Economists support Reagan's new tax plan By Marilyn Parris Central State University economics professors have lost no time in evaluating Ronald Reagan's long-awaited tax-reform package. Is it really the answer to all the American taxpayer's dreams? Or is it all simply a smokescreen for more special interest group loopholes? And what will it • mean for students? Dr. William Hildred, associate professor of economics, believes that most students will benefit from the increase of the personal exemption from $1040 to $2000 which the new plan proposes. "This will also raise the taxable income limit and might actually exclude some low-
income students from paying any taxes at not perfect, the new tax-reform package is all," states Hildred. much better than the present tax system. However, Hildred also noted that some "The current tax laws are saturated with students will be hurt by the elimination of loopholes and preferential treatment for some popular tax deductions. special groups," said Maxwell. "It creates "Child care, for instance, is currently a an entire industry of tax lawyers and tax actax credit," said Hildred, "but the new countants just to sort through it." plan will only allow a percentage of the According to Maxwell, the new tax plan total child care cost to be deducted." will save time, effort and money in filling "Deductions for married couples will be out the forms. The mandatory minimum eliminated. Also, income from unemploy- tax will ensure that even the wealthy and ment compensation or health premiums large corporations will have to pay at least will be taxable," states Hildred. "Any of some taxes. these could have an effect on student tax Dr. Jean Caldwell, assistant professor of returns." economics, is also happy with the new tax Dr. Don Maxwell, chairman of the package. economics department, feels that, although "Heavily taxed businesses pass the ex-
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Vol. 83 , No. 58
June 20, 1985
pense on to consumers, however," adds Caldwell, "the 1981 tax cuts for businesses were too large. The new plan regains some of that revenue." Caldwell also believes that dividing the tax rates into three brackets will even out the tax burden and will also make the new tax package simpler to understand. Economists believe Reagan's new taxreform package will undoubtedly undergo some changes before it goes into effect. Maxwell, however, noted that the new plan is very similiar to a tax plan recently proposed by the Democrats. "This will create a basis for bipartisan action," said Maxwell, "which will make it easier to pass."
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Central State University, Edmond, Oklahoma
CSU administrators wait to write budget By Curtis Killman Editor Even though state lawmakers have passed a new revenue raising package, Central State administrators will have to wait awhile before they can sit down and write a new budget. CSU President Dr. Bill Lillard said it looks like there will be a definite increase in funding, but he added that the final increase won't be available until he gets a specific appropriations bill from the legislature. "Higher education needs between $74 and $84 million in new money, which would give us (CSU) maybe an increase of about 7 or 8 percent," said Lillard. "Right now though, we don't know anymore than we did a few weeks ago," he added. The legislature, trying to avoid a special session, recessed until Tuesday in order to save the six days remaining in this legislative session. The extra time will allow appropriations committees to divide up the money. Lillard said the long wait for the appropriations is unusual. "There have been times when the legislature has done their work, gone home, with staff and faculty contracts being issued before the end of the spring semester. If a new budget is not finalized by June 30, the end of the fiscal year, then administrators will have to get an emergency budget approval from the two governing boards of Regents — The Board of Regents of Oklahoma Colleges and The Oklahoma Regents for Higher Education. "Then you're able to continue your spending at the same rate of the previous year for the first
Maintenance crews worked throughout the week installing new power lines on campus in an attempt to alleviate some of the "brown-out" problems that occur during the summer months. See related editorial, page 2.
In this issue. . New absence rule hits students...page 3 Channel 2 begins new season...page 6 Sports year recapped...page 7 CSU sports ranked 5th...page 8
quarter (July-Sept.)," said Lillard, adding that, "usually by two weeks into July you have a new budget adopted" and contracts can be issued. In the meantime, the Board of Regents of Oklahoma Colleges will meet 9 a.m., Friday at the Education Building in Oklahoma City, a regularly scheduled meeting, saving any budget recommendations for special meetings later in the month. "What we have normally done is had our regular meeting on the third Friday," said Lillard, "and then schedule a special meeting — only for budget consideration — sometime before the end of June." Lillard said that administrators number one priority will be directed towards faculty and staff salaries. "You get what you pay for and we have an outstanding faculty and staff," said Lillard, pointing out that they are "the highest paid in the State of Oklahoma." Lillard said CSU accomplishes this by working a little harder. "We tend to have fewer employees per thousand students...than do most other colleges and universities in the State," said Lillard. "The attitude of all of our people," Lillard added, " is that we'd rather work a little harder and be paid a little more, than to have mediocre salaries and have a lighter teaching load, and be concerned about making a living, and going out moonlighting all the time. "I've had faculty members tell me the last three or four years, that for the first time in their professional career they've felt they did not have to work in the summertime to maintain an adequate standard of living." Lillard pointed out that due to the heavier teaching load some faculty average salaries are $4,000 a year more on a nine-months contract.
War veteran to speak on world peace, NATO Geoffrey T.J.O. Dalton, Vice Admiral of the Royal Navy and Deputy Supreme Allied Commander of the Atlantic, will speak on world peace and NATO prospects for the future at 7:30 p.m., Monday at Central State University as a part of the Colloquium of Distinguished Statesmen and Scholars. The Colloquium is sponsored by CSU President Dr. Bill Lillard; Dr. James G. Caster, director,
Bureau of Governmental Services, and Leroy Crozier, chairman, department of political science. Dalton's public address will be held in the Liberal Arts Auditorium. A reception will follow at 8:45 in the Liberal Arts faculty lounge. Born in Kuala Lumpur, Malaysia, in April, 1931, Dalton was educated at Reigate Grammar School. He joined the Royal Navy
in 1949 and served in the Korean War. In 1958, he commanded the minesweeper HMS Maryton in the Mediterranean and Far East. After completing the Naval Staff Course at Greenwich in 1962, he returned to sea on the HMS Dido where he spent most of the cornmission in the Far East during which time the confrontation with Indonesia began.