I like indexing, but . . .

Unindexed excise taxes, to me, show one of two things: ignorance about the need to index; or control of the law by the special-interest taxpayers, rather than the public.

But I learned a lesson from Senator Bentsen’s Finance Committee Health Counsel long ago: She had a plaque on her wall saying something like, “In politics, there are no permanent victories.” So I think Republican candidate Ben Carson overstated the ability of indexing to solve problems:

CARSON: “Negotiate a reasonable minimum wage, and index that so that we never have to have this conversation again in the history of America.”

Never in history?  I doubt it.  But we haven’t gotten around to fixing an unindexed dollar amount from 200+ years ago.  The Founders didn’t count on inflation with this number in the 7th Amendment:  In Suits at common law, where the value in controversy shall exceed twenty dollars, the right of trial by jury shall be preserved.”

Debate is at http://time.com/4037239/second-republican-debate-transcript-cnn/

 

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Author: patoglesby

From 1982 to 1990, I worked in tax policy for Committees of the United States Congress. In recent years, I was Adjunct Lecturer at UNC-Chapel Hill's Business School and then Adjunct Professor at its Law School.

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