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Wages up 5% ... minus 2% to pay the tax on that 5%

Wages and income may be up 5%, but don't forget that that 5% will be taxed.

Payroll taxes+Federal income taxes+state income taxes+county & city income taxes+more sales taxes because everything is more expensive+real estate taxes because the effect of the government's low mortgage rate was to inflate property values. All together will easily eat up almost half of that 5%.

So: 5%-2% = 3%
And: 9%-3% = 6%

So even if you get a 5% wage/income increase every year and inflation sustains at 9%, we will fall behind by 6% every year.
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GenerousLee · 51-55, M
how much a litre or gallon is fuel in the USA?