4. Consider the following table. It shows a hypothetical income tax schedule, expressed in nominal terms, for the year 2014.Family income $80,000 25

The legislature wants to ensure that families with a given real income are not pushed up into higher tax brackets by inflation. The CPI (times 100) is 175 in 2014 and 185 in 2016. How should the income tax schedule above be adjusted for the year 2016 to meet the legislature’s goal? (LO2)