| 词汇 | fiscal-drag |
| 释义 | fiscal drag noun finance & economics specializeduk /ˌfɪs.kəl ˈdræɡ/ us /ˌfɪs.kəl ˈdræɡ/ [ U ] a process in which the levels of income at which people pay any tax or pay more tax stay the same while incomes increase, especially because of inflation, which means that more people pay tax, or pay tax at a higher rate: The effect of fiscal drag has been to pull many more people into the top tax bracket. Fiscal drag is shorthand for not raising income tax brackets in line with inflation. The phenomenon known as fiscal drag can be damaging to middle-income earners. Tax rises, fiscal drag - the process by which revenues grow faster than the economy - and spending restraint characterized the austerity years. Fiscal drag is a key driver of the tax burden. Fiscal drag means that more low earners have been dragged into paying basic-rate income tax and more middle earners into paying the higher rate. Taxation amortizable anti-dumping anti-progressive anti-tax at sourcephrase filer financial year fiscal year flat tax gas tax regressive regressively road tax sales tax self-assessment taxpayer the taxman tithe top rate unprogressive fiscal drag | Business Englishfiscal drag noun[ U ] ukus ECONOMICS, TAX the situation in which people pay a larger part of their income in tax, because the government does not increase the levels at which people pay tax at the same rate as that at which inflation is increasing: The Budget shows the tax burden increasing as a result of fiscal drag. Examples of fiscal dragfiscal drag As a result, beneficiaries were exposed to 'fiscaldrag'. When giving business news, the phrase fiscaldrag (whatever that may mean) becomes a truly obfuscating 'fiscal drug'. The most significant single reason for an increase in income following a reduction in the top rates of income tax is fiscaldrag. From the Hansard archive Example from the Hansard archive. Contains Parliamentary information licensed under the Open Parliament Licence v3.0 Fiscaldrag can be defined in various ways, and its relationship with the rate of inflation will vary with the definition chosen. From the Hansard archive Example from the Hansard archive. Contains Parliamentary information licensed under the Open Parliament Licence v3.0 Nevertheless, the effect of fiscaldrag at what might be called the lower end of the higher income level is plain to see. From the Hansard archive Example from the Hansard archive. Contains Parliamentary information licensed under the Open Parliament Licence v3.0 A good deal has been said about fiscaldrag. From the Hansard archive Example from the Hansard archive. Contains Parliamentary information licensed under the Open Parliament Licence v3.0 He did not raise them sufficiently to take into account fiscaldrag and did not raise them enough to help the lower paid. From the Hansard archive Example from the Hansard archive. Contains Parliamentary information licensed under the Open Parliament Licence v3.0 We talk about fiscaldrag for income tax—but there is a reverse fiscaldrag for the specific duties. From the Hansard archive Example from the Hansard archive. Contains Parliamentary information licensed under the Open Parliament Licence v3.0 In an inflationary period income goes up and there is an inflationary fiscaldrag which makes heavier the real burden on the same income. From the Hansard archive Example from the Hansard archive. Contains Parliamentary information licensed under the Open Parliament Licence v3.0 But the current system has spawned an even more effective form of taxation hidden in the morass—economists call it "fiscaldrag". From the Hansard archive Example from the Hansard archive. Contains Parliamentary information licensed under the Open Parliament Licence v3.0 These examples are from corpora and from sources on the web. Any opinions in the examples do not represent the opinion of the Cambridge Dictionary editors or of Cambridge University Press or its licensors. |
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