The Lurker
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- Jun 25, 2012
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Please read this and discuss it.
Ron Paul Just Exposed How the New 'Tax Cuts' Will Actually 'Hammer' the Middle Class
For the record, I didn't know where to put this. So please don't give me a warning or ban me over this.
Anyway, I thought that this would prove for an interesting discussion.
Ron Paul Just Exposed How the New 'Tax Cuts' Will Actually 'Hammer' the Middle Class
However, the bill also has some serious flaws, the worst of which is that it adopts the chained consumer price index, or chained CPI, which Paul described as “the most insidious tax.” He noted that chained CPI increases the inflation tax, which hurts Americans because instead of taxing real wages, it taxes “the illusionary gains in income caused by inflation,” and the government then uses chained CPI “to adjust tax brackets pushes individuals into higher tax brackets over time.”
As The Free Thought Project has reported, in addition to the controversy over the content included in the tax bill, there have also been questions about why Congress wanted to pass it so quickly. Earlier this month, members of the Senate reported that they received copies of the massive bill, just hours before they were expected to vote on it, and some of the pages included illegible hand-scribbled amendments in the margins.
For the record, I didn't know where to put this. So please don't give me a warning or ban me over this.
Anyway, I thought that this would prove for an interesting discussion.