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BUSINESSCU STO M ERSSee the newestproduct lines for 1987PLUStheALL NEW Trillium linein our Booth %u00a7 144 at the'Brooklyn Works\September 23, 24 & 25 at Pier 2WE SELL & SERVICEPhonesFrom: NORTHCOM'S PREMIER, TRILLIUM, ITT, MITEL and TIEAhl-Tone sells, repairs and installssingle and multi-line telephonesystems. Our prices are competitiveand our customers tell us our serviceis great! Try us and see.Call us today for an appointment,stop by our store, OR, see us at theBrooklyn Works Exhibit onSeptember 23, 24 & 25When you need a phone, just call...%u25a0 %u25a0%u25a0 ______ A/tar tune communicationsA-T-C We Service Everything We Sell718-748-8500 6749 Fifth Avenue %u2022 Brooklyn, NY12 E 32 Street NYC %u2022 212-684-5959Continued From Preceding Pagetax benefits of paper losses created by investments in real estate, farm and otherla* aiictlcia. The Senate bill, how ever,eliminates those benefits, though the lossesaccrued from oil shelters could still be usedto reduce taxes on other income.For the individual taxpayer, the two billsdiffer in progressivity and the types ofdeductions allowed. The House billpreserves four of the 14 tax brackets nowused in the tax code, while the Senate version has left only two. The Senate also votedto repeal or restrict deductions for medicalexpenses, interest payments, charitableB rooklyn, wwwwwwowwaw wow;'__________________ mecontributions, personal business expensesand political contributions, while the Housebill continues them.r%u00bb M nvi D iuuiuyu v/viigi ea& iiiem uers, nunc uiwhom serves on the tax-writing committee,the legislation%u2019s im pact on the individualappears to be of primary importance. Aconference committee of Representativesand Senators Ls now meeting to reach afinal agreement for passage of the reforms.No one will predict when the final versionwill emerge, but everyone says there willstill be %u201cextensive debate%u201d after the Augustvacation on the conference committeereport.REP. ED TOW NS%u201cState and local tax deductions are essential for people who live in states like NewYork,%u201d says North Brooklyn Congressmember Ed Towns. This continueddeductability in the now-being-negotiatedconference committee package is his majorconcern. While the deduction was not partof President Reagan%u2019s proposal, the Houseof Representatives agreed to keep the existing deductions and the Senate onlymodified the current sales tax provisions.Towns is also concerned about progressivity in the reform codes. While theHouse voted to include four tax brackets at15, 25, 35 and 38 percent, the Senate bill onlyprovides for a 15 and 27 percent bracket.%u201cI think the compromise will includethree brackets,%u201d he says, which was whatReagan first proposed. %u201cI think that is acceptable but it really should be four, likethe House bill called for.%u201dFor Towns, though, a major remainingconcern appears to be the lack of deficitreduction provisions in the two bills underconsideration. The House calls its bill%u201crevenue-neutral%u201d and the Senate bill is trying to do the same thing on the issue,though last week the conferees were about$21 billion short of what is now produced.%u201cI don%u2019t think we will ever find a moreopportune time to deal with the deficit,%u201dsays Towns. %u201cIt%u2019s very unfortunate that it isnot being discussed, because we areoverlooking a perfect chance to close thedeficit.%u201d%u201c The fact that it is revenueneutral is disappointing. Wehave an opportunity to helpcontrol the deficit and reduceit, but we're passing it up. %u201dLuncheon Ferry Takes A Voyage In HarborThe Dolly Madison %u2014 a twin deck ferryrecently purchased by Fulton Ferrydeveloper David Walentas - will take itsinaugural cruise August 14, christeningweekday lunch cruises.Prior to its purchase, the ferry shuttledacross the Potomac River, and Walentashas refurbished the ferry in hopes that ashuttle service between Fulton Ferry Landing in Brooklyn, and Wall Street in Manhattan will soon be established. The maidenvoyage kicked off a special luncheon service that will offer six foot long Manganaroheros, to munch on while the ferry sportsacross the East River and the New YorkHarbor for an hour.Walentas is still waiting to hear who willreceive the nod to operate ferry service between the two boroughs on a permanentbasis.The City of New York%u2019s Department ofPorts, International Trade and Commerceissued a invitation to bidders that originallyoutlined a schedule that called for ferry service to operate between Fulton Ferry,Brooklyn and the South Street Seaport inManhattan in the spring of this year.The seven bidders who responded becamefive in March and City officials still havenot announced their final choice, thoughthey said last month a decision has beenmade %u2014 apparently in favor of Walentas %u2014and that the choice is now being reviewedat City Hall. The Walentas proposal wasmade in partnership with Skyline Managem ent Commuting and Sightseeing.|jfk Cr* Cl Ccq M j r a eupl %u00abjjui lafp sgjp mini J p lif*Pag%u00ae 4, THE PHOENIX/BROOKLYN.INC SECTION TWO, August 14,1986< 0< 0m< 0< 0<0< 0m<0< 0<0< 040m< 04 040<0<0<0{ 0Cfe ISP If I fInvestment BankersN.A .S.D. JONATHAN KLEIN S.I.P.C.Portfolio ManagerI am interested in receiving information on Portfolios in;%u25a1 OTC Stocks-America%u2019s Growth Companies%u25a1 New Issues-Ground Pioor Investment Opportunities%u25a1 Municipal & Government Bonds-Tax-Free Incomeon InvestmentI am interested in investing%u25a1 $2,500-10,000 %u25a1 $10,000-25,000 %u25a1 $25,000 +N a m e ________________________________________________________________A ddress City . Z ipT I -------------1----------a l u m v p u v / u w - 11 T__%u2014I______1 T V / 1 IV p i i V / U W -Fill out & mail to:JONATHAN KLEIN, Stuart-James Co. Inc.360 Lexington Ave., New York, N. Y. 10017(800)424-4463 or(212)557-7111sgjpl JO l a S %J|S tJ p fepl t^jpi a l l ta ll J S m pI a l l a jjl aJfB mffe m/jlb