Sentences with phrase «bracket creep»

This is in an environment of 2 % inflation, wages and salary increases of at least 1.5 % and wage bracket creep (moving up within the wage scale).

Personal income tax will hit a 20 - year high of 12.5 per cent of GDP by 2020 - 21 under the budget forecasts as the government relies on bracket creep and an increase in the Medicare levy to return the budget to surplus.

But Reagan came out of the tax revolt of the 1970s and 1980s, which was largely driven by concerns over rising property taxes at the state and municipal level, and inflation - created bracket creep at the federal level.

Those worried about bracket creep, i.e. the inevitable push to expand the tournament from four to eight to 16 to 32 teams, should see danger in the decision to allow the selection committee to fill out the top 12 teams.

2 This example assumes a 25 % marginal tax rate and does not take account of any potential negative bracket creep (i.e., seeing one's marginal tax rate reduced due to the impact of the reduction of taxable income).

Given the economic tenor of many news stories, an analogy to inflation may be useful in clarifying the idea of slow but steady radiative bracket creep, as the CO2 forcing can be outlined in terms of its effect on the radiative balance, which reduces to watts / M2 and their rate of change.

This methodological change is estimated to reduce deficits by $ 230 billion over ten years through a combination of reduced (projected) government spending (Social Security) and income tax bracket creep.

This in an environment of expected wage and salary increases of 1.5 per cent per year, wage bracket creep and inflation averaging 2 per cent per year.

This is done to prevent what is called «bracket creep.»

They have no familial memory of the Carter inflation, the property tax revolts, the failure of wage and price controls in the 1970s, the post-1964 increase in crime, or how «bracket creep» increased people's tax rates even as their purchasing power was declining.

Because of our progressive tax system, Uncle Sam usually collects more taxes as inflation rises, owing to «bracket creep.»

We've noted some serious «bracket creep» in RMCs» referral - fee requirements in recent years, with some now taking more than 40 percent of a commission side as a referral fee.