What The IRS Inflation Adjustment Really Means
https://www.taxpolicycenter.org/taxvox/what-irs-inflation-adjustment-really-means
The IRS just changed its tax brackets. Here's the
impact on your taxes.
https://www.cbsnews.com/news/tax-bracket-irs-inflation-adjustment-tax-brackets-for-2023/
Inflation Is a Wealth Transfer from Creditors to
Debtors
https://www.stlouisfed.org/publications/regional-economist/2022/aug/impact-inflation-wealth-transfer-effect
Massive reductions in the purchasing power of demand, time and savings deposits can hurt account holders, but others likely benefit. For example, unexpected higher inflation transfers purchasing power from the holder of a time deposit to the commercial bank at which the deposit is held. (Unexpected lower inflation, of course, does the opposite.) However, while higher inflation does erode the real value of nominal assets, such as demand deposits, it also lowers the real value of nominal liabilities, such as mortgages. So, borrowers directly benefit from unexpected inflation because they can pay back their loans in depreciated money. In the same way, lenders lose out.
https://www.taxpolicycenter.org/taxvox/what-irs-inflation-adjustment-really-means
https://www.cbsnews.com/news/tax-bracket-irs-inflation-adjustment-tax-brackets-for-2023/
https://www.stlouisfed.org/publications/regional-economist/2022/aug/impact-inflation-wealth-transfer-effect
Massive reductions in the purchasing power of demand, time and savings deposits can hurt account holders, but others likely benefit. For example, unexpected higher inflation transfers purchasing power from the holder of a time deposit to the commercial bank at which the deposit is held. (Unexpected lower inflation, of course, does the opposite.) However, while higher inflation does erode the real value of nominal assets, such as demand deposits, it also lowers the real value of nominal liabilities, such as mortgages. So, borrowers directly benefit from unexpected inflation because they can pay back their loans in depreciated money. In the same way, lenders lose out.
The Social Security COLA Will Ease the Sting of Inflation
https://www.nytimes.com/2022/10/13/your-money/social-security-cola-inflation.html
The cost-of-living adjustment will be 8.7 percent next year, bringing relief to retirees and others who rely largely on the payments.
https://www.nytimes.com/2022/10/13/your-money/social-security-cola-inflation.html
The cost-of-living adjustment will be 8.7 percent next year, bringing relief to retirees and others who rely largely on the payments.