bracket creep

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Bracket creep

The gradual movement into higher tax brackets when incomes increase as a result of inflation.

Bracket Creep

A situation in which inflation pushes people into higher tax brackets, resulting in a higher tax liability, even though the purchasing power of their income has not increased. When inflation is high, the dollar amounts of people's incomes goes up, but because prices for products also go up this does not correlate to an increase in purchasing power. However, because tax brackets are listed by dollar amounts, it may mean that the government is entitled to a greater share of one's disposable income. To avoid bracket creep, a legislature may link a tax bracket to inflation or change tax brackets every few years.

bracket creep

The movement of a taxpayer into higher tax brackets as his or her taxable income increases over time. Bracket creep occurs because of the progressive nature of the federal income tax structure, that is, extra income is taxed at higher and higher rates. As a result of bracket creep, more and more individuals seek tax-advantaged investments. Bracket creep was reduced significantly by 1986 tax reform, which reduced the number of tax brackets. Several additional brackets were added in the early 1990s.
References in periodicals archive ?
Tensile creep tests were carried out on specimens consisting of rectangular bars of width 10 mm, thickness 3 mm, and length 160 mm.
Since polyoxymethylene is a semicrystalline polymer, the high temperature process is believed to be associated with a relaxation process involving molecules that span both the amorphous and crystalline phases (14) and is responsible for long-term creep at ambient temperatures measured in the work reported here.
While shrinkage generates tensile stress, creep will relieve it and may prevent cracking.
The role of creep to reduce induced tensile stress in restrained shrinkage has been recognised and included in methods to predict shrinkage cracking.
While Dyneema has some creep, it also has some stretch, and there is a difference.
14 were extracted from the short-term creeps (Table 2); the remaining inputs were identical with those used in the superposition procedure.
The aim of this work is to investigate the creep performance of woodflour-PP composites.
DMA creep experiments were also performed in the expanded direction of the HRH-10-1/8 core.
Most previous studies of the effects of physical aging on creep have been concerned with unreinforced materials using specimens cut from extruded or compression molded sheets.
Good thing there are some fingerprints and maybe they'll (police) catch these creeps," Ulises hopes.
Mushy, Gritty: A trigger pull with inconsistent, unpredictable creep and steps.
Creep testing is useful in evaluating materials used in jet engines, gas turbines and other high temperature applications under load to prevent failure.