In my original chained CPI article I noted that one reason deficit hawks like this method of cutting Social Security so much is that it's also a tax increase!
That's because Social Security checks aren't the only thing indexed to inflation, tax bracket thresholds are as well. So when the federal government switches to the C-CPI-U, households will "creep" upwards into higher brackets a bit faster than they otherwise would. This raises about $60 billion in the relevant scoring window, but the White House doesn't want to count that $60 billion in the math perhaps because they don't want to draw attention to the fact that this—yes—violates their much-repeated pledge to never raise a dime of tax revenue for the non-rich. I've been saying that was a dumb pledge for years, so I don't mind. But it is what it is.
TODAY IN SLATE
Forget Oculus Rift
This $25 cardboard box turns your phone into an incredibly fun virtual reality experience.
The Congressional Republican Digging Through Scientists’ Grant Proposals
Renée Zellweger’s New Face Is Too Real
Sleater-Kinney Was Once America’s Best Rock Band
Can it be again?
Whole Foods Is Desperate for Customers to Feel Warm and Fuzzy Again
I’m 25. I Have $250.03.
My doctors want me to freeze my eggs.