bracket creep


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  • noun

Words related to bracket creep

a movement into a higher tax bracket as taxable income increases

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References in periodicals archive ?
With bracket creep, taxes - which keeps on getting bigger and bigger - eat a bigger share of family income.
Behind much of this unheralded inflow of future tax revenues is a phenomenon known as "bracket creep." But this isn't your father's kind of bracket creep.
"Bracket creep" was a term used in the '80s which referred to the trend for the middle class to creep into higher income tax brackets as they slowly received cost-of-living pay increases.
This bracket creep was a feature, not a bug, because the aim was to reduce the incentive that encourages employers to provide tax-free medical benefits instead of higher wages.
the dataset is subject to bracket creep. Over time, the lower end of the
This phenomenon is referred to as "taxflation" or "bracket creep." But whatever it is called, the impact is the same: a smaller and smaller percentage of the estate will be available for the children and other heirs.
As with median income households, while the tax burden did fall during the post-WWII years, it began to rise again during the sixties, largely due to bracket creep. Inflation raises the dollar value of income and pushes individuals into higher tax brackets.
Then, because of inflationary bracket creep, many Americans found their income subject to high tax rates.
* Inflation, affecting nonsale income, state and local taxes and tax bracket creep, is expected to be 2.5% annually.
When the law was passed, the number of targeted taxpayers was very small--approximately 0.1% of all individuals; the number of taxpayers facing potential AMT liability is expanding exponentially due to "bracket creep" caused by inflation and the growth in incomes and by the classification of commonly used exemptions land deductions as "tax preferences." While approximately 3.5 million individual taxpayers were subject to the AMT in 2004, estimates indicate the AMT will affect 33 million taxpayers by 2010.
In regard to income tax, the authors recommend the elimination of bracket creep via the introduction of tax indexation.
tax changes of 1981, 1986, 1990, and 1993 and the bracket creep of the late 1970s and early 1980s.
It seems there has been, despite the Age's claims, no massive 'bracket creep' as regards the 47 cents in the dollar marginal rate.
Thus, we learn of Canada's sharply rising dependency on personal income taxes, sales taxes, and social security levies over the last forty years, while the share of corporate and excise taxes has diminished not least on account of bracket creep and rising real income among ordinary tax-payers.