bracket creep
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bracket creep
n.
A shift of personal income into a tax bracket with a higher tax rate as a result of inflation.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
brack′et creep`
n.
the movement of a wage earner into a higher federal income-tax bracket as a result of wage increases intended to help offset inflation.
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Noun | 1. | bracket creep - a movement into a higher tax bracket as taxable income increases income tax - a personal tax levied on annual income |
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