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LSDefine

Simple English definitions for legal terms

bracket creep

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A quick definition of bracket creep:

Bracket creep: When prices go up or people earn more money, they might end up paying more taxes. This is called bracket creep. It happens because the government sets different tax rates for different income levels. If someone's income goes up, they might move into a higher tax bracket and have to pay more taxes.

A more thorough explanation:

Definition: Bracket creep is a term used to describe the process by which inflation or increased income pushes individuals into higher tax brackets.

Example: Let's say you earn $50,000 per year and your tax rate is 20%. That means you pay $10,000 in taxes. However, if your income increases to $60,000 per year and your tax rate is still 20%, you now pay $12,000 in taxes. This is because you have been pushed into a higher tax bracket due to your increased income.

Explanation: Bracket creep occurs when inflation or increased income causes individuals to move into higher tax brackets. This means they pay a higher percentage of their income in taxes, even if their income hasn't increased significantly. In the example above, the individual's income only increased by $10,000, but they ended up paying $2,000 more in taxes due to bracket creep.

bracery | bracket system

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LOL they love our tears
I mean, you got to be a bit of a sadist to be in adcoms lol
JumpySubsequentDolphin
11:09
does WUSTL send emails or call?
JumpySubsequentDolphin
11:09
or both?
11:10
I got a call first
JumpySubsequentDolphin
11:10
I interviewed like two weeks ago, not sure how quick they get back to peeps post interview
JumpySubsequentDolphin
11:10
but my interview was a disaster so not holding onto hope
Late to the party but my name is Paul Leachman in Delray Beach, FL (WashU pls respond)
11:11
Why is it taking so long for WashU to get back to me. Ppl are getting acceptances in a month or less
letsseehowitgoesnow
11:11
...
triplethread
11:11
@BookLover125: RETWEET
triplethread
11:12
is it bad i lied about getting into case western bc my parents are bugging me about my first a
@BookLover125: they are so impressed with your application they are renaming the library after you before admitting you
Do you know not everyone says they were ED?
11:12
No they shouldn’t be bugging you this is stressful enough without them adding More. Do what u gotta do
11:13
Got jokes I see
triplethread
11:13
its sooo stressful and im not even done applying
Just apply and get the A lol
triplethread
11:13
got like 3 more apps
there should be a law school draft akin to the NFL Draft where law schools can recruit us
or a MaxPreps esque high light video where Deans can rank us
1a2b3c4d26z
11:15
In this analogy is the LSAT the NFL combine
JumpySubsequentDolphin
11:16
I told my family I won’t get any decisions until 2025 so they wouldn’t bombard me hahah
no i think there should be a Law School combine with all new drills except there is still the 40 yard dash
and a sub 4.5 gets you into any t14
LSAT can be one of the drills
letsseehowitgoesnow
11:17
so washu only called one person
So all the D1 athletes will get into a T-14. What else is new?
@TheAdoptedOne: that is called "Dean Poker Night" lol
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