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View Diary: Hell No! Chained CPI will reduce eligability for EITC #noChainedCPI (72 comments)

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  •  What drives me especially nuts about chained CPI (7+ / 0-)

    is that it is based on fashionable behavioral economic theory that bears no relation to people's lives.  It's an intellectual exercise gone bad.  

    Furthermore, it stinks from a logical point of view.  If you lower adjustments for inflation because people lower their standard of living in response to inflation, then you create a death spiral for quality of life in those who can least afford it.  People switch from wet to dry cat food to offset inflation so they get less of an inflation increase in their safety net benefits?  

    I see no - NO! - real benefit except to those who would get off by seeing their/favorite theory put into practice or want more for the 1% at the expense of everyone else.

    The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt. Bertrand Russell

    by accumbens on Mon Apr 08, 2013 at 08:34:06 AM PDT

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