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Revision as of 22:03, 5 January 2025
Despite the actual tax rate reductions belonging to the Jobs and Growth Tax Relief Reconciliation Act of 2003, leading marginal tax bracket for many retirees is really a whopping forty six.3%. Why? Because Social Security benefits are subject to income income tax. Those affected are Social Security recipients who include the good fortune (misfortune?) turn out to be subject to both the 25% taxes bracket and the 85% inclusion rate for Social Security benefits.
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