Income Bracket (Noun)
Meaning
A category of taxpayers based on the amount of their income.
Classification
Nouns denoting groupings of people or objects.
Examples
- Her annual salary placed her in a higher income bracket, resulting in a larger tax bill at the end of the year.
- They struggled to make ends meet on a single income, barely holding on to their lower-middle-class income bracket.
- Income inequality has been on the rise as those in the highest income bracket accumulate more and more wealth.
- In the new tax plan, those in the lower income bracket are eligible for significant deductions and exemptions.
- To qualify for the low-cost housing program, his income had to fall within a certain income bracket.