Here’s what Congress can do to lower inflation ...Middle East

Inflation is the highest it’s been in 40 years. There are many culprits — COVID-19, a 40 percent increase in the money supply, largely to finance COVID spending, the war in Ukraine, China supply-side disruptions and supply bottlenecks due to inappropriate shipping and trucking regulation. Congress can’t change these factors. But it can help us all weather inflation, be it short- or long-term. Here’s how. Fully index the federal income tax to inflation. Federal income tax brackets are already indexed, keeping workers out of higher brackets simply because their wages keep up with prices. But significant parts of the tax code aren’t. Take capital gains. When inflation pushes up the pri

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