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12 percent 8.8 percent after-tax income Alan Murray average budget broadest measure budget in 1974 budget rose burden is increasing CONSUMER IN 1974 Consumer Price Index cost of living current recession earnings declined elderly couple food costs food prices rose four-person family fuel tax higher budgets higher income levels impact of inflation increase in 1973 increases in tax inflation on different inflationary periods intermediate and higher Joint Economic Committee liberal food plan living costs low-cost plan low-income consumers marketbasket measure of earnings measures of real moderate move into higher October payroll tax percent in 1974 percentage points personal income taxes post-war recession PPI rose purchasing power rate of inflation real disposable income real income Real weekly earnings result rise faster rose 27.7 percent security taxes rose sharpest increases social security taxes standard deduction standard of living sumer tax brackets tax burden tax cut taxpayers transfer payments transportation