Tax Rates Reflect Total Well Being: Difference between revisions

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Latest revision as of 23:42, 11 November 2026

Despite the actual tax rate reductions of your Jobs and Growth Tax Relief Reconciliation Act of 2003, the top marginal income tax bracket for many retirees is a whopping 46.3%. Why? Because Social Security benefits are subject to income taxation. Those affected are Social Security recipients who have enough good fortune (misfortune?) turn out to be subject to both the 25% taxes bracket as well as the 85% inclusion rate for Social Security benefits.

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