Tag: inflation adjustment
This relatively forgotten program, enacted in 1972, has withered on the vine. A wise person used to argue that programs designed solely for poor people are poor programs – their benefits erode over time; unchanging income and asset tests reduce the eligible population; and they are expensive to administer. In contrast, programs like Social Security…
Both the House and Senate tax cut proposals change the measure of inflation used to adjust the income thresholds in the tax schedule. This shift to a “chained” consumer price index (CPI), which makes sense on the tax side, has also been proposed in the past for indexing Social Security benefits after retirement, where t…
