AND your income taxes are not pegged to inflation like many teachers salaries, Social Security recipients, and public pensions. Like Dr Friedman said “Taxation without representation”
BUT, one’s tax deductions (itemized or standard deductions) are NOT indexed for the effects of inflation. This has been true for decades and with the idiot currently occupying the WH, it’s getting much, much worse.
BUT, one’s tax deductions (itemized or standard deductions) are NOT indexed for the effects of inflation. This has been true for decades and with the idiot currently occupying the WH, it’s getting much, much worse.