1953, was strictly a revenue-raising proposition. It was levied at a basic rate of 30 per cent,- which, together with the 52 per cent regular corporate rate could result in a maimum of 82 per cent on the top layer of corporate earnings. Flowever, a ceiling provision limited the total to 7O per cent.

On January first individual income tax rates dropped about 10 per cent.

On April l, 1954, reductions in excess tax rates on a long list of products are scheduled, unless Congress should act to stop it.

On April l,1954, the corporate tax rate is scheduled to drop lrom 52 pe rcent to 47 per cent. The administration wants present rates retained. There will be a battle on this.

On April first the capital gains tax on corporations is scheduled to drop from 26 per cent to 25 per cent.

Son Jooquin Hoo-Hoo Club Tb Meet

Bud Barber announces that ihe San Joaquin Hoo-Hoo Club No. 31 willthold its annual ladies night dinner at the Sunnyside Country Club near Fresno, the night of January 16, 1954. There will be cocktails, dinner, dancing, and entertainment.