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Revision as of 15:22, 28 July 2026


Despite brand new tax rate reductions from the Jobs and Growth Tax Relief Reconciliation Act of 2003, the superior marginal 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% income tax bracket and also the 85% inclusion rate for Social Security benefits.

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Because with the increasing tax rate better brackets, a reduction of taxable income within the higher bracket saves you more tax than aren't reduction to a lower segment. So let's compare the tax saving of contributing $1000 by a single person with a $30,000 income with a single person with a $100,000.

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