Definition of bracket creep in English:

bracket creep

noun

  • Movement into a higher tax bracket as taxable income increases.

    • ‘The overruns would be mainly on personal income tax receipts, due to better collections, bracket creep and the introduction of capital gains tax, he said.’
    • ‘However, over the ensuing years, unmitigated bracket creep has led to the top tax rate kicking in at $60,000 (about 1.5 times average weekly earnings) - hardly the stuff of high flyers.’
    • ‘To fix real bracket creep permanently, tax brackets should be adjusted for real income gains, or tax rates should be cut slightly each year.’
    • ‘All they've got is the extra $9,000 they've been paying through in federal taxes as a result of bracket creep and tax hikes in the past.’
    • ‘As the operation of bracket creep tends to slowly increase the ratio of tax revenue to GDP, this approach will allow for modest increases in the share of national income allocated to health, education and other services.’
    • ‘Let us not forget the very first thing: fixing the current tax rates nets the Government a whole lot of extra tax through fiscal drag, or bracket creep as some people call it.’
    • ‘One way to ease public discontent would be to lighten the burden and remove the continuous automatic theft of income that is known as bracket creep.’
    • ‘There has been a modest amount of bracket creep.’
    • ‘Yes, $2,600 per household extra, but $500 million more from the impact of fiscal drag or bracket creep - $500 million!’
    • ‘He said calculating bracket creep would be fairly routine provided one had access to relevant data - complex professional judgments would only be required to consider the broader effects of bracket creep.’
    • ‘I tell the member that over 80 percent of the increase in taxation revenue since 1999 is simply due to the change in GDP, without any bracket creep.’
    • ‘I've written a couple of times previously about how I believe these tax cuts are grossly unfair and also miss a golden opportunity to put in place some meaningful long-term change by indexing the thresholds to reduce bracket creep.’
    • ‘He would eventually like to see a $5-billion investment in expanded child benefit credits for middle-income families who have been hit hardest by bracket creep.’
    • ‘We're seriously discussing the effects of bracket creep and who'll get the biggest tax break, while they are struggling to get a dollar a day for a bit of rice, some oil to cook it, and some salt to help it down.’
    • ‘It has been living off the fat of bracket creep and running down fiscal policy.’
    • ‘Recalling the stealthy connotation of the word creep in the phrase creeping socialism, opponents of this unfair tax increase effectively denounced it as bracket creep.’
    • ‘Once bracket creep and price rises are taken into account, the ACTU calculates that a single person on the Federal Minimum Wage was $14.42 per week worse off after the Government's tax changes.’
    • ‘It is not widely appreciated that, under current law, the federal tax share of GDP is scheduled to rise enormously, to almost 25 percent, due to real bracket creep, the alternative minimum tax, and other factors.’
    • ‘This would solve bracket creep, which she sees as a real problem, and ease the financial incentives against the welfare-to-work transition…’
    • ‘Real bracket creep, the alternative minimum tax, and other lesser factors will drive up the total federal tax burden by one-third relative to the long-run historical average.’