A tax bracket is a range of income that is taxed at a specific rate. In many countries, including the United States, the income tax system is progressive, meaning that as a person's income increases, they pay a higher percentage in taxes on the income that falls within each bracket. For example, if someone earns $50,000, part of their income may be taxed at a lower rate, while the portion above a certain threshold is taxed at a higher rate. Tax brackets are designed to ensure that individuals with higher incomes contribute a larger share of their earnings to the government. Each year, the Internal Revenue Service (IRS) adjusts these brackets for inflation, which can affect how much tax individuals owe. Understanding tax brackets can help taxpayers plan their finances and make informed decisions about income and deductions.