income brackets

Meanings

• Noun

  A system used by governments or organizations to classify population into different income levels based on their earnings.

  - "The government has released new income brackets for tax purposes."
  - "According to the latest survey, 50% of the population falls into the middle income bracket."

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Variants

List of all variants of income brackets that leads to same result
bracket , bracketed , bracketing , brackets , angle bracket , square bracket , angle brackets , square brackets

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Etymology

origin and the way in which meanings have changed throughout history.

The term 'income brackets' first appeared in the early 20th century when governments started using it to determine tax rates and social policies.

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Trivia

Any details, considerations, events or pieces of information regarding the word

1. The first income tax in the United States was introduced in 1861 during the Civil War.

2. The percentage of income tax paid by high earners has been a topic of debate for decades, with some arguing for a more progressive tax system and others for a flat tax.

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Related Concepts

informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to

1. Taxation: Income brackets are used by governments to determine tax rates, with higher income earners paying a larger percentage of their income in taxes.

2. Social stratification: Income brackets are a form of social stratification, with people in higher income brackets often having greater access to resources and opportunities.

3. Poverty line: The poverty line is often defined as the income level below which a person or family is considered to be living in poverty, and income brackets are used to determine who falls below this line.

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Culture

Any cultural, historical, or symbolic significance of the word. Explore how the word has been used in literature, art, music, or other forms of expression.

Income brackets have been a subject of debate and controversy, with some arguing that they create unnecessary divisions in society.

How to Memorize "income brackets"

1. visualize
   

   - To memorize income brackets, try visualizing a ladder with rungs representing different income levels.

2. associate
   

   - Associate income brackets with different colors or symbols to help remember which income level corresponds to which range.

3. mnemonics
   

   - Use a mnemonic like 'Rich people pay more, middle income earners pay less, and the poor pay nothing' to remember the general trend in income tax rates.

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