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bracket creep |
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Bracket Creep A situation where inflation pushes income into higher tax brackets. The result is an increase in income taxes but no increase in real purchasing power. Notes: This is a problem during periods of high inflation as income tax codes typically take a longer time to change. See also: Inflation, Purchasing Power Bracket creep The gradual movement into higher tax brackets when incomes increase as a result of inflation.
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? Mentioned in | ? References in periodicals archive | |
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The use of multiple beneficiaries in such a fact pattern works against bunching of income and bracket creep. Graetz's book delivers a practical and politically realistic exposition, covering issues from the marriage penalty and tax shelters to bracket creep and capital gains. |
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