FYI: T’S A COMMON PLOY among columnists: You start with the provocative statement—and then spend the rest of the article dancing like crazy, trying to defend it. Today’s provocative statement: Except in a few rare instances, I’m not sure why anybody would ever own municipal bonds.
At first blush, this sounds not just provocative, but downright stupid. If you’re in a high income-tax bracket and investing money through a regular taxable account, it would be foolish to buy taxable bonds and then pay income taxes on the interest you earn. You would be better off sidestepping that tax bill and instead purchasing lower-yielding but tax-free municipal bonds.
Regards,
Ted
http://www.humbledollar.com/2017/08/who-needs-munis/
