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Latest revision as of 22:52, 4 February 2025
Despite the actual tax rate reductions of your Jobs and Growth Tax Relief Reconciliation Act of 2003, the superior marginal income tax bracket for many retirees can be a whopping 46.3%. Why? Because Social Security benefits are subject to income financial. Those affected are Social Security recipients who have enough good fortune (misfortune?) to be subject to both the 25% income tax bracket and also the 85% inclusion rate for Social Security benefits.
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