An investor in municipal bonds, it was long thought, also had to own a winter home in Palm Beach and play polo in his spare time. Only the very rich, the reasoning went, would invest their money at low rates in order to receive tax-free interest. However, as inflation has pushed more and more middle-class Americans into higher tax brackets, there has been a growing curiosity about these complex securities. Bond Salesman James Lebenthal has spent ten years trying to raise the public consciousness about municipal bonds, and has gone about the task...
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