Obama's administration is hell bent on nationalizing everything, either directly or indirectly.

Of course, taxing any municipal bonds will have unintended repurcussions (everyone will avoid them, sell them off, driving up the cost of doing them, and basically destroying them).

The Democrats war on wealth will accomplish their objective - to impoverish our nation quite completely.

Eliminating the tax-exempt status of municipal bonds would be a big mistake. For these bonds to be competitive in the marketplace, the government entities issuing these bonds would have to raise interest payments considerably, which would put extreme financial pressure on already strapped governments. Sports arena aside, most of these bond issues provide the means for communities to build needed infrastructure, without which society as a whole suffers.