One of the mysteries of the English language finally explained.
Movement into a higher tax bracket as taxable income increases.
- ‘To fix real bracket creep permanently, tax brackets should be adjusted for real income gains, or tax rates should be cut slightly each year.’
- ‘If "bracket creep" has made things bad at the higher end, its impact on the basic rate of tax has been devastating.’
- ‘He has all but ruled out Labor tackling the bracket creep problem by indexing the tax thresholds.’
- ‘The average New Zealand worker has had the second-biggest increase in income tax in the OECD, largely because of the bracket creep issue.’
- ‘I looked at bracket creep which is effectively the force of higher wages pushing people into higher tax payment areas, into higher brackets of tax payment.’
- ‘Bracket creep has seen 12% of New Zealanders now paying tax in the top bracket.’
- ‘The measure was introduced to reduce the frequency of bracket creep.’
- ‘These figures ignored the amount collected through bracket creep in the first years of the Howard Government.’
- ‘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.’
- ‘How much bracket creep is the Government gathering this year?’
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