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Showing posts with the label Maine Budget

The Chained Consumer Price Index: Standard of Living Spirals Downward As Cost of Living Decreases

I am taking a short break  from my story line to report of several other issues of import. the first being the new accounting method which the government has devised to calculate increases in the cost of living. Based on this new accounting devise alone, The government can now report that the rate of increase in the  cost of living is on the decline. The new method is call Chained Consumer Price Index.  It is in the newly proposed budget for Maine but I believe that the source is the federal government: Title 36: TAXATION  Part 8: INCOME TAXES  Chapter 841: INFLATION ADJUSTMENTS  §5402. Definition s This Part suspends the inflation adjustment for income tax brackets for tax year beginning in 2014 and 2015 and provides that the inflation adjustment calculation for tax years beginning after 2015 must be based on the Chained Consumer Price Index instead of the Consumer Price Index Here is my layman's analysis based on this article: Measu...