Not really. What you seem to be describing is the effect of the text box
margins. If you have text boundaries displayed, you'll see a dotted line
defining the text area inside the text. If you reduce the inner margins to
zero, the dotted line will be coincident with the outline. A text box is an
AutoShape and, as such, is really no different from a rectangle on which you
have used "Add Text."
In any event, there is an outline that will have to be removed if you want
text to float, unencumbered, over a graphic.
--
Suzanne S. Barnhill
Microsoft MVP (Word)
Words into Type
Fairhope, Alabama USA
http://word.mvps.org