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bracket creep

   Also found in: Medical, Legal, Financial, Encyclopedia, Wikipedia 0.01 sec.
bracket creep
n. Informal
A shift of personal income into a higher tax bracket when the taxable income increases over time.
ThesaurusLegend:  Synonyms Related Words Antonyms
Noun1.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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In response to criticism of his tax cuts, Reagan (16) stated, "The reality is that the effect of the tax cuts enacted in 1981 was mainly to hold tax rates even, to keep the hard-pressed American taxpayer from being bled even drier through further hikes and the bracket creep caused by inflation" (216).
US foreign policy and aid to the peace corps by Schaefer, Donald D.A. / Journal of Social Sciences
Regular tax brackets and personal exemptions are indexed for inflation each year to prevent bracket creep, an automatic upward shift in the marginal income tax bracket through inflation.
Answers to Your Alternative Minimum Tax Questions by Kevin McCormally, Editorial Director, Kiplinger.com / Kiplinger.com
At the time, middle class Americans through bracket creep faced the tax rates reserved for the super rich, a suffocating situation Reagan's fiscal policy corrected but is virtually a non-event in the Greenspan text, as is largely Reagan himself.
The Greenspan years by Smick, David M. / The International Economy
 
 
 
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