From Bunn and Pomerleau/Tax Foundation, “Will E.J. Antoni Raise Your Taxes?”:

Every year the IRS adjusts more than a dozen tax thresholds to account for inflation, a process called indexing. In 2020 the 10% tax bracket applied to income up to $9,875 for single individuals and $19,750 for married couples. Thanks to inflation indexing, those thresholds are now $11,925 and $23,850, respectively.

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The IRS doesn’t come up with those inflation adjustments on its own. It relies directly on the consumer price index, which the BLS publishes monthly.

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Will that be true under Mr. Antoni? There are reasons for concern. He co-authored a 2024 paper with Peter St. Onge for the Brownstone Institute that critiques the way government measures the cost of living. Messrs. Antoni and St. Onge created an alternative measure of inflation and used it to claim that the U.S. economy has been in recession—shrinking in every