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Thread: Alice in MuniLand !

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    Banned Melonie's Avatar
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    Default Alice in MuniLand !

    bottom line would appear to be that in areas where gov't agencies decided to invest tax revenue surpluses in SIV's and CDO's have 'lost' part of the money they have already taxed their citizens for. Now they get to raise taxes to not only meet current gov't payment obligations (welfare checks, civil service employee checks) that can't be met by revenue surplus dollars that no longer exist, but also must raise taxes enough to replace those SIV and CDO losses to keep the state / local gov't budget balanced as mandated by law.

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    God/dess Deogol's Avatar
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    Default Re: Alice in MuniLand !

    There is gonna be a whole lotta tax raisin' goin' on in the US these coming years.

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    Banned Melonie's Avatar
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    Default Re: Alice in MuniLand !

    I'm waiting to see what happens after Joe Sixpack discovers that the CDO / SIV / investment bank crisis isn't some remote business channel thing that only involves millionaires, but something that will personally involve his taxes / retirement fund !

    However, there will be a silver lining of sorts to this Muni mess. As state and local governments must increase tax revenues, they will be forced to limit the amount of direct tax rate increases out of fear of political suicide. This in turn should lead to the offering of a s#!tload of new Municipal Bonds to raise additional short term revenue. And with more sellers than buyers these new Muni Bonds could be a very good opportunity for those that can afford the buy-ins to take advantage of some comparatively high tax free returns !!!

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