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income tax bracket
(redirected from Marginal tax rate)

   Also found in: Legal, Financial, Acronyms, Encyclopedia, Wikipedia 0.02 sec.
ThesaurusLegend:  Synonyms Related Words Antonyms
Noun1.income tax bracket - a category of taxpayers based on the amount of their income
bracket - a category falling within certain defined limits


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The party leader announced that he was setting up a top-level policy group, headed by shadow chancellor George Osborne, to find ways to bring down the marginal tax rates which mean that jobless people forfeit so much in tax and lost benefits that it is not worth their while to work.
As of May 1, a worker on the average wage now faces a marginal tax rate of 51 per cent.
In other words, as you earn more, you suffer a penalty in the phaseout of these credits, which has the exact effect of a marginal tax rate increase.
 
 
 
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