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Revision as of 03:19, 2 October 2024

Despite the actual tax rate reductions of the Jobs and Growth Tax Relief Reconciliation Act of 2003, the superior marginal tax bracket for many retirees is often a whopping 46.3%. Why? Because Social Security benefits are subject to income taxation. Those affected are Social Security recipients who check out good fortune (misfortune?) end up being subject to both the 25% taxes bracket as well as the 85% inclusion rate for Social Security benefits.

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