tax bracket

     

Tax brackets are the ivisions at which tax rates change in a progressive tax system (or an explicitly regressive tax system, although this is much rarer). Essentially, they are the cutoff values for taxable income — income past a certain point will be taxed at a higher rate.

Trivia about tax bracket

  • In 2009 Gordon Brown created a 50% one of these in Britain; still better than the '70s, when there was an 83% one

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