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Revision as of 22:43, 22 January 2025

Despite the tax rate reductions of the Jobs and Growth Tax Relief Reconciliation Act of 2003, the superior marginal tax bracket for many retirees can be a whopping forty-six.3%. Why? Because Social Security benefits are subject to income tax. Those affected are Social Security recipients who hold the good fortune (misfortune?) to get subject to both the 25% taxes bracket along with the 85% inclusion rate for Social Security benefits.

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