Definitions for "Bracket creep"
The effect of the sliding scale in use for personal income tax rates in conjunction with inflation this allows governments to lift the proportion of gross incomes absorbed in tax in successive financial years without incurring the political odium which would follow over the increases in the actual tax rates.
A situation that occurs when progressive tax rates combine with inflation to cause a greater portion of each taxpayer's real income to be paid as taxes.
Slowly moving into higher tax brackets as one's income rises to keep up with inflation.
Keywords:  brady, branch, bonds
Brady bonds Branch