Quote:
Originally Posted by Sunny Day
A lot of the rich have their money invested in municipal bonds.
Live in NY City, buy bonds issued by the City of NY, pay no city, state or federal tax. Doesn't matter how many millions in interest you earn.
Buy a bond issued by any other NY Govt agency, you would have the city tax.
Buy a bond issued by a govt agency outside of NY State, you'd only be exempt from federal tax
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please son, we've been down this road with every other village idiot.
earned income in NY in the highest bracket is taxed at over 50%
no one is talking investment income.