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 ?
The game also features a weekly ranking bonus whereby player can challenge their friends to see who's creeps get the best score.
org) in June published a position paper outlining limits of temperature, humidity and gaseous contamination in data centers and telecommunication rooms to avoid creep corrosion on printed circuit boards.
Time-dependent material behavior is generally characterized using creep tests carried out under uniaxial tension.
Just about the time you think your bow is tuned and shooting well, your string or buss cable begins to creep.
Inside, see wall-to-wall creeps in the foyer and grand dining room, with sinister portraits adorning the walls and a salty old pirate, an old pumpkin tree - and the guest of honor on hand to greet visitors.
Figure 2a including five short-term creeps of HDPE shows that the increasing stress accounts for (i) an increase in D(t,[sigma]) and (ii) an increase in the creep rate defined as the derivative d log D(t,[sigma])/d log(t).
Rift'' concerns the goofy creeps who populate the starship Free Enterprise, whose chief business is smuggling.
If you insist on using a string material that creeps, you can reduce problems by adding more strands.
On the other hand, during long-term tests, the material can suffer physical aging while the material creeps.
Campaigns that consider most citizens as creeps to be kept out of decisions, and which therefore allow a small fraction of citizens to determine the outcome, are just as far from doing the will of 55 percent of a community as from doing the will of a majority.
This downward trend implies that the honeycomb core creeps a relatively greater amount earlier in the post-cure for high hold temperatures when compared with lower hold temperatures.
From this Figure it is evident that at comparable ages a test piece where the mean fiber orientation is perpendicular to the applied force creeps significantly more than one where the mean fiber orientation is aligned with it, despite its being subjected to a lower stress.