Issue link: https://www.epageflip.net/i/14446
Saturday, August 7, 2010 – Daily News – 3A Local Calendar To add an upcoming event in the Local Calendar, submit information well in advance to the Daily News, attention Calendar, P.O. Box 220, Red Bluff, 96080 or e-mail to clerk@redbluffdailynews.com. Include a contact name and telephone number. SATURDAY, AUGUST 7 Red Bluff Farmer’s Market, 8 a.m. to noon, Red Bluff River Park, 527-6220 Corning Chris Gardner in Concert, 9 p.m. to 1 a.m., Rolling Hills Casino, free admission, 528-3500 or rollinghillscasino.com SUNDAY, AUGUST 8 Red Bluff Airplane Display Days, 8 a.m.-1 p.m., Red Bluff Airport, 1760 Airport Blvd., 527-6547 Decorative Brushes of No. California, 10 a.m., Red Bluff Community and Senior Center, 1500 S. Jackson St. WHEE Picnic and Prayer Circle, 4:20 p.m., 22116 Riverside Ave. MONDAY, AUGUST 9 Red Bluff Al-Anon, 6 p.m., Presbyterian Church, Jeffer- son and Hickory Cardiac Support Group, 7 p.m., St. Elizabeth Community Hospital, Columba Room, 527-5077 HIRE (Head Injury Recreational Entity), 10 a.m., St. Elizabeth Community Hospital, Coyne Center, Rusty, 529-2059 Key to Life, 6 p.m., Family Resource Center, 220 Sycamore St. Ste. 101, 528-8066 Red Bluff Community Band Concerts in the Park, 8-9 p.m., Red Bluff River Park, 527-3486 Salvation Army Writing Class, 9:30 to 11 a.m., 940 Walnut St., 527-8530 Spartan Athletic Booster Club, 6:30 p.m. Red Bluff Union High School Media Center/ Library Group, 9 a.m. to 3 p.m., Family Resource Cen- ter, 220 Sycamore St. Ste. 101, 528-8066 Tehama County Sheriff’s Search and Res- cue, 7 p.m., Stillwell Training Center, Park Ave. near Baker Road. 527-7546 Corning Corning Neighborhood Watch, 5:30 p.m., City Hall, 794 Third St. Narcotics Anonymous, 7 p.m., 815 First St., 385-1169 or 566-5270. Meetings are everyday through Saturday with an additional meeting at noon on Mondays Sewing group, 9 a.m., Family Resource Cen- ter, West and South streets, 824-7670 Spanish Adult Education, 5 p.m., Family Resource Center, corner of West and South streets, 824-7670 Strategies for Success, Life Skill classes, 1:30 p.m., Family Resource Center, West and South streets, 824-7670 Tehama County Mental Health Stakehold- ers meeting, 1 p.m., Rolling Hills Casino, Carli- no’s Event Center Richfield 6:30 p.m., Richfield Neighborhood Watch Program, Richfield Elementary School, 23875 River Road, 824-6260 TUESDAY, AUGUST 10 Red Bluff Antelope School Board, 5:30 p.m., Berrendos School Library, 401 Chestnut Ave. Bend School Board, 6:30 p.m., 22270 Bend Ferry Road Community BLS/CPR class, 6 p.m., St. Eliza- beth Community Hospital, Columba Room, 529- 8031 International Order of the Rainbow for Girls, 6:45 P.M., Masonic Hall 822 Main St. 527-6715 PAL Kickboxing, 4 p.m., 1450 Schwab St., 529-8716 or 200-3950 Photo club, 6 p.m., Family Resource Center, 220 Sycamore St. Ste. 101, 528-8066 Playtime Pals Playgroup, 9:30 a.m., Family Resource Center, 220 Sycamore St. Ste. 101, 528- 8066 Red Bluff Rotary, noon, Elks Lodge Red Bluff Union Elementary School District board meeting, 5:30 p.m., 1755 Airport Blvd. Spanish speaking support group for special needs families, 9:30 a.m. Metteer Elementary School, 695 Kimball Road. 876-832. Childcare is provided Tehama County Board of Supervisors, 10 a.m., 727 Oak St. Tehama County Fish and Game, 8 a.m., Con- ference E, courthouse annex Tehama County Flood Control and Water Conservation District, 8:30 a.m., 727 Oak St. Tehama County Genealogical and Historical Society, 6:30 p.m. Red Bluff Library, 529-6650 Tehama County Patriots, 6 p.m., Trinity Landmark Missionary Church, 20920 Hampton Rhodes Drive Last thing economy needs is dividend tax hike Are you ready for a 164 percent tax increase? It's just around the corner. On Dec. 31, the maxi- mum tax on dividend income will jump from 15 percent to 39.6 percent -- a 164 percent increase -- if Congress doesn't act to prevent it. The low tax rate on divi- dends was set as part of the 2003 Jobs and Growth Tax Reconciliation Act. It set the maximum tax on dividends at a low 15 per- cent, and a zero tax rate on dividends for those in the 10 percent and 15 percent tax brackets -- mostly seniors who rely on dividend income. But that provision "sunsets" at the end of this year, along with the rest of the so-called "Bush tax cuts." Many people will shrug their shoulders and say the tax on dividend income is paid only by wealthy peo- ple. Why should anyone worry if they pay a few more dollars in taxes on money they didn't "earn"? But it's that kind of think- ing that will likely prove dis- astrous in an economy struggling out of recession. So, here are a few points Congress should keep in mind before it allows taxes on dividend income to rise: • It's not just the wealthy who collect dividends. According to a study by Ernst & Young, in 2007 there were 27.1 million tax returns reporting dividend income. And 36 percent of those returns reporting divi- dends received showed income of less than $50,000. Tehama County Gleaners will be distrib- uting food at the follow- ing times and places: •August 16, from noon to 2 p.m. at the Recre- ation Hall in Rancho Tehama •August 17, from 9 a.m. to noon at the Masonic Hall in Los Molinos at 25020 Police reports The following informa- tion is compiled from Red Bluff Police Department, Tehama County Sheriff’s Department, Corning Police Department and California Highway Patrol. Collision • No one was injured in a hit and run between a vehi- cle and a motorcycle at 2 p.m. Thursday on Rancho Tehama Road, west of Red Oak Road. Suzanne Cald- well, 60, of San Jose was driving east on Rancho Tehama Road about 25 mph with Benjamin Hodges, 22, of Corning behind her going about 50 mph on a 1987 Honda motorcycle. Cald- well noticed the motorcycle approaching and pulled to the right and stopped to allow Hodges to pass. As Hodges passed Caldwell, his motorcycle grazed the left rear bumper, tire and wheel of Caldwell’s vehicle. Hodges lost control of his motorcycle and slid across Rancho Tehama Road. Hodges falsely identified himself to Caldwell before fleeing the scene with promises to return with his driver’s license. Instead of returning he went to his res- idence and concealed his motorcycle behind a friend’s residence. The motorcycle was found and the Califor- nia Highway Patrol used it to make an identification. Both vehicles had minor damage. Fires • CalFire responded to two railroad tie fires caused by a train Thursday evening. The first was reported at 8:05 p.m. on railroad tracks off of Vintage Oaks Drive, northwest of Red Bluff. It was called in by an airplane flying over. Railroad traffic was temporarily stopped while firefighters put out a fire that damaged three rail- road ties, valued at $100. • It's not just older people who report dividend income. While nearly 60 percent of the returns show- ing income were filed by people age 65 and older, the balance of more than 40 per- cent came from younger people. For retirees, planned dividend income can keep them out of poverty and can keep them from tapping into fed- eral benefits such as food stamps and Medicaid nurs- ing homes. • Over the last 60 years, dividends have accounted for 40 percent of the total return on stocks. So if you're a long-term investor in your 40l(k) or IRA, a big portion of your retirement security will come from dividends paid on the stocks you hold. Raising taxes on dividends will make those stocks less attractive to investors -- like- ly impacting your own retirement plan. • A dividend tax increase could not only lead to "brownouts" in your invest- ments, it could impact your actual electric utility service. Electric utilities paid out more than $17 billion in div- idends in 2009 -- an average 70 percent payout rate. That makes their stocks attractive, so they can use stock instead of debt to raise needed capi- tal to allow them to repair and expand the electrical grid. Where will you plug in your electric car if the indus- try can't raise capital to keep the nation's infrastructure updated? The uncertainty hanging over the dividend tax is impacting the entire stock market. Chuck Carlson, Tehama-Vina Road •August 18, from 8 a.m. to noon at the Food Bank in Red Bluff at 20699 Walnut St. •August 18, from 8 a.m. to noon at the Senior Center in Corning All income must be reported. Income is gross monthly, not net. One card only will be issued CalFire cleared the scene at 8:44 p.m. The second fire was reported at 9:15 p.m. on tracks off of McCoy Road at south end of Matlock Loop, north of Red Bluff. It was reported by a passerby with a cell phone. Damage to the railroad ties was $200. Cal- Fire cleared the scene at 9:47 p.m. Arrests • Samuel Zachary Nagel, 20, Corning, was arrested Thursday by the CPD on suspicion of possessing a controlled substance, manu- facturing, importing selling or carrying illegal weaponry and possessing controlled substance paraphernalia. Bail was set at $22,500. • Emiliano Sanchez Barajas, 54, Gerber, was arrested Thursday morning on Hamilton Avenue by an unspecified agency on sus- picion of manufacturing, importing, selling or carry- ing illegal weaponry and possessing or owning a firearm or ammunition while being prohibited to do so. Bail was set at $12,500. • Ashley Renee Reynolds, 20, Red Bluff, was arrested Thursday night on South Main Street on suspicion of manufacturing, importing, selling or carry- ing illegal weaponry. Bail was set at $10,000. Theft • Matthew Raymond Anchordoguy reported a Rowles Road shop was bur- glarized Thursday morning. • Sally Upton reported the theft of items Thursday morning from the common area of a Green Drive apart- ment. •A fanny pack was author of "The Little Book of Big Dividends" (Wiley, 2010), for which I wrote the foreword, says: "I view this (tax uncertain- ty) as a huge nega- tive for stocks in general and dividend payers specifically should the current low tax rates not be extend- ed. I think you will find a better b uying opportunity Terry Savage The Savage for most stocks, including dividend payers, as the year progresses and uncertainties mount as to what will hap- pen to tax rates in 2011." In other words, don't expect the stock market to stage a huge rally with the threat of higher taxes hang- ing over it. Even worse, any kind of tax increase during a shaky recovery is bound to have a negative impact on the econ- omy. Yes, it's tempting to say that we need to reduce the deficit, but imposing a tax on capital is a very expensive and counterpro- ductive way to do that. Don't forget that dividend income is taxed twice -- once when the company earns the money to pay out, and again when it is received by shareholders. The impact of higher taxes on dividends Sun Country Quilters Community Service Tehama County Gleaners food distribution per household. All other sites in the county will be at the usual times and places. Applications for food bank cards will be accept- ed on the day of give- away. Bring large paper or plastic bags if possible. More information is available by calling 529- 2264 or 527-1795. reported stolen Thursday morning from Dog Island Park. The pack reportedly contained a silver Gerber knife, a cell phone, reading glasses and a set of keys. The loss was $111. •A cell phone and a pack of cigarettes were reported stolen Thursday night on Kimball Road. The ciga- rettes and a Samsung R450 phone, valued at $220, were reportedly left on a porch and stolen when the caller was away for about 10 min- utes. • A theft was reported early Friday morning on Monroe Street. Vandalism •A communal mailbox was reportedly found rid- dled with bullet holes Thurs- day morning on Highway 36W. •A vehicle tire was reported slashed Thursday afternoon on Mina Avenue. Odd • Someone called 911 to report a pair of naked women and a naked man Thursday afternoon at William B. Ide Adobe State Historic Park. Police were unable to locate anyone matching their description. • Police reportedly found an iPod Thursday morning in one of their vehicles. I want to thank Irene Fuller of Heart Felt Designs for all the help that she gave me in putting my tatted flag together. I also appreciate that she kept it in her store so many more could see it! I also want to thank Diane of The Big Picture for the won- derful job that she did in framing it! Ted Mynatt 530-528-8120 10 Gilmore Rd. Red Bluff Corner of Antelope & Gilmore 530-528-8120 10 Gilmore Rd. Red Bluff Corner of Antelope & Gilmore Truth on Money hurts companies, sharehold- ers and individual con- sumers. As dividend-paying companies like utilities raise capital by selling stock, they expand their facilities, creating jobs and more revenues. When investors face falling returns because of dividend cuts, they are less likely to buy stocks. And when con- sumers face an income cut because of higher taxes on dividends, they slow their spending. So, when you start hearing about this next tax increase, which will occur by simply letting the dividend tax rate increase as scheduled, don't shrug your shoul- ders and assume it will only impact the "wealthy." The impact will go far beyond those who actually pay the tax, as is always the case. And that's the Savage Truth. Terry Savage is a registered investment adviser and is on the board of the Chicago Mercantile Exchange. She can be reached at www.terrysavage.com. She is the author of the new book, "The New Savage Number:How Much Money Do You Really Need to Retire?" Limited time offer expires July 31, 2010. Other conditions and restric- tions may apply. See store for full details. Offer valid only at NorCal AT&T Authorized Retailer stores. Rebate debit card offer. Price before mail-in rebate is $149.99. Must purchase BlackBerry Unlimited Plan and sign new 2 year service agreement ot qualify for discounted pricing and rebate. Retail price Blackberry Pearl 8110 is $399.99.