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Despite brand new tax rate reductions of 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 in taxes. Those affected are Social Security recipients who include the good fortune (misfortune?) turn out to be subject to both the 25% income tax bracket along with the 85% inclusion rate for Social Security benefits. However, They're legal . feel ...

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