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Hi everyone,
I apologize if this is a FAQ.

As I understand things, here in DC I'm paying 9%-ish local tax on any interest I earn.

I've been rate-chasing at a few of the online banks with my e-fund lately and currently my new money is going to ING with their 4.75 teaser/promotion rate.

With the fairly high local tax rate here, would I be better off buying some sort of tax advantaged bond? Would anyone be so kind as to give me a quick overview about those guys? Does buying "munis" or "t-bills" or whatever-else-kind-of-bond even make sense if I'm only talking amounts around $500 a month?

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