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Show JUST SUPPOSING Tax exempt bonds are. issued by cities, counties, states and nation. The holder of these bonds pays no taxes on the income derived therefrom. there-from. Bill Jones, whose income results from his labor and investments in industries pays everj' known form of taxation and he pays considerably more than is just, in order to make up for amounts lost to the government govern-ment through "tax-exempt" incomes Supposing everybody tried to get tax-exempt bonds, where would the money come from to run the govern-, ment. The continued issuance of tax-exempt tax-exempt bonds drains mone away from productive enterprise and increases in-creases the tax burden on all those who do not hold the bonds. a. |