Inflation rages due to runaway Federal spending by Joe Biden and his Democrat allies. John Williams of Shadow Government Statistics uses the numbers based on how CPI was calculated from 1980 and 2017 (real numbers), before the politicians took out a number of factors that results in the understatement of inflation.

For 2021, actual inflation rate was 15%. It does not just result in higher prices, but inflation also drives your taxes higher.

Here is a list of federal taxes not indexed for inflation:

1. Mortgage debt cap to which interest is deductible1.

2. Exemption for sale of a home

3. State and local tax deduction

4. Deductions for capital losses

5. Thresholds for the 3.8% surtax on net investment income

6. Threshold for paying taxes on Social Security payments, not adjusted since

1994!

7. No adjustment for inflation’s impact on investment income

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This article was published in Texas Conservative Review, and is reproduced with permission.