Tax Rates Reflect Well-Being: Difference between revisions
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Revision as of 04:40, 6 March 2025
si-abang.com
Despite fresh tax rate reductions from the Jobs and Growth Tax Relief Reconciliation Act of 2003, the top marginal income tax bracket for many retirees is a whopping forty six.3%. Why? Because Social Security benefits are subject to income financial. Those affected are Social Security recipients who have enough good fortune (misfortune?) to be subject to both the 25% taxes bracket as well as the 85% inclusion rate for Social Security benefits.
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