The Biggest Trojan Horse In the Republican Tax Plan

Several years ago, as President Barack Obama negotiated with Republicans over the budget, readers of liberal websites were subjected to ponderous explanations of “chained CPI,” a proposed alternative to the Consumer Price Index that would calculate inflation as growing more slowly. Pitched as a more accurate measurement of inflation, the chained CPI was really an attempt to reduce the deficit on the backs of senior citizens: The net effect would have been a heavy benefit cut for Social Security, which only made sense if you thought the elderly were getting too sweet a deal with their $1,360 a month in average benefits.