PLEDGE NOW
Here and Now with Robin Young and Jeremy Hobson
Public radio's live
midday news program
With sponsorship from
Mathworks - Accelerating the pace of engineering and science
Accelerating the pace
of engineering and science
Tuesday, November 20, 2012

A Fiscal Cliff Fix: What It Means For Your Wallet

(Wilfredo Lee/AP)

Tax increases, spending and benefit cuts, reducing tax deductions – those are all on the table as Washington looks for a deal to avoid the “fiscal cliff.”

So what would the different options mean for most Americans?

Wealthy investors are already taking steps to shield themselves from the possibility of higher taxes, but what are middle and lower income Americans facing?

“There’s a big question about what’s going to happen to the payroll tax, and that was a tax deduction that averaged a couple of thousand dollars,” Howard Gleckman of the non-partisan Tax Policy Center told  Here & Now’s Robin Young. “It’s going to be a significant tax increase for just about everybody who works… Changes in these deductions, these other things, are going to be dwarfed by what happens to the payroll tax.”

Do you have questions about how tax hikes would affect you or your investments? Click here to send us your questions ahead of our conversation with an investment counselor.

Guest:


Please follow our community rules when engaging in comment discussion on this site.
Spotlight

Robin Young and Jeremy Hobson are hitting the road. Our Tumblr brings you behind the scenes of our election coverage.

Robin and Jeremy

Robin Young and Jeremy Hobson host Here & Now, a live two-hour production of NPR and WBUR Boston.

February 9 9 Comments

Aviation Factory Struggles To Attract Young Workers

Business is booming at the GE Aviation plant in New Hampshire, but it's having trouble drawing young workers.

February 9 10 Comments

Opiate Addiction In New Hampshire

Robin Young visits a clinic called Recover Together that charges patients $65 a week for group therapy and a Suboxone prescription.

February 8 7 Comments

10 Things To Know About New Hampshire

With the focus on the primary race, we decided to do a little digging to find out what sets this state apart from the other 49.

February 8 75 Comments

N.H. Sen. Shaheen On Why She Supports Hillary Clinton

Sen. Jeanne Shaheen says "I never hear any men who are supporting Bernie get asked if they're supporting him because he's a man."