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.

July 29 2 Comments

Garden-Inspired Cooking With Kathy Gunst

We visit our resident chef's garden in Maine, make gazpacho and get a recipe for a plum tart with hazelnut crust.

July 29 479 Comments

Two Sides Of The GMO Debate

We moderate a debate over a bill that would bar states from forcing food manufacturers to label genetically modified foods.

July 28 159 Comments

Religious Groups Upset Over Boy Scouts’ Decision To Lift Ban On Gay Leaders

The chairman of Trail Life USA, a group that formed after the Boy Scouts opened its membership to gay youth, explains his position.

July 28 6 Comments

Shamir: From Country To Pop

The 20-year-old talks about his new album, his androgynous voice and how his disco-pop sound has evolved.