What Will Happen to Taxes if the Tax "Reform" Plan is Passed in Its Present Form

It's what you would expect from a street hustling tax "reform" president, a teaser cut in taxes for many (but not all) early on and then a steady climb in taxes for most individuals after that.

And it will be decidedly worse if price inflation accelerates (as I expect it will), given the new chained price inflation index that will be used to determine tax brackets that will mislead by downplaying the true rate of inflation.

  -RW

(chart via Paul Krugman)