On Mon, 2009-05-18 at 15:21 -0400, Max B. Sawicky wrote:
> [...] Cap gains are taxed at a lower rate, but we were talking about
> interest on Federal Gov bonds, taxed at the top
> marginal rate. [...]

I wouldn't be surprised if with good legal packaging, through a fund or
a derivative instrument of some sort (eg: pay you interest of gov bund +
0.0000001*performance of SPX), interest on Fed Gov Bund could be taxed
at the capital gain rate and not at the top marginal rate.

Laurent 



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