NPR thinks it's found a way the tax cut raises your taxes. It's wrong.
You might get a raise that outpaces inflation, and that might put you into a higher tax bracket. But even if that happens, you're still going to pay less
By Dan Calabrese —— Bio and Archives--December 28, 2017
American Politics, News | Comments | Back To Full Article
This one was going around a lot on social media, and the left - which is desperate to find something wrong with the tax cut - is seizing on it as proof that the whole thing is really just a screw job that will result in a tax hike for the middle class. The only problem is that they don't understand what they're reading, nor does NPR, which reported it, understand what it's talking about.
But it doesn't mean what they want it to mean, mainly because they don't seem to understand how marginal tax rates work.
According to NPR, you're going to get a tax hike after all because the new tax law uses something called chained CPI to calculate inflation:Welcome to CFP’s Comment Section!
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