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Latest revision as of 00:55, 16 October 2026
Despite brand new tax rate reductions of the Jobs and Growth Tax Relief Reconciliation Act of 2003, the superior marginal tax bracket for many retirees is often a whopping forty six.3%. Why? Because Social Security benefits are subject to income in taxes. Those affected are Social Security recipients who have enough good fortune (misfortune?) to be subject to both the 25% income tax bracket and the 85% inclusion rate for Social Security benefits.
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