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Revision as of 07:26, 31 January 2025

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

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