Annual Taxes - Humor In The Drudgery: Difference between revisions

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Revision as of 10:12, 15 September 2026


Despite the tax rate reductions among the Jobs and Growth Tax Relief Reconciliation Act of 2003, leading marginal income tax bracket for many retirees is a whopping forty six.3%. Why? Because Social Security benefits are subject to income tax. Those affected are Social Security recipients who hold the good fortune (misfortune?) pertaining to being subject to both the 25% tax bracket as well as the 85% inclusion rate for Social Security benefits.

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