Their interest income is except from federal income taxation. The interest income also is exempt from state and local taxation in the issuing state.

市政债券的利息收入不用交纳联邦利息税，利息收入在所发行的州也不用交纳州和地方所得税。

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QUESTION FROM ERIK DONNELLA: Would you explain a little bit about why a federal sales tax is a bad idea, and what the social value is of a graduated income tax and progressive taxation scheme?

埃里克.多内拉的问题：您能否解释一下为什么联邦营业税是个坏主意，以及累进所得税和累进税率方案的社会价值何在？

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Generally, at the federal level, all gross income earned by a citizen, resident, domiciled alien, or domestic corporation is subject to U. S. taxation, no matter where the income is earned.

一般说来，在联邦一级，凡公民、居民、在美国设定住所的外国人或美国公司等挣得的总收入，不问其在何地挣得，均须向联邦纳税。

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The thresholds beyond which first 50 percent and then 85 percent of your Social Security benefits are subject to federal income taxation are explicitly NOT indexed for inflation.

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While the contributions are not deductible from federal income taxes, in many states they are from state income taxation.

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This double taxation equals federal taxes of 45 cents on every dollar of taxable income paid as dividends (and total taxes of more than 53 cents in high tax states like New York).

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