bracket
BRAK-it
/ˈbrækɪt/
A category or range of people or things grouped together, especially a range of income taxed at a particular rate.
Tax brackets are progressive; entering a higher bracket only means your marginal income above that threshold is taxed at the higher rate, not your entire income.
The story behind the word. Originally from the Old French 'braguette', meaning a 'codpiece' (an item of clothing). The architectural term for a supporting projection resembled the shape of a codpiece, which later evolved into typographical brackets [ ] and eventually to conceptual 'ranges' or 'brackets' of numbers.
Word relationships
- category: Category is a general grouping, while bracket specifically implies a range bounded by upper and lower limits.
- band: Band is commonly used in British English (e.g., 'tax band') to mean the exact same thing as bracket.
Commonly confused with
- rate: A tax rate is the percentage charged, while a tax bracket is the range of income to which that rate applies.
Word family
- brackets (noun): Plural form; also refers to typographical symbols [ ].
Collocations
- tax bracket
- income bracket
- higher bracket
- bracket creep
Example sentences
- "Moving into a higher tax bracket does not mean all your income is taxed at that rate." Financial Literacy Article
Memory hook
A bracket holds things together; a tax bracket holds a specific range of income. A bracket encloses your income range.
When not to use
Do not use to describe physical wall supports (shelving brackets) in a financial context, though the word is identical.
Fun facts
- The United States once had a top tax bracket of 94% during World War II for incomes over $200,000 (equivalent to millions today).
Related words
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