History For The Federal Income Tax: Difference between revisions
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Revision as of 08:23, 10 September 2026
Despite the tax rate reductions of the Jobs and cibai Growth Tax Relief Reconciliation Act of 2003, the top marginal tax bracket for many retirees is often a whopping forty-six.3%. Why? Because Social Security benefits are subject to income income tax. Those affected are Social Security recipients who hold the good fortune (misfortune?) end up being subject to both the 25% income tax bracket and also the 85% inclusion rate for Social Security benefits.
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