Digitization made possible by the State of Minnesota Legacy Amendment’s Arts and Cultural Heritage Fund, approved by voters in 2008.
April 10, 1973 - Dr. Philip Stern, author of ?The Rape of the Taxpayer? talks about tax inequities. Wealthy individuals and corporations pay little tax due to loopholes. He talks aobut the oil industry and says we?ll be hearing more about the energy crisis and the need for a tax subsidy; however a study shows massive waste factor in drilling programs. He says the oil subsidy is misdirected and cites Gulf Oil. The companies know their risk because they drill so much. Small wildcatters should be getting the subsidy. He talks about joint filing for married couples and how it discriminates against all but the richest couples. This loophole costs more than Nixon?s talking about Congress overspending. If someone proposed a Welfare system that paid $720,000 a year to the richest couples and only $16 to the poorest and neediest we?d be out of our heads. We have this system, it?s not called Welfare, it?s called the Internal Revenue code. When asked why loopholes aren?t closed since this would benefit the majority Stern says the average taxpayer thinks he won?t make a differenceby himself. Another factor is financing of political campaigns and campaign spending. We won?t get tax reform until we have sweeping reform of campaign financing. Tax laws have amendments written for specific corporations. Municipal bonds are a misdirected subsidy; the interest on the bonds is tax free and doesn?t have to be listed on tax returns, Congress treats this as fictional non-existent income. He talks about Robert Short?s purchase of the Washington Senators baseball team for $1000 in cash and by borrowing the rest of it saved 4 million dollars in taxes.
April 11, 1973 - Speaker talks about accountability in construction of public buildings and cost escalation. The purpose and role of a construction manager is discussed. Instead of designing a building and handing it off to a builder, owner can look to one team to get him his building. If something goes wrong he knows who?s responsible.
April 11, 1973 - Fast track building technique starts construction before final budget is known. Many private lenders won?t commit construction money before they know the final budget. Changes would be needed from current practice to use this approach. Construction management technique of consolidating total responsibility in one group also needs adjustment in public attitude and law.
April 11, 1973 - Speaker says cable industry has claimed the bill is superfluous on one hand, while detrimental to the industry on the other hand. He says cable industry?s purpose is to kill the bill.
April 11, 1973 - cable bill could cover whole state or just metro area. What is a workable approach?
April 11, 1973 - EPA administrator William Ruckelshaus says today?s decision was his alone and he was not pressured by White House. George Allen of the EPA talks about issues the agency took into account concerning claims and fears from the auto industry and catalyst suppliers. He says by challenging conventional engine technology to its limits the government permits the marketplace to possibly come up with a better solution than catalysts to meet emission standards.
April 11, 1973 - Goldwater talks about Nixon?s refusal to allow witnesses and comment himself is beginning to hurt the Republican party. He?s hearing concerns from high level party officials, and ?fat cats? aren?t interested in giving money to the party until this thing is cleared up. He wants Nixon to let the American people know what he knows about this whole affair (Watergate).
April 11, 1973 - Speaker argues for school programs for talented children, says it?s important despite school districts facing levy limitations and wanting to cut programs. Minnesota is supposed to have one of the finest education systems in the United states but it hasn?t really taken care of one problem. Schools are ignoring talented students. He says that many students who have gone through school system end up dropouts, have behavioral problems, even end up in reformatories or other places.
April 11, 1973 - Senator Sam Ervin talks about his role in upcoming Watergate investigation hearing and how he would handle recalcitrant witnesses. Sen. Gurney talks about executive privilege and the political process. House Republican John Anderson reacts to yesterday?s testimony by Attorney General Kleindienst . He says extension and expansion of the doctrine of executive privilege offered byt the attorney general threw down the gauntlet to Congress to legislate and move faster than it thought.
April 11, 1973 - Interview with (first name unknown) Stern about the need for a "no loophole" tax system. This would benefit people who get income from wages and salaries, which is most everyone. Their taxes would be reduced. Right now Congress allows rich to manipulate income in tax system they pay zero tax. Mythology exists about capital gains tax rates.