Friday, November 24, 2017

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.


(chart via Paul Krugman)

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