Tag: personal income tax
The federal income tax is generally indexed for inflation. Most particularly, the income brackets to which the marginal tax rates apply are increased in line with the “Chained CPI-U.” While the chained CPI-U has risen somewhat less rapidly than the headline CPI-U or the CPI-W used to adjust Social Security benefits, the adjustment will b…
Not all new ideas are good ideas. Recently two proposals have emerged that would essentially allow individuals to tap Social Security today in exchange for lower benefits in the future. The first was Congressman Tom Garrett’s (R-VA) Student Security Act of 2017, which would allow young people to pay off a portion of their student…
