The exemption of municipal bond interest income from federal personal income taxesA. generally benefits the wealthy most. B. does not help municipal governments lower financing costs because it is offset by shifting increasing municipal bond rates. C. does not help municipal governments lower financing costs because it is offset by shifting falling municipal bond rates. D. is an indirect tax on the underlying municipal bonds that generate the interest income.

A. generally benefits the wealthy most.
B. does not help municipal governments lower financing costs because it is offset by shifting increasing municipal bond rates.
C. does not help municipal governments lower financing costs because it is offset by shifting falling municipal bond rates.
D. is an indirect tax on the underlying municipal bonds that generate the interest income.

answer: A. generally benefits the wealthy most.