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Agent Maria Hill 💥 @AgentHillResist
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THREAD on C-CPI: We have no idea what's in the tax bill, since Republicans are writing a new one that no one has seen and want to vote on that just like they did with health care a few months ago. Not a great pattern, not a great look. 1/
Last night, Sen. Menendez talked about chained CPI, which might be in it. (Of course, anything might be in it.) Here's what you should know about C-CPI. 2/
CPI (Consumer Price Index) is how we measure inflation. It's the cost of goods. Officially the cost for urban consumers, more precisely. Chained CPI measures inflation more slowly. 3/
It assumes that if one thing is more expensive, you'll substitute another. If steak is too expensive, you'll buy chicken instead. Take the bus instead of paying for parking. 4/
Republicans are proposing switching to C-CPI to calculate tax brackets each year. That's a tax increase. The next marginal bracket cutoff will be just a tiny bit earlier next year. Over a decade or two, it will be a lot earlier. 5/
Ok, that affects people at the margins. Who thinks about tax brackets? But let's look at what happens when you apply C-CPI to Social Security. 6/
The average Social Security check for people who signed up last year was about $1400. The average Social Security Disability check is a bit less, under $1200. Some people have other sources of income, but many rely only on Social Security. 7/
Since 2000, CPI has gone up 45.7%. C-CPI has gone up 39.7%. That means that over time, you'd get much less in benefits than your annual statement says you're due upon retirement. 8/
Grandma -- or the disabled 40-year-old -- might be able to shop around a little but ultimately can't choose for her can't choose for her medication to just cost less. Instead, she'll skip doses of her prescriptions to afford them. 9/
Or to afford her medications, she isn't buying chicken instead of steak. She's skipping breakfast and dinner. She's going to be weaker, and more likely to fall and break her hip. 10/
Then she (or Grandpa) ends up in nursing care -- which is all smiles here, but recall has just been stripped of some consumer protections by the Trump admininistration -- affecting her quality of life, or may even die sooner. 11/
This is the extreme situation and sounds alarmist, but it's the logical end game when you want to take a few hundred dollars from someone who gets $1400 so wealthy donors can have their tax break. 12/
Just some more info for you to mention in your calls to your senators as we try to stop this #GOPTaxScam. 13/
More reading and links at… 14/x
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