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Metropolitan DC Local Politics
Reply to "DC Council votes to raise taxes on the “rich”"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We moved to VA. It wasn’t just the taxes. It was also no school and no good system of public colleges. [/quote] That is why there is DC-TAG, to offset 10k of tuition for public universities. DC also allows all municipal bonds to be tax-free (not just DC bonds) - this is a major inducement for the senior community to stay in the District in their retirement and pay little to no DC income taxes if they plan right. Virginia has the tag tax, which, combined with the other state and local taxes, makes the burden in Virginia higher than DC.[/quote] How does the municipal bond policy benefit seniors?[/quote] If you save over the course of your working career and invest in municipal bonds, the income from those bonds are tax free in the District. They are already tax free federally, so essentially, there is a way one can have enough unearned income through this device, if they plan accordingly and can swing it.[/quote]
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