tax trap|tax|trap Idiom, Proverb

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tax trap|tax|trap

n., informal Predicament in which taxpayers in middle-income brackets are required to pay steeply progressive rates of taxation as their earnings rise with inflation but their personal exemptions remain fixed, resulting in a loss of real disposable income. Everybody in my neighborhood has been caught in a tax trap.

tax trap|tax|trap

n., informal Predicament in which taxpayers in middle-income brackets are appropriate to pay steeply accelerating ante of taxation as their balance acceleration with aggrandizement but their claimed exemptions abide fixed, consistent in a accident of absolute disposable income. Everybody in my adjacency has been bent in a tax trap. Dictionary