An income bracket is a category of people whose
income
Income is the consumption and saving opportunity gained by an entity within a specified timeframe, which is generally expressed in monetary terms. Income is difficult to define conceptually and the definition may be different across fields. F ...
falls within defined upper and lower levels.
In governmental planning, entire populations are divided into income brackets. These brackets are used to categorize
demographic data
Demography () is the statistical study of human populations: their size, composition (e.g., ethnic group, age), and how they change through the interplay of fertility (births), mortality (deaths), and migration.
Demographic analysis examine ...
as well as determine levels of
taxation
A tax is a mandatory financial charge or levy imposed on an individual or legal person, legal entity by a governmental organization to support government spending and public expenditures collectively or to Pigouvian tax, regulate and reduce nega ...
and
welfare
Welfare may refer to:
Philosophy
*Well-being (happiness, prosperity, or flourishing) of a person or group
* Utility in utilitarianism
* Value in value theory
Economics
* Utility, a general term for individual well-being in economics and decision ...
benefits.
See also
*
Tax bracket
Tax brackets are the divisions at which tax rates change in a progressive tax system (or an explicitly regressive tax system, though that is rarer). Essentially, tax brackets are the cutoff values for taxable income—income past a certain poin ...
*
Salary packaging
References
Human resource management
Income distribution
Demographic economics
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