Bracket Creep Would Less Likely Occur in Which of the Following

question 37

Multiple Choice

Bracket creep would less likely occur in which of the following?

• A)a progressive income tax system
• B)a regressive income tax system
• C)a flat income tax system
• D)none of the above

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Definitions:

Force Majeure Clause

A contract term anticipating some catastrophic event usually exempting liability when such an event interferes with performance of the contract.

Catastrophic Event

An unexpected, large-scale disaster that causes significant -physical, economical or environmental damage or loss of life.

Condition Subsequent

A contract condition that, when it occurs, ends the party's obligation to perform under the contract.

Unilateral Release

A legal agreement where one party agrees to waive its rights or claims against another party without requiring any action or concession in return.