Obama is anti-senior citizen.
1. Obama claims there is zero inflation so senior citizens do not get a COLA increase in their social security check.
2. Obama has reduced the interest rate on CD’s to nearly zero.
3. Now Obama wants to take away the last source of income for senior citizens by taxing them on their municipal bond interest.
Is AARP going to their members?????
This would be a terrible move but would almost certainly apply to new issues and not existing bonds. Existing bonds could actually go up in value due to their scarcity value. Bond prospectuses open issuers to legal liability from a revocation and there are other issues such as states wanting to tax interest on treasury issues