WHAT THE HELL IS CHAINED CPI? It happens every time: Republicans and Democrats get into a standoff over the federal budget, and their best plan for wriggling out of it is to nickel-and-dime people on Social Security and Medicare. The chained CPI also involves another nasty shock for average Americans. For the sake of fairness, using it as the Social Security cost of living measure would mean using it for other government calculations indexed to inflation, such as income tax brackets. What would that mean? Well, according to the Tax Policy Center, it would hit low-income taxpayers especially hard. Someone earning $30,000 to $40,000 would get whacked three times as hard, measured by the tax increase as a share of total income, as someone earning more than $1 million. seniorjournal/NEWS/SocialSecurity/2013/20131002_Chained_CPI_Affects_More_Than_Social_Security_COLA.htm
Posted on: Fri, 04 Oct 2013 22:34:21 +0000
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