Posted 10/13/2021 10:04 (#9266518 - in reply to #9266007) Subject: RE: Inflation and taxes
zkeele - 10/12/2021 22:52
I saw a post below about inflation that got me thinking. If wages rise with inflation, I know there will be a lag, many people will move into a higher tax bracket. Deliberate? Or coincidental? Seems like a good way to raise taxes and still be able to say you didn't raise taxes to me.
Now you're thinking.
Also inflation allows you (think govt) to pay down debt with these new inflated dollars. Not that I think that's the intention, but it allows them to "service the debt" a little longer to stay afloat.
Something else to consider, the govt is indirectly responsible. The Federal Reserve is the actual culprit.