What does bracket creep mean?
Definitions for bracket creep
brack·et creep
This dictionary definitions page includes all the possible meanings, example usage and translations of the word bracket creep.
Princeton's WordNet
bracket creepnoun
a movement into a higher tax bracket as taxable income increases
Wiktionary
bracket creepnoun
Increased taxation that arises when an inflation adjustment to a wage or salary pushes a taxpayer into a higher tax bracket (or, in a progressive taxation regime, further into a bracket).
ChatGPT
bracket creep
Bracket creep is an economic term that refers to the process by which inflation pushes income into higher tax brackets. This results in an increase in income taxes but no increase in real purchasing power. In other words, as a person's income increases due to inflation rather than a real increase in wealth, they may end up paying a higher rate of tax on their income due to tax brackets not being adjusted for inflation.
Matched Categories
Numerology
Chaldean Numerology
The numerical value of bracket creep in Chaldean Numerology is: 6
Pythagorean Numerology
The numerical value of bracket creep in Pythagorean Numerology is: 8
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"bracket creep." Definitions.net. STANDS4 LLC, 2024. Web. 27 Apr. 2024. <https://www.definitions.net/definition/bracket+creep>.
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