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You can project the changes out in advance on a rolling (say) five-year basis, so 0.3% a year for the next five years, and add the change for the next period next year and so on. We're not trying to get a sudden change here - we can't - but a gradual one.
by Colman (colman at eurotrib.com) on Thu Apr 26th, 2007 at 12:10:28 PM EST
[ Parent ]
... tax will persistently high-ball, but I expect in the US political economy for the tax to persistently low-ball, so a five year ratchet is a recipe for increasing the amount by which it falls short, and the size of the increment required to catch up will galvanize political opposition on a quintennial basis.


I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
by BruceMcF (agila61 at netscape dot net) on Thu Apr 26th, 2007 at 12:24:18 PM EST
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