This is Interesting
After being told by Democrats and Republicans that there must be no increase in middle class taxes, we now learn that the hottest new budget deal idea is the “Chained CPI,” a new way of inflation indexing under which tax rates would increase the most for … you guessed it … the middle class!
Source: Tax Policy Center via Dylan Matthews
I am not surprised.
Just out of curiosity — what metric defines middle class? I think everyone may have a different group in mind when we say that.
The middle class continues to get hit with higher taxes and “fee’s” under this current administration.
At this rate, sooner than later there will be no more middle class.
Weren’t we told that obamacare wasn’t going to have any taxes either? Turns out we were duped into that one too.
“Center for Budget and Policy Priorities argue that the only fair way to do chained CPI would be to pair it with an increase in Social Security benefits, and to exempt Supplemental Security Income, which provides support for impoverished elderly, disabled and blind people. Otherwise, it’s just a typical “raise taxes, cut benefits” plan, and an arguably regressive one at that.”
I agree with Cindy. Middle class is thrown around too often without a firm definition.
Is it really that we were duped? I didn’t vote for any of this. I think marginalized is the better word.
Yet more evidence that politicians are hardly any more scrupulous than shysters and pickpockets.