If a person starts collecting Social Security benefits before full retirement age but also continues to work,
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Question:
If a person starts collecting Social Security benefits before full retirement age but also continues to work, then for each $2 in income earned (above a modest level), that person’s benefits are reduced by $1.What is the effective marginal tax rate imposed by the Social Security system on such earnings from work? Explain.
Related Book For
Concepts in Federal Taxation
ISBN: 9780324379556
19th Edition
Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher
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