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darth_avocado 3 hours ago

Absolutely. You need both. The point I’m trying to make is that we only have CPI which drives most policy decisions. However when you need about $40k to just survive and 1/3 of the households make less than $50k before taxes, you also need something like this to make effective policy decisions. Social security payments are a great example. If you adjust them only based on CPI, and essentials get more expensive at a higher rate than non essentials, you create a system where over a period of time, social security payments would barely cover the essentials.