Senator Bernie Sanders says it best- "The so-called “chained CPI” is Washington shorthand for one of the most-talked-about cuts favored by Republicans and some Democrats. Unfortunately, few outside the Beltway understand its consequences. It is a devious and underhanded way to wage class warfare against working families.
A chained CPI would do more than cut Social Security. It also would cut the benefits of more than 3.2 million disabled veterans in this country.
Adding insult to injury, the chained CPI also would amount to an across-the-board tax increase on working families. Those making between $30,000 and $40,000 would be hit the hardest, while those making more than $1 million would see virtually no change."