Annual Taxes - Humor In The Drudgery: Difference between revisions
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Revision as of 04:16, 4 November 2026
Despite brand new tax rate reductions among the Jobs and Growth Tax Relief Reconciliation Act of 2003, the top marginal tax bracket for many retirees is often a whopping forty six.3%. Why? Because Social Security benefits are subject to income in taxes. Those affected are Social Security recipients who have the good fortune (misfortune?) to get subject to both the 25% tax bracket along with the 85% inclusion rate for Social Security benefits.
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