Definition

Noun: A category or group into which taxpayers are placed according to the total amount of their annual income. It is used for statistical analysis and for determining tax rates or eligibility for certain programs.

Usage

The term "income bracket" is used to classify individuals, households, or families based on their level of earnings. It is a common concept in economics, taxation, and social policy discussions. - It functions as a countable noun. - It is often preceded by adjectives like high, low, middle, or top. - It is frequently used with prepositions like in, into, or within (e.g., in a higher income bracket).

Examples

Advanced Usage

• "to fall into an income bracket": To be classified within a specific income range.
  • Most of our customers fall into the middle income bracket.
• "to be placed in an income bracket": To be assigned to a category based on income (often by an institution).
  • For the survey, participants were placed in an income bracket based on their household earnings.

Variants and Related Words

• Tax bracket: A more specific term referring to the range of incomes taxed at a particular rate. While closely related, a "tax bracket" is specifically about tax rates, whereas an "income bracket" is a broader category for classification.
  • Moving into a higher tax bracket doesn't mean all your income is taxed at the higher rate.
• Income band: A synonym, though less common, referring to a range of income levels.
• Income group: A very similar term often used interchangeably with "income bracket."

Synonyms

• Income group
• Earnings category
• Income range
• Socioeconomic stratum (broader, includes factors beyond just income)

Related Phrases

• Within the same income bracket: Having a comparable level of income.
  • The study compared spending habits of households within the same income bracket.
• Cross income brackets: To span or affect multiple different income categories.
  • The issue of affordable housing crosses income brackets.

Noun

1. a category of taxpayers based on the amount of their income