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<<anyway, looked a some quick numbers from the 1997 tax schedules.......... single taxable income of $124,650 will results in a 27% tax rate, $24,650 is the maximum for 15%. for married filing jointly, a income of $151,750 results in a 26% tax rate and $41,200 for 15%. so in both of these cases you would have to drop your income by over $100,000, or over 70% to fall into the 15% tax bracket. you would need a severe lifestyle change to be able to handle this loss of income. not the kind of retirement i would look forward to. a better plan would be to try and remain near the same tax rate. those marginal tax brackets are deceiving.>>

I don't know what tables you're looking at. The IRS gives the following taxable incomes as the ranges for 1997 marginal rates:

Single Filers:

15% $0 to $24,650
28% $24,650 to $59,750
31% $59,750 to $124,650

Joint Filers:

15% $0 to $41,200
28% $41,200 to $99,600
31% $99,600 to $151,750

I'm not sure where your "27%" and "26%" rates came from, but they're not the marginal rates in efective for 1997 returns.

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