from The American Heritage® Dictionary of the English Language, 5th Edition.
- noun A shift of personal income into a tax bracket with a higher tax rate as a result of inflation.
from Wiktionary, Creative Commons Attribution/Share-Alike License.
- noun taxation Increased
taxationthat arises when an inflation adjustment to a wageor salarypushes a taxpayerinto a higher tax bracket(or, in a progressive taxation regime, further into a bracket).
from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
- noun a movement into a higher tax bracket as taxable income increases
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