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
One of the most amazing feats in chess history just happened, and no one noticed.
The Extraordinary Amicus Brief That Attempts to Explain the Wu-Tang Clan to the Supreme Court Justices
Amazon Is Officially a Gadget Company. Here Are Its Six New Devices.
The NFL Explains How It Sees “the Role of the Female”
Amazon Is Officially a Gadget Company
How Much Should You Loathe NFL Commissioner Roger Goodell?
Here are the facts.
How to Order Chinese Food
First, stop thinking of it as “Chinese food.”