Last year you earned $20,000 and paid taxes in the second tax bracket at 15 percent. This year youearned $25,000, the extra $5,000 just compensating you for inflation. However, this year you paidtaxes in the third bracket at 20 percent. This illustrates the concept of

Question

21-06-2022
Business

contestada

Last year you earned $20,000 and paid taxes in the second tax bracket at 15 percent. This year youearned $25,000, the extra $5,000 just compensating you for inflation. However, this year you paidtaxes in the third bracket at 20 percent. This illustrates the concept of

Respuesta :

Otras preguntas

what are the pros and cons of desalination

Which technological breakthrough did Orville and Wilbur Wright achieve in 1903? A. They designed a hot-air balloon that crossed the English Channel and landed i

which describes the Treaty of Versailles? A. It provided aid to the defeated Central Power to avoid future wars. B. it blamed Germany for World War and sowed th

A scientist wants to learn more about differences in motion of objects both on the planet earth and on the planet mars. What branches of science should he study

“Simile” by N. Scott Momaday What did we say to each other that now we are as the deer who walk in single file with heads high with ears forward with eyes watch

After the Vice President, who is next in line to become the President of the United States? A) The Speaker of the House B) The Senate majority leader C) The pre

I've been looking in the study guide but can't find how to solve it

What is the square root of 8374

An isotope undergoes radioactive decay by emitting radiation that has no mass. What other characteristic does the radiation have? a. some shielding required b.

PLEASE HELP!!!! ASAP!!! A DJ charges a booking fee of $100 and an hourly rate. He made $250 in 5 hours. Which equation shows the amount the DJ charges per hour?

suchetasVT suchetasVT · Answer 1 · 2022-06-28T12:49:19+02:00

The given illustration gives us the concept of "Bracket creep". Bracket creep can be defined as the method by which inflation pushes wages and salaries into better tax brackets, main to fiscal drag.

What is a "Bracket Creep" income tax system?

Bracket creep is a time period that describes a scenario in which an income boom causes people to pay better common income tax rates every year. It is one end result of a tax system that functions some of the tax 'brackets'.

Therefore, The given illustration gives us the concept of "Bracket creep".

Learn more about the income tax system:

https://brainly.com/question/26316390

#SPJ1