Dem Tax Policy

It has finally dawned on me that the “fiscal cliff” and Dem pols’ severe desire to increase dividend taxes is to drive capital into the arms of state and local governments, so that they may continue to issue copious tax-exempt debt at low prices and continue the party of overcompensating staff and administrators, steering votes back to Dem pols.  Just observe tax-exempt bond prices in the last few months and weeks.  I’m holding some at 104+ market price to par, but not for much longer cause that’s crazy pricing.  Hugely corrupt, but brilliant!

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