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(Studio) Comments with regard to President Carter's goal of balancing budget by 1981, made by Congress Budget Office chairperson Alice Rivlin, noted. Report with regard to advantages taken by rich of legislature made to encourage investments and risky ventures.
REPORTER: Walter Cronkite
(NYC) Details with regard to use of tax shelters by wealthy and government losses as result given. [Tax shelter spec. William BRENNAN - cites amts. that can be saved.] Process of getting tax sheltered described. Brennan is from Johnstown, Pennsylvania, and sends out newsletter with regard to tax shelters. [BRENNAN - notes busmen. often say they don't care with regard to economy of certain move, just want to save taxes.] [IRS commissioner Jerome KURTZ - cites IRS (Internal Revenue Service) preparations to curb abuses.]
REPORTER: Ray Brady
- Brady, Ray;
- Cronkite, Walter
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