Tax Rates Reflect Way Of Life: Difference between revisions
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Latest revision as of 14:23, 8 October 2026
Despite brand new tax rate reductions of the Jobs and Growth Tax Relief Reconciliation Act of 2003, leading marginal income tax bracket for many retirees is a whopping fouthy-six.3%. Why? Because Social Security benefits are subject to income tax bill. Those affected are Social Security recipients who purchase the good fortune (misfortune?) to get subject to both the 25% taxes bracket as well as the 85% inclusion rate for anjing Social Security benefits.
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