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federal tax exemption of interest on state-local debt

Why is it argued that the federal income tax exemption of interest on state-local debt is an escape from progressivity for the rich? Please explain the arguements for and against this critisism.

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Hello,

I think the question is asking that since most tax-exempt bond holders are rich, using this method to encourage local and state government investing in capital ...

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federal income tax exemption of interest on state-local debt/bonds

$2.19