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Definition of 'Bracket Creep'
A situation where inflation pushes income into higher tax brackets. The result is an increase in income taxes but no increase in real purchasing power.
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Investopedia explains 'Bracket Creep'
This is a problem during periods of high inflation as income tax codes typically take a longer time to change.
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What causes inflation? How does it affect your investments and standard of living? This tutorial has the answers.
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From unemployment and inflation to government policy, learn what macroeconomics measures and how it affects everyone.
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Learn the underlying theories behind these concepts and what they can mean for your portfolio.
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