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Topic:
Lower tax breaks for municipal bonds - Obama
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Date Posted:
1/1/00 12:00am
Subject:
Lower tax breaks for municipal bonds - Obama
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http://news.yahoo.com/obama-seeks-cut-municipal-bond-tax-breaks-165322368.html
WASHINGTON (Reuters) - President Barack Obama on Monday proposed limiting tax breaks given to high-income earners on the interest paid by municipal bonds, a change that could rock the $3.7 trillion market if approved.
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This should really help struggling cities like Detroit.
Obama 2012!
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paulg_68
Posts: 2,469
Registered: 2009-7-27 18:45:54
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Date Posted:
1/1/00 12:00am
Subject:
Lower tax breaks for municipal bonds - Obama
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More effort to consolidate power in Washington and limit the states.
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"Everyone has a chance to become rich." - Groucho48
"Most of the human wealth on earth exists between the ears of live human beings." - theredkay1
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Date Posted:
1/1/00 12:00am
Subject:
Lower tax breaks for municipal bonds - Obama
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Oh lawdy!
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Abaddon_Ambrosius
Title: Retired Theurgist TL
Posts: 1,674
Registered: 2001-12-21 09:51:39
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Date Posted:
1/1/00 12:00am
Subject:
Lower tax breaks for municipal bonds - Obama
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LOL
"Let's take the last safe haven for those retirees on fixed income after a lifetime of earning and saving.... aaaaaand f*ck them."
Nice.
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In the immortal words of Socrates - "I drank what?"
"God you guys suck at the internet - how can you fail to locate porn?!" - Eternal_Midnight
"Knowing means nothing." - Fat-badger
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Moe_Nox
Title: In Moe We Trust
Posts: 1,962
Registered: 2007-2-4 12:17:56
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Date Posted:
1/1/00 12:00am
Subject:
Lower tax breaks for municipal bonds - Obama
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Welcome back. 
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The Nanny State cometh
Currency should be bacon cheeseburgers and blow jobs... - Reese
Life at the Outpost: http://www.collegehumor.com/video:1771556
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Yukishiro1
Posts: 3,243
Registered: 2002-9-20 23:52:57
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Date Posted:
1/1/00 12:00am
Subject:
Lower tax breaks for municipal bonds - Obama
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Hello muffin_king.
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Abaddon_Ambrosius
Title: Retired Theurgist TL
Posts: 1,674
Registered: 2001-12-21 09:51:39
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Date Posted:
1/1/00 12:00am
Subject:
Lower tax breaks for municipal bonds - Obama
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Yukishiro1 posted:
Hello muffin_king.
That's awfully clean formatting for Muffin.
-----signature-----
In the immortal words of Socrates - "I drank what?"
"God you guys suck at the internet - how can you fail to locate porn?!" - Eternal_Midnight
"Knowing means nothing." - Fat-badger
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-Espiritu-
Posts: 269
Registered: 2004-11-29 18:27:00
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Date Posted:
1/1/00 12:00am
Subject:
Lower tax breaks for municipal bonds - Obama
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nobody will try and defend this change, because they'd have to acknowledge how bad this is for local municipalities.
They will however attack people that express outrage.
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Espiritu - SWTOR (retired)
Espiritu (MajorMUD, UO, DAoC, SB, FFXI, WoW, WAR, Travian, SC2, SWTOR)
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theredkay1
Posts: 611
Registered: 2008-5-16 10:37:09
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Date Posted:
1/1/00 12:00am
Subject:
Lower tax breaks for municipal bonds - Obama
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Obama posted:
I dont think we should be federally subsidizing local government debt. Leads to bigger deficits, more local govt debt, skews investment decisions by pulling savings away from private sector investments, screws up the market signal given to local governments when interest rates rise
RWN's posted:
OMG!!! OMG!!! OBAMA SAID SOMETHING!!
less federal debt, less local govt debt, better functioning debt markets and more funding going to private entities at a lower rate is horrible!
 You guys are maroons.
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theredkay1
Posts: 611
Registered: 2008-5-16 10:37:09
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Date Posted:
1/1/00 12:00am
Subject:
Lower tax breaks for municipal bonds - Obama
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Oh, this explains the unhappiness here.
CBO posted:
That study concludes that the amount that the federal government forgoes through tax-exempt bond financing is greater than the associated reduction in borrowing costs for state and local governments. Some analysts have estimated the magnitude of that differential and conclude that several billion dollars each year may simply accrue to bondholders in higher income-tax brackets without providing any cost savings to borrowers.
http://cboblog.cbo.gov/?p=398
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