The Problem with All Those Municipal Bonds on Your Ballot
On today’s edition of Coffee and Markets, Brad Jackson and Ben Domenech are joined by Cate Long to discuss the overuse of municipal bonds by cities and the problems that is causing, the Obama administration’s plan to begin taxing investment in these bonds and looming state bankruptcies.
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Does Our Government Now Hate American Cities?
Internal Revenue Service data from 2009 shows that 58% of all of the tax-exempt interest reported to the IRS was from individuals with incomes of $200,000 or higher. (Bondbuyer.com) In recent weeks, The Federal Reserve and the so-called Obama Administration have teamed up to restrict the ability of American Municipalities to finance long-term, necessary infrastructure projects. Of course, this was neither the stated, nor the | Read More »