bracket creep

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Bracket creep

The gradual movement into higher tax brackets when incomes increase as a result of inflation.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
The body weight, back-fat thickness, and feed intake of sows were measured, and the piglet weight and creep feed intake were recorded.
Due to the dynamic stability of a given load, the energy consumption of the equipment is large, while the strength of the coal is low, such that the creep characteristics were expected to be displayed in a short timeframe.
In recent years, some researchers have paid much attention to the method of putting the creep theories into practice.
This was followed by a steady and continuous increase of strain as a function of time with a subsequent attainment of steady state creep. On removal of stress, there is a sudden drop in strain which is followed by a smooth decrease due to the elastic recovery of the blends.
The treatment groups were: (a) Treatment: Kids present in this group were fed dam's milk + creep feed having roughage (alfalfa hay (Medicago sativa), chopped to a length of between 1 and 2cm) (CFR), (b) Treatment 2: Kids present in this group were fed dam's milk + creep feed without roughage (CF) and (c) Treatment 3: Kids in this group had access only to dam's milk (DM).
Ironically, the English band was itself sued over the resemblances between its song 'Creep' and another English band The Hollies' song 'The Air That I Breathe'.
While "Creep" jolts listeners with lighting-like electric guitar strokes, "Get Free" has a comparatively upbeat chorus.
After the triaxial compression tests are completed, the cracked samples are directly used in the subsequent creep tests.
The incompatibility of plastic flow between the two regions can manifest under creep stress, which should cause stress concentration at the dendrite/interdendrite boundary or in the interdendritic region where microcavities form and propagate.
After the sample was saturated under both 140 kPa confining pressure and 110 kPa back pressure for at least 24 hours, the triaxial creep tests were performed at an ambient temperatures of (20 [+ or -] 2)[degrees]C.
Also recent studies show that polymers reinforced with CNT particles demonstrate enhanced creep resistance characteristics [22-25].