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Inflation Percentages Gone Wild

Here's one to warm your heart: the USEPA has raised its maximum penalties to adjust for inflation. It is required by law to be done every four years. So, the last time the penalties were adjusted was at the turn of the century.

Now, penalties are going up a whopping 17.23%.

The USEPA claims that 17.23% is the rate of inflation for the last four years. All I know is that my income hasn't gone up almost twenty percent over the last four years, and I doubt yours has either.

I checked with the Department of Labor, and according to the consumer price index, inflation went up only 9.3% over this same, four-year period. If you look closely, you can find the DOL's inflation calculator, which notes that $1.00 in 2000 will buy what $1.08 would buy in 2004. By the Bureau of Labor Statistic's calculations, that's only 8%.

Not even close to 17.23%.

If you want to ask the USEPA how it made its calculations, call or email Cynthia Bergman 202-564-7862. You won't believe the government doublespeak.

Printer friendly page Permalink Email to a friend Posted by J. Craig Williams on Friday, February 27, 2004 at 09:09 Comments Closed (0) |
 
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