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Unless the tax brackets are adjusted, inflation with rising wages means more people in higher tax brackets. If corporate earnings go up, there's more for the IR

Unless the tax brackets are adjusted, inflation with rising wages means more people in higher tax brackets. If corporate earnings go up, there's more for the IRS too though that might be wiped out by the lessening value of each dollar.

whimsicalism 4y ago
Unless the tax brackets which are adjusted for inflation every year continue to be adjusted as usual*
lpasselin 4y ago
Are you saying the IRS does not adjust tax brackets to follow inflation properly?
xxpor 4y ago
The brackets are indexed to C-CPI as of 2018
JumpCrisscross 4y ago
> unless the tax brackets are adjusted Most IRS brackets and thresholds are tax adjusted [1][2]. Tax brackets certainly are, as is the personal standard deduction. [1] https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2022 https://www.irs.gov/newsroom/irs-provides-tax-inflation-adju... [2] https://thehill.com/policy/finance/580961-irs-announces-inflation-adjustments-for-standard-deduction-tax-brackets/ https://thehill.com/policy/finance/580961-irs-announces-infl...