Newsweek’s Daniel Gross explains the Consumer Price Index (here’s the official BLS site) in a very simple video. I could do without the goofy sound effects, but it’s a good, 2 minute explanation of how the government tracks inflation.
Per David Simon’s Berkeley talk, though, the video doesn’t go into why this matters. Perhaps they’ll cover that in the next installment of the Economics 101 series.
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The Estate Tax and the AMT… one protects the rich who have more than $2 million in assets (2% of estates), the other affects 23 million families (something like 15-20% of taxable households in the U.S.) Ah, Republican priorities…
If you don’t understand or haven’t been following the AMT tax debate in Congress, this gives a very brief overview with links out to other sources that report on the debate.
I can summarize Hilzoy’s entire post, however, but pointing out that the Republicans are trying to protect a loophole that allows 50,000 households with an average income of $18.7 million while the Democrats are trying to protect the taxes of 23 million upper income families from going up.
23 million vs. 50,000. And you wonder why the Republican party is f’d.
