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Inflation cuts income gains to bare bones
Government figures show after tax income rose by 31 dollars per person in Q3 but inflation erased most gains leaving only seven dollars available. Officials warn prices may rise further through Christmas and into next year without tax measures. A proposed 10 percent surcharge could cut inflation to about 2.5 percent next year though some analysts doubt passage this session.
MENTIONED IN THIS ARTICLE
Senate House Economic Committee
Johnson Administration