The group has argued that that corporate taxes, payroll taxes and so-called "bracket creep"--where taxpayers are bumped into a higher tax bracket because of inflation--are all examples of hidden taxes.
The Hall-Sargent calculations show that almost all of this inflation tax was borne by those who held bonds with a maturity of five years or more. (That is because investors in short-term bonds could more quickly demand higher interest rates to compensate for inflation.) The trick is harder to repeat today.
After-tax income, net of inflation, has barely been growing over the past five years and is likely to decline this year.
The child element of child tax credit and the disability elements of tax credit will be uprated in line with inflation, but other tax credit increases will be restricted.
These include increasing working age benefits by 5.2% in April and the child element of Child Tax Credit by inflation.
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You can see that in this issue, where we tell of the struggle to preserve capital against the ravages of inflation, tax collectors and in-laws.
Key to mitigating the damage of the about-to-worsen inflation is making permanent the tax cuts of 2003--or at least extending them for a couple of years.
Most of them reject all talk of increasing the petrol tax, or even indexing it to inflation, says Erich Zimmermann of Taxpayers for Common Sense, a pressure group.
Hayworth: The basic staple of inflation is not tax relief, it is addiction to higher spending, and higher spending that eventually generates huge deficits.
We are now willing to buy safe bonds that pay above our expected rate of inflation (after tax) out to 7-10 year maturities rather than the 3-5 year target we have maintained for the past two years.
Critics of the tax say it is flawed because it is not indexed to inflation, meaning that an increasing number of people will have to pay it.
Baby-boomers getting their first foot on the housing ladder enjoyed both mortgage-tax relief and the debt-gobbling effects of inflation.
In America, too, real post-tax interest rates are not historically low, in part because mortgage-interest tax relief is worth less at lower rates of inflation.
The capital gains tax, of course, must be indexed for inflation.
Remember that inflation is the sneakiest of all tax hikes--it destroys capital gains.
Another consideration of the economy going forward is the impact of soon to be announced tax cuts on the inflation rate.
He would also ease taxpayers into higher tax brackets more quickly by using a smaller measure of inflation to adjust the brackets.
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Chancellor George Osborne described CPI as a "more appropriate" measure of inflation - for state benefits and tax credits as well as public sector pensions - which would save the government money by producing smaller increases each year.
The biggest bears of the financial markets are concerned about different things: inflation, deflation, government debt, tax hikes, insufficient government stimulus, government intervention or lack of regulation.
It's a tax that targeted millionaires in the 1960s, but because of inflation it can now reach middle-income Americans.
Thankfully, most of the federal income tax code has been indexed for inflation, thus preventing unlegislated tax increases.
For the typical American wage earner, the inflation tax will more than offset the benefits of slightly lower income taxes.
In his statement, the chancellor said he aimed to support the vulnerable - therefore carer and disability benefits, including the disability elements of tax credits, would be increased in line with inflation.
The cap, enacted as a step toward controlling property tax rates that are among the highest in the nation, generally restricts districts and local governments from increasing their tax levy by more than 2 percent or the rate of inflation, whichever is less.
It's true that the Fed's success in reducing inflation has been the equivalent of a major tax cut.
This at a time when state and local tax receipts are growing at two to three times the rate of inflation.
But then came Ronald Reagan, who killed the terrible inflation of the 1970s, sharply reduced income tax rates and pushed deregulation.
Income streams from real enterprises were nil anyway in the context of negligible economic growth and a tax code un-indexed for inflation.
The resulting inflation will bump up tax revenues, while reducing the value of spending, thus leaving enough money to service the debt.
The 10% above inflation tax rise for cider came into force at the end of last month after being announced by Chancellor Alistair Darling.
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