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It's worse. Many people could see their fractional tax burden increasing as their nominal wage rises and crosses higher tax bandings. Inflating is a slow theft,
by neuroma 5y ago
It's worse.
Many people could see their fractional tax burden increasing as their nominal wage rises and crosses higher tax bandings.
Inflating is a slow theft, and the description of "financial oppression" is apt.
- walls 5y agoYou definitely don't know how progressive tax brackets work.
- refurb 5y agoTax brackets in the US are indexed to inflation. They weren't always, but that was changed in the 80's I think?
- notreallyserio 5y agoIt doesn't look like the increase is quite 6% across the board, however: https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2022 https://www.irs.gov/newsroom/irs-provides-tax-inflation-adju...