History For The Federal Tax: Difference between revisions

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Despite fresh tax rate reductions belonging to the Jobs and Growth Tax Relief Reconciliation Act of 2003, the top marginal tax bracket for many retirees is really a whopping fouthy-six.3%. Why? Because Social Security benefits are subject to income tax. Those affected are Social Security recipients who have the good fortune (misfortune?) to be subject to both the 25% tax bracket as well as the 85% inclusion rate for Social Security benefits.

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