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Latest revision as of 20:39, 10 June 2026

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

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