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.
Robin and Jeremy

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

April 29 17 Comments

What’s A Delegate? And Why Do We Even Have Them In The First Place?

Here & Now's Robin Young speaks with Richard Pacelle, professor of political science at the University of Tennessee, to find some answers.

April 29 3 Comments

Bison Set To Become America’s First National Mammal

A bipartisan effort to name the bison the first national mammal of the U.S. has passed in Congress.

April 28 34 Comments

Men Read Mean Tweets At Women And The Video Goes Viral

Two Chicago-area sports journalists gathered the tweets directed at them and asked men to read them to their faces. The result went viral.

April 28 7 Comments

HBO's CEO On Virtual Reality And ‘Sesame Street’

In the second part of our interview with Richard Plepler, he discusses why the premium cable network picked up "Sesame Street."