Quote:
Originally Posted by GGG
Yeah so if taxes go up 3% in a 4.5% inflation environment that is a 1.5% tax cut.
Edit - or are you saying that last year we were deflationary therefore this years higher increase puts us back to say a 5 year average?
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Yeah that’s what I’m saying. The media likes to say the inflation rates are astronomical, and they give that one year figure. But when you look at the longer term trend, and include that we had some deflation last year, we’re in that 2-3% increase sort of thing. It doesn’t mean we can’t see inflation get out of hand (although hyperinflation is not likely), but it’s really not that high at this point.
Anyway, I think the tax hike is 3.88%.