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INTERTEMPORAL CHANGES IN REAL FEDERAL INCOME TAX RATES, 1954-70

Price level variations cause changes in the real rate structure of any tax system which, as is customary, defines its rate brackets in nominal dollars. This paper traces out the effects of inflation on the real tax rates imposed on U.S. personal income between 1954 and 1970. Despite the substantial 1964-65 reduction in nominal rates, real tax rates have actually risen for many taxpaying units, especially those with low incomes or large families. The analysis suggests, therefore, that inflation has a surprisingly strong and almost certainly unintended effect on the distribution of personal income tax burdens in the U.S.