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Steve Forbes Has Run for President Twice on a Program

question 63

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Steve Forbes has run for president twice on a program of a "flat tax." Under a flat tax, there would be only one tax bracket for the federal income tax and most tax deductions and tax exemptions would be eliminated. Suppose that Forbes wins the 2008 presidential election. What would be the likely impact on the market for municipal bonds?

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Definitions:

Sin

An act viewed as a transgression against divine law or moral principles, often rooted in religious belief.

Leprosy

A chronic infectious disease caused by Mycobacterium leprae, characterized by the development of disfiguring skin sores and nerve damage in the arms, legs, and skin areas around the body.

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A highly contagious viral infection that affects the respiratory system, commonly known as the flu.

Genetic Testing

Tests on blood and other tissue to identify genetic disorders and susceptibilities to inherited diseases, assisting in disease prevention, diagnosis, and treatment planning.

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