Thursday, January 04, 2018

The New Tax Plan attacks the Consumer Price Index used for increases in SSI payments.

For tax years beginning after Dec. 31, 2017 (click here) (Dec. 31, 2018 for figures that are newly provided under the Act for 2018 and thus won't be reset until after that year, e.g., the tax brackets set out above), dollar amounts that were previously indexed using CPI-U will instead be indexed using chained CPI-U (C-CPI-U). (Code Sec. 1(f), as amended by Act Sec. 11002(a)) This change, unlike many provisions in the Act, is permanent

It is plutocratic through and through.

December 18, 2017

Over 12 months (click here) ended November 2017, the Consumer Price Index for All Urban Consumers (CPI-U) rose 2.2 percent. The indexes for food and energy both increased...
The new tax law attacks specifically the urban rate. It is racist. The CPI has a history. The reason the tax rates don't change for the wealthy and they change over 10 years to return to old levels for the poor and middle class is to take back any wealth the underclasses have gained.

CPI-U vs CPI-W

With the fast increase in prices during World War I, (click here) the Consumer Price Index (CPI) was created in order to efficiently calculate adjustments in the cost-of-living of workers. It measures the price level changes of goods and services that are bought by a household.

The prices of the samples of each item are collected regularly in order to come up with the CPI. It consists of the prices of the different categories of goods and services that show how consumers spend their income. The Consumer Price Index has experienced several changes as the world entered World War II and as there were huge changes in buying patterns after it ended. In the late 1970s, the CPI-U and the CPI-W were introduced.

The Consumer Price Index for All Urban Consumers (CPI-U) was introduced in 1978. It includes all urban households within an area that have inhabitants of 2,500 or more. It does not include rural consumers and those that are in military and other institutions. It represents the buying habits of more than 80 percent of the population of the United States including those that are self employed, retired workers, professional workers, clerical, and part-time workers, and even those who are unemployed. It is more of a general index and traces how retail prices affect urban consumers of goods....
Steve Mnuchen absolutely hates the USA's social programs. Seething hate. Seething hate for the Democratic demographic.

6.Both the CPI-U and the CPI-W do not include rural consumers and those in the military and other institutions.