9. Income tax brackets were not indexed until 1985. When inflation pushed up peoples nominal incomes during

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9. Income tax brackets were not indexed until 1985. When inflation pushed up people’s nominal incomes during the 1970s, what do you think happened to real tax revenue? (Hint: This phenomenon was known as

“bracket creep.”)

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Principles Of Macroeconomics

ISBN: 9780324171891

3rd Edition

Authors: N. Gregory Mankiw

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9. Income tax brackets were not indexed until 1985. When inflation pushed up peoples nominal incomes during

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Principles Of Macroeconomics

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