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Taxation

Obama Committed to 28% Cap; Baucus Working on Plan B for Fiscal Cliff

DEC 4, 2012 5:48pm ET

A top White House official reiterated on Tuesday that President Obama is committed to the 28% cap on the value of tax exemptions for high income earners, which includes municipal bond interest.

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Comments (2)
This will end the concept of tax exempt interest and convert municipal bonds into tax advantaged investments.
Posted by ifinkel | Wednesday, December 05 2012 at 3:39PM ET
This will raise property taxes, school taxes and tolls 30%. Expect the price of Municipal bonds to drop 20% the day after this passes.

Continuing the "Payroll tax cut permanently" is about the stupidist idea yet. We have a massive unfunded liability in Social security and they want to permanently destrory the only funding source.

Well I hear Panama is nice this time of year.
Posted by Warren H | Thursday, December 06 2012 at 2:36PM ET
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A recent phenomenon is the emergence of bonds with shorter call protection as funding alternatives for municipalities. However, the shorter call protection also dampens the potential upside for investors, which in turn reduces the price they are willing to pay.

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