History Of The Federal Taxes: Difference between revisions
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Revision as of 18:23, 11 September 2026
Despite the new tax rate reductions of your Jobs and Growth Tax Relief Reconciliation Act of 2003, the top marginal tax bracket for many retirees is often a whopping 46.3%. Why? Because Social Security benefits are subject to income in taxes. Those affected are Social Security recipients who check out good fortune (misfortune?) turn out to be subject to both the 25% tax bracket as well as the 85% inclusion rate for Social Security benefits.
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