This puzzles me. By definition, income in a taxable account is taxable. Consequently, how can you throw off tax free income in a taxable account?
The only way I can think is that if one's income is low enough, some of this taxable income may not be taxed, as total reportable income is below the taxation threshold. Which is pretty low income, I would think too low to afford the kinds of lifestyles, homes, and travel and recreation that many here write about.
Ha
Ha....I was mainly thinking tax free muni bonds".
As an alternate, MLP's while not really tax free since they reduce your basis...they sort of are if you hold until your death in which case your beneficiaries get the step up.