The same thing will happen here in a couple of years when the triple-digit inflation kicks in from the currency implosion.
You don't really believe printing those trillions of dollars of "stimulus" to Obama's crony-criminals will have no effect, do you?
Inflation is why the top tax bracket has grown from $250,000 in 1993, to $388,351 today, but I don’t hear anyone discussing that tidbit. The new ceiling is being pushed back 19 years in inflation adjusted dollars, and no one seems to notice. At this point, I’m willing to concede some beliefs in order to solve the problem. What I believe is that lowering tax rates would produce more revenues in the long run, while the WH’s proposed higher rates will produce less.