The cost of municipal borrowing would almost double if those borrowings were taxable. That would mean an increase in taxes to maintain the same level of municipal (state, county, municipal, and their related entities).
Just for informational purposes, I used to 'trade' munis as part of my investment management duties for 5 different banks. I'm also sure their are many republicans, conservatives, and independents that own tax-exempt muni bonds (RANS, TANS, BANS,& GO). No big deal - move on.
Yes,
But Given Horsefaces Statements:
"reverse Robin Hood, taking from the middle class and giving to the wealthiest Americans.''
And
"We need to ask the wealthiest people in our country,'' Sen. Kerry said last September, ``to bear some of the burden.''
There Is Nothing Wrong With The Way She Invests Her Money,Either Legally Or Morally,But If J.F'n K. Wants To Stumble Around The Country Calling Himself "The Man Of The People",it Looks Slightly Hypocritical.