Profile picture
Agent Maria Hill 💥 @AgentHillResist
, 14 tweets, 4 min read Read on Twitter
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 bloomberg.com/news/articles/… 14/x
Missing some Tweet in this thread?
You can try to force a refresh.

Like this thread? Get email updates or save it to PDF!

Subscribe to Agent Maria Hill 💥
Profile picture

Get real-time email alerts when new unrolls are available from this author!

This content may be removed anytime!

Twitter may remove this content at anytime, convert it as a PDF, save and print for later use!

Try unrolling a thread yourself!

how to unroll video

1) Follow Thread Reader App on Twitter so you can easily mention us!

2) Go to a Twitter thread (series of Tweets by the same owner) and mention us with a keyword "unroll" @threadreaderapp unroll

You can practice here first or read more on our help page!

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member and get exclusive features!

Premium member ($3.00/month or $30.00/year)

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!