Homework Answers
Answer-The correct option is c-Using the chained CPI, taxpayers will pay less tax on 2019 tax returns.
Explanation:-
In the process of “chained CPI”, figures are increased slowly (because of inflation) compare to the usual CPI (or CPI based on market wage rates). The word “chained” is used because there is period-to-period connection in terms of increasing figures.
Since figures grow slowly in case of chained CPI, its tax bracket also would have smaller increase, and it leads to payment of less amount of tax.
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