Despite the new tax rate reductions of your Jobs and Growth Tax Relief Reconciliation Act of 2003, the top marginal tax bracket for many retirees can be a whopping forty six.3%. Why? Because Social Security benefits are subject to income taxation. Those affected are Social Security recipients who have 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. Because within the increasing tax rate of h...