Despite the new tax rate reductions of the Jobs and Growth Tax Relief Reconciliation Act of 2003, leading marginal tax bracket for many retirees is often a whopping forty six.3%. Why? Because Social Security benefits are subject to income tax bill. Those affected are Social Security recipients who have enough good fortune (misfortune?) to get subject to both the 25% taxes bracket as well as the 85% inclusion rate for Social Security benefits. The federal income tax statutes echos the lang...