Triple-Tax-Free

Spin the screen, enter that weird movie DISSOLVE thing, and we're placing you in an apartment on 5th and 72nd in Manhattan. Yeah, nice address. The Park is right there. You can almost hear the muggers mugging right outside your window.

For the privilege of living there, you pay a Manhattan City Tax. You also pay State Tax. And you pay Federal Taxes. So if you're a drug dealer doing only business in cash, then it's likely you're living a triple-tax-free life.

Yes, illegal. But even legally, there are times where you've invested in a triple-tax-free muni bond. So if you're paying 39.6% Federal and 12% State and 3% city tax, i.e. meaningfully over 50% tax, and a muni bond comes along paying 4% interest, then that's the equivalent of 8% pre-tax...so you do it.

Triple-tax-free. Triply happy for investors.