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Revision as of 01:44, 23 January 2025
Despite the actual tax rate reductions from the Jobs and Growth Tax Relief Reconciliation Act of 2003, leading marginal tax bracket for many retirees can be a whopping forty-six.3%. Why? Because Social Security benefits are subject to income income tax. Those affected are Social Security recipients who have the good fortune (misfortune?) always be subject to both the 25% income tax bracket along with the 85% inclusion rate for Social Security benefits.
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