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WordNet-Online
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Definitions from the WebBracket CreepDefinitionBracket creep refers to the gradual movement of individuals into higher tax brackets due to inflation or wage growth, without an appropriate increase in tax brackets. This results in higher tax liabilities for individuals even if their real income has not significantly increased. ExamplesNoun: Many citizens are concerned about bracket creep and its impact on their take-home pay. Verb: The government needs to address the issue of bracket creep by adjusting the tax brackets to account for inflation. | ||||
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