davidaulloa/AmericanStories huggingface dataset:
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-15
To Reduce Burden

The final and best means of
strengthening demand among
consumers and business is to
reduce the burden on private
income and the deterrents to
private initiative which are i'm
posed by our present tax system
- and this administration
pledged itself last summer tc
an across-the board, top-to.
bottom cut in personal and
corporate income taxes to be
enacted and become effective
in 1868.
am not talking about a
"quickie" or temporary tax cut
which would be more appropri-
ate If a recession were immi-
nent. Nor am I talking about
giving the economy a mere shot
in the arm. to ease some tenn
porary complaint.
/ am talking about the &C
cumulated evidence Of the last
five years that our present tax
system exerts too heavy q drag
on growth - that 1t siphons
out Of the private economy too
large a share of personal and
business purchasing power -
that it reduces the financial
incentives for personal effort.
investment and risk-taking.
In short, to increase demand
and lift the economy, the Fed
eral Governments most useful
role is not TO rush into a pro-
gram of excessive increases in
public expenditures. but to ex-
pand the incentives and oppor-
tunities for private expendi-
lures
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-15

If we were operating at full
employment.
For all Of these reasons, next
years tax bill must reduce per-
sonal as we'll as corporate in
come taxes - for those in the
lower brackets, who are certain
to spend their additional take
home pay - and for those In
the middle and upper brackets
who can thereby be encouraged
to undertake additional efforts
and enabled to invest more cap
ital.
3. Third, the new tax bill
should improve both the equity
and the simplicity of our pres
ent tax system. This means the
enactment Of long-needed taS
reforms, a broadening of the
tax base and the elimination Of
modification of many specia
tax privileges.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-15
Two Pairs DeodIocked
For Sebring Golf Lead

SEBRING. Fla, Dec. is (AP)
Jon Gustin and Carol Mann
and Mason Rudolph and Kathy
Whitworth set out today to
unsnarl the traffic jam in
the $50, 900 Scotch Mixed Four
somes tournament here.
The GuStin-Mann and Ru-
dolph- Whitworth teams were
tied for first place with 1877
after SO holes and enjoyed q
four stroke lead over Sam
Snead and Shirley Engelhorn
who shot 141. Dave Raglan and
Mickey Wright were tied for
fourth place at 142 with Bobby
Nichols and Gloria Armstrong
Gustin, a former Middle At
lantic player now registering
from Gladwyn, Pa, and Miss
Mann, who learned to play
golf in Baltimore but now signs
from Chicago. shot So yester-
DAY to go with an opening
round II.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-15

are not caused by wild-eyed
spenders but by slow econom-
ic growth and periodic re-
cessions and any new recess
sion would break all deficit
records.
In short, 1t is a paradoxical
truth that tax rates are too
high today and tax revenues
are too low-and the soundest
way to raise revenues in the
long run is to cut rates now.
The experience Of a number
of European countries has
borne this out.
This country's own expert
ence with tax reduction in 1854
has borne this out. And the
reason is that only full en-
ployment can balance the
budget-and tax reduction can
pave the way to full employ
ment.
The purpose of cutting taxes
now is not to incur a budget
airy deficit. but to achieve the
economy which will bring q
budgetary surplus.
I repeat: Our practical
choice is not between a tax
cut deficit and a budgetary
surplus. 1t is between two
kinds Of deficits - a chronic
deficit of inertia, as the I'M
wanted result Of inadequate
revenues and a restricted econ
omy - or a temporary deficit
of transition, resulting from
a tax cut designed to boost
the economy, increase tax rev.
enue and achieve a future
budget surplus.
The first type Of deficit is
a sign Of waste and weakness
the second reflects an in
vestment in the future.
Nevertheless, as C h arm a n
Mills Of the House Ways and
Means Committee pointed out
this week, the size Of the def
cit is to be regarded with con-
cern-and tax reduction must
be accompanied, in his words,
by increased control Of the
rises in expenditures" That
is precisely the course we in
tend to follow.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-15
Quarter Horses
Race for Record
$207,750 Purse

LOS ALAMITOS. Calf, Dec
is (AP). Ten a. year = old
quarter horses battle II Out
today in the Los AlamitoS Flu
turity for a purse OF SCOT. $50
biggest money ever offered In
the West for any type OF horse
race.
The distance Is $50 yards
and for this brief blast down
the track the winner will re.
ceive So3.265
The previous high for g
purse In the West was the
S205.500 In the Santa Anita
Maturity for thoroughbreds In
1851.
The heavy favorite In the
futurity is Jet Deck. owned by
j. B. Chambers Of Littleton
Colo.
Others who qualified for the
Futurity were Palleo's Jeep
Moolar Bar. Lightning Belle
Romabar, Miss Bar Leo. &c
Eagle 90. Bar Depth. Miss Cor.
sair and Dogfacs. Each horse
will carry ll8 pounds.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-15
CCAdopts
New Rule on
Cage Grants

GREENVnLE, S. c., Dec. is
(AP).-Atlantic Coast Confer
ence basketball grant-in-aid
agreements will become effec-
tive a month earlier than in
the past, conference officials
decided yesterday.
The new rule. effective after
next July l, means the sign
ing and effective date will be
March Is.
The action was the only ma
jor legislation voted at the ses-
sion, although several other
issues were discussed. CON-
missioner Jim Weaver disclosed
that the idea of a national let
ter Of intent, whereby the sign
ing of athletes to grants-in-aio
would be honored nationally
on an interconference basis, has
gained momentum. 1t will be
discussed at next month.
NCAA meeting at Los Angeles
The basketball coaches pro-
posal to change the method Of
selecting its NCAA basketball
representative was held over
for further study. The coaches
want the team with the best
conference record to play the
tournament winner for the
NCAA berth. if the conference
champion fails to win the
tournament.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-15
Silver Spring
Turfman Given
1O-Year Ban
BY DICK O'BRIEN
Star staff Writer

BALTIMORE. Dec. Is. -
With Pimlico closing its fall
meeting today, the Maryland
Racing Commission took occa-
sion to hand down one Of the
stiffest penalties in years to a
Silver Spring, Md, owner
trainer.
The commission suspended
Alex Pollock for 10 years for
allegedly participating in an IL
legal claim during the Timon-
ium meeting earlier in the fall.
The board denied him the
privileges Of the ground Of all
race tracks in the State.
In a series of other verdicts
closing out the Maryland racing
year, the commission reduced
the suspension Of anoth e r
trainer, A. I. Taylor. and grant,
ed extensions Of apprenticeship
to Riders Mike Karpe and
Emanuel Addesa.
Pollock was involved in the
claiming of the filly Southern
Flight at Timcnium. John
Speaks Of Chevy Chase, Md,
testified at Pollock's hearing
before the commission that he
had given Pollock $1,000 to be
used in claiming the filly. Pol
lock denied he had ever seen
Speaks. Under the rules gov
erning the situation, Speaks
was ineligible to gain posses
sion Of q horse by a claim.
Taylor, a Canadian trainer.
originally was suspended for 90
days effective November 8 for
failure to register the "nerved"
horse, Alias. He will be REIN
stated December II and placed
in good standing before the
commission.
Nerving is the process In
which nerves are removed from
a horses leg so that he won't
feel the pain of an injury and
can continue racing.
The Maryland Jockey Club
Starter Handicap series. at a
mile and a half and the Aud
Lang Syne Purse at a mile and
sixteenth climax today's
closing Pimlico card.
In the Jockey Club Handi-
cap. Doctor Bern, Narwhal,
Pen Bolero. Moony, Leddys-
maun, San Appelle, Rocky
Bend and Dancing Ship have
been entered with Narwhal as
signed top weight Of 100 pounds.
They are all 3-year-olds and
are going for a $4,000 purse.
The Old Lang Syne offers
a well-matched field which in
cludes For the Road, the Van
Berg entry Of Space Com
mander and Kurii San; the
South American Importation,
Pombe I'd; Yeuxdoux, Nimmer
Red Sails and Best Brother.
Yesterdays nine-race card
drew a crowd Of 1884 which
wagered $974,182, as Jockey
Ronnie Ferraro scored in the
: last two races to bring hi
yearly total to 349.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-15
Cites Big Gains

In the last two years we
have made great strides. Our
gross national product has
risen II per cent while infla-
ton has been arrested. EN-
ployment has been increased by
1.3 million jobs. Profits, per-
sonal income, living standards
all are setting new records
Most of the economic indica-
tors for this quarter are up
and the prospects are for fur
ther expansion in the next
quarter.
But we must look beyond the
next quarter. or the last quar-
ter, or even the last two years
For we can and must do better
much better than we have
been doing for the last five
andNa-half years.
This economy is capable Of
producing without strain $50
$40 billion more than we are
producing today. Business earn
ings could be $7-8 billion high
er than they are today. Util-
ization of existing plant anc
equipment could be much
higher-and If 1t were, invest
ment would rise as well.
We need not accept an un-
employment rate of per cent
or more, such as we have hac
in so of the last 81 months
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-15
Lists Three Tests

Under these circumstances,
any new tax legislation enact
ed next year should meet the
following three tests:
/. First, it should reduce net
taxes by a sufficiently early
date and q sufficiently large
amount to do the job required
Early action could give US ex-
ira leverage, added results, and
important insurance against re-
cession. Too large a tax cut, OF
course, could result in infla-
ton and insufficient future
revenues - but the greater
danger is a tax cut too little
or too late to be effective.
2. Second. the new tax bill
must increase private consump-
ton as well as investment
Consumers are still spending
between 1924 per cent Of theil
after-tax income. as they have
every year since 1850. But thai
after-tax income could anc
should be greater. providing
stronger markets for the prod,
ucts of American industry.
When consumers purchas,
more goods. plants use more o,
their capacity, men are hireC
instead Of laid off. investment
increases and profits are high
Corporate tax rates must alsC
be cut TO increase incentives
and the availability Of invest
ment capital. But the Govern
ment has already taken majoi
steps this year TO reduce bust
ness tax liability and TO stimu'
late the moderniation, replace,
ment and expansion OF our pro
ductive plant and equipment.
We have done this through
the 1862 investment tax credi
and through the liberalization
OF depreciation allowances-tw'
essential parts OF our first steI
in tax revision which amounted
TO a 10 per cent reduction II
corporate income taxes worth
some s2.5 billion.
Now we need TO increase con
sumner demand 10 make thes'
measures fully effective - de,
mand which will make NOR
use Of existing capacity ant
thus increase both profits ant
the incentive 10 invest. In fact
profits after taxes would be a
least Is per cent higher toda.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-15
PARTIAL TEXT OF KENNEDY SPEECH
Tax Reduction Appropriate in 1863

FOLLOWING Is a partial teTt OF
President Kennedy'S address
last night before the Economic
Club OF New York:
Less than a month ago this
nation reminded the world that
1t possessed both the will and
the weapons to meet any threat
to the security of free men.
The gains we have made will
not be given up. The course we
have pursued will not be aban-
doned.
But in the long run, that
security will not be determined
by military or diplomatic moves
alone. 1t will be affected by the
decisions Of finance ministers
as well as foreign and defense
ministers-by the deployment
of fiscal and monetary weapons
as well as well as military
weapons-and above all by the
strength Of this Nations econ
omy as well as the strength OF
our defenses.
The economic health Of this
Nation has been and is now
fundamentally sound.
But a leading nation cannot
afford to be satisfied, to look
back or to pause. On oul
strength and growth depend the
strength Of others. the spread OF
free world trade and unity, anc
continued confidence in oul
leadership and our currency.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-15

Virginia Tech, Richmond
and The Citadel cast the mo"
votes in the ballotlng on the
new rule at the winter meeting
here.
Talk Of transferring the con-
ference's championship basket
ball tournament from the Rich
mond Arena. where it has been
held since 1885, died a-borning
at the meeting when Commits
sioner Lloyd P. Jordan reported
that a survey had shown that
no other place wanted it very
badly.
A final decision on the site
Of the 1864 tournament-the
1868 show already is set to re-
turn to the 5,000-seat arena
will be made at the 1863 tour
ney, February Bismarck 2.
The conference rejected 6
Davidson proposal that con.
ference teams be- required tt
meet all other conference teams
in every sport, but it made a
concession to the Wildcats in
the matter of basketball sched-
ules.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-15
Courses Open

Our choice. therefore. boils
down to one Of doing nothing,
and thereby risking a WIDEN
ing gap between our actual and
potential growth in output,
profits and employment-or
taking action, at the Federal
level, to raise our entire econ
omy to a new and higher level
of business activity.
If we do not take action,
those who have most reason
to be dissatisfied with our pres
ent rate Of growth will be
tempted to seek short-sighted
and narrow solutions-to resist
automation, to reduce the work
week, to shut out imports, or
to raise prices in a vain effort
to obtain full capacity profits
on under capacity operations
But these are all self-defeating
expedients which can only re-
strict the economy. not expand
it.
There are q number Of ways
by which the Federal Govern.
ment can meet its responsible
ties to assist economic growth
We can and must improve
American education and tech
nical training. We can and
must step up the development
of our national resources.
but the most direct and sig.
nificant kind of Federal &C.
ton aiding economic growth Il
to make possible an increase
in private consumption and in.
vestment demand-to cut the
letters which hold back pri.
vate spending.
In the past, this could bt
done in part by the increased
use Of credit and monetary tool
but our balance Of payments
situation today places limits OF
our use Of those tools for ex.
pansion.
1t could also be done by in.
creasing Federal expenditure
more rapidly than necessary
but such q course would soor
demoralize both the Govern
ment and the economy.
II Government is to retair
the confidence of the people, Il
must not spend a penny more
than be Justified on grounds o.
national need and spent with
maximum efficiency. I shall
say more on this in a moment
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-15
Trotters Playing
Here Tonight

The fun-loving. fun-making
Harlem Globetrotters make
their first appearance here this
season tonight at Washington
Coliseum. engaging the Allan
tic City Seagulls In their own
version OF basketball.
Sweetwater Clifton Meadow
lark Lemon and Clarence VIII
son are among the better-knowr
dribblers with the world-famous
Globetrotters. Their Glowing
as well as expert passing and
sharpshooting. is one OF the
teams features.
In addition 10 basketball the
program includes Cab Galloway
and an assorted group Of enter
tainers. The show starts al
$3.50 pm.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-15
Former Senator
Succumbs at 86

GREENVILLE. s. c., Dec. Is
(AP).-James Champ Osteen
former major league infielder
died yesterday at the home Of
his son near here after ar
illness Of several years. He
was 86.
Osteen broke into the major
league with the Washington
Senators in 1908. During hi,
four years in the big league;
he also played with the st
Louis Cardinals and the ole
New York Highlanders.
Osteen later managed minoi
league clubs in Dallas, Char.
lotte, N. c.. and Columbia.
He also coached the Furmar
University baseball team.
Among survivors is a son
Harry Osteen.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-15
Cost Cutting

Secretary Mcnamara Is I'M
dertaking a cost reduction pro-
gram expected to save So bill
lion a year In the Department
Of Defense, cutting down on
duplication and overhead,
closing down essential in
stallations, tightening pro-
curement and logistics, and
reducing purchases made on o
cost plus or non-competitive
basis.
other agencies are doing the
same. And had 1t not been for
adverse or delayed congress
sional actions on certain por-
tons Of this years tax, farm,
postal rate and other bills, still
more economies could have
been achieved.
In addition, I have directed
all heads Of Government de-
partments and agencies to
hold Federal employment I'M
der the levels authorized by
congressional preparations;
TO absorb through greater eff
ficiency a substantial part OF
the Federal pay increase; to
achieve an increase in pro-
ductivity which will enable the
same amount of work to be
done by fewer people; and to
refrain from spending any I'M
necessary funds that were ap-
propriated by the Congress.
1t should also be noted that
the Federal debt, as q pro-
portion Of our gross national
product. has been steadily re-
duced since this administration
took office.
This Nation can afford TO
reduce taxes can afford
a temporary deficit-but we
cannot afford to do nothing.
For on the strength OF our
free economy rests the hope
OF all free men. We shall not
fail their faith-and. God will
ing. free men and free nations
shall prosper and prevail.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-15
ECAC Urges
Quick End to
Sports Feud

NEW YORK. Dec. is (AP).-
There's no reason why they
couldn't settle this thing in 5
minutes"
That was the comment of an
official Of the largest college
conference in the country, after
the l33-school Eastern College
Athletic Conference called on
the Nations two warning sports
groups to get together by jan
uary !.
The ECAC adopted a resolu-
ton yesterday urging the Anna
teur Athletic Union and the
college-backed United States
Track and Field Federation to
submit their dispute to binding
arbitration by the end of this
month.
President Kennedy dealt q
verbal spanking to the groups
at his press conference Wednes-
day and called for immediate
arbitration.
Both sides agreed but set nc
date, and issued blasts at the
other for wrecking a coalition
agreement patched together
last month with the aid OF
Attorney General Robert Ken
nedy.
The EcAC, in its unanimous
action. said that II the two
groups did not start the arbi-
tration proceedings by January
/. II would recommend thai
colleges refuse to participate ir
AAU-sponsored meets. Thai
would wreck the coming indoor
track season.
An influential member Of the
ECAC said the resolution wa,
designed TO put heat on bott
organizations.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-15
Budget Deficit

When I announced In April
of 1851 that this kind of COM
prehensive tax reform would
follow the bill enacted this
year. ! had hoped TO present
1t in an atmosphere of a bal
anced budget.
But II has been necessary
to augment sharply ouI
forces-to step up our efforts
In space-to meet the in.
creased cost OF servicing the
national debt and meeting our
obligations to veterans.
These expenditure increases
let me stress, constitute prac.
tically all OF the increase,
which have occurred under
this administration. the re.
mainder having gone TO fighr
the recession we found In in.
dustry and in agriculture.
We shall. therefore. neither
postpone our tax cut plani
nor cut into essential nationa
security programs. This admin.
istration is determined h
protect Americas security anC
survival-and we are also de,
termined TO step up It's econom,
ic growth. I think we car
affordto do both.
Our true choice is not be,
tween tax reduction. on Tn,
one hand, and the avoidanc,
OF large Federal deficits or
the other.
II is increasingly clear tina
no matter what party is II
power, so long as our nationa
security needs keep rising. al
economy hampered by restric
tive tax rates will never pro.
duce enough revenue TO bal
ance the budget Just as 1
will never produce enough Job
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-15
BIG TEN EXTENDS
LIMIT ON TENDERS

CHICAGO. Dec. is (AP).-
The Big Ten extended the time
limits of offering athletic ten
ders and voiced support of an
inter conference letter-of-in-
tent program at its joint meet
ing of faculty representatives
and athletic directors yester-
day.
The faculty representatives
moved the date of sending out
tenders to prospective athletes
from May l to April / and
also cut from 81 days TO 10
days the time in which on
athlete decides to accept.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-15
At Current Levels

At the same time as our
tax program is presented to
the Congress In January, the
Federal budget for fiscal 1864
will also be presented.
Defense and space expendi-
lures will necessarily rise in
order to carry out programs
which are demanded by the
American people for their own
security, and which have
largely already been authorized
by the Congress with the sup
port Of both parties.
Fixed interest charges on
the debt also rise slightly. But
I can tell you now that the
total Of all other expenditures
combined will be held at ap.
proximately its current level.
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-15

BOSTON Bob cleroux. EOS, Montreal,
outpolnted Tom MeNeeiey, gnl, Boaton
tl0li Charley Scott, lI, PHILADELPHIA,
stopped Bob Fosmire, Jas, Boston (eli
jose Torres. les, New York. stopped Al
Hauaer, 40, Philadelphia az, Joe De.
Nucci, ltA, Newton, Mass, stopped Ernie
Smi.h: veg Van s,. Port: Ps ,, o. TED
100, Dedham, Mass. drew tl0l.
LOS ANGELES Don johnson, t2eh,
los Angeles, outpolnted PulEa serrAno,
l2qll, Sacramento tlol.
CHICAGO Ernest Terrell, ~, Chicago,
oulpointed Jack johnson, $40. Los An.
xelea Clol.
Francisco, and Giulio Rinaldi. t1glI,
drew tlol.
TOKYO -TAkeo Suzuki, ils,t. Japan.
ouipolnied VIC Campo, w, Philippines
Evening star. [volume] (Washington, D.C.) 1854-1972, 1962-12-15
Douglas Wins
Against Bates

Horace owens led Douglass
High to a 68-57 victory over
Bates last night on the Bates
court. owens scored ~ points
for the winners. who we're ahead
by is points at one stage. The
victory liked the Douglass rec
ord 10 three victories and nc
losses. II was the first game
for Rates.