Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
I'm tax swapping a MI muni bond fun right now. It got whacked earlier in the year with the daytwah bankruptcy and I'm taking the loss and buying it back. I'm researching alternatives AND counting days.
Good article and the nut as it were. Whom to skewer? For my money, I'd make it 15% on everything and everyone, eliminate ALL the deductions and give every person a $40K pers exemption. Be done with it.
I've survived four or five muni blow-ups in the last 30 years. Fortunately these were PREDICTED blow ups that got a lot of attention, then slipped quietly away. Meredith Whitney, that soothsayer of great foresight, threw the muni market into a tizzy a few years ago with her over-the-cliff prediction. Unless the Dems gain control of the House, the idea of munis losing their tax-advantaged status is nil. There have always been an occasional problem with a specific issuer (usually a city, now the entire state of Illinois), and Puerto Rico is grim, but the overall muni market looks more attractive than it did 6 months ago. As with any investment, buyer beware.
Agree with BobC - but have to love the use of hyperbole here. Guess you could say that if the muni market's a stick or so of dynamite, than the stock market's probably a whole keg of the stuff. And some high flyers like Apple and Google might amount to a truck load. You also need a fuse to blow it, and I'd say that's fairly long right now. Would take months or maybe years to burn all the way down and reach the nitro. When dealing with explosives one needs to keep everything in proper perspective. Nonetheless, flack jackets are handy when dealing with financial investments as well as dynamite. Regards
Comments
I'm tax swapping a MI muni bond fun right now. It got whacked earlier in the year with the daytwah bankruptcy and I'm taking the loss and buying it back. I'm researching alternatives AND counting days.
Good article and the nut as it were. Whom to skewer? For my money, I'd make it 15% on everything and everyone, eliminate ALL the deductions and give every person a $40K pers exemption. Be done with it.
cretins,
peace,
rono