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To: MeneMeneTekelUpharsin

For a long time I have said that the politicians don’t need to raise taxes, they just need to wait and inflation will put people in higher income tax brackets automatically. The problem with the income tax is that it isn’t indexed. Years ago, when the income tax was invented, a person could live well on one income, because prices were so low, and they started there first full time job below the level of the income tax, or in the lower levels. Gasoline was about 33¢ a gallon. As inflation raised a person’s wages, their first full time job usually put them several brackets up when they started.


54 posted on 12/04/2012 5:48:24 AM PST by Smorgasbord
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To: Smorgasbord

Use a flat rate and there’s no need of indexing.


61 posted on 12/04/2012 7:51:01 AM PST by OneWingedShark (Q: Why am I here? A: To do Justly, to love mercy, and to walk humbly with my God.)
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