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View Diary: How are the rich getting richer? The more they make, the lower income tax rates they pay. Face palm. (141 comments)

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  •  I know you (1+ / 0-)
    Recommended by:
    Ian Reifowitz

    have to list income from munis on your tax form, but I've never seen it taken into account with someone actually figuring the 1 percenters' true tax rate they pay on ALL of their income.
    And while you may consider the lower interest rate an "implicit tax," and I understand why you would. If I had $20 mill or so, I'd put half or more in t-bills or high rated munis JUST for the safety of it - since it would still generate all the income I could ever possibly need. I think the ability to protect your principal from risk is far and away the primary reason the super rich buy tax advantaged instruments.

    •  Munis can have significant risk (1+ / 0-)
      Recommended by:
      Ian Reifowitz

      See Detroit, Stockton, Vallejo, etc.  We are now about to see the biggest failure of muni bonds with Puerto Ricco.

      The risk of principle and interest with muni bonds is much greater than for Treasuries.

      The most important way to protect the environment is not to have more than one child.

      by nextstep on Sat Nov 02, 2013 at 10:56:56 AM PDT

      [ Parent ]

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