A local economist is weighing in on the looming fiscal cliff debate in Washington, as Congress has yet to come to a bipartisan compromise on a set of tax cuts set to expire at midnight on December 31st.
Winthrop economics professor Robert Stonebraker says there will be changes to come if Congress doesn’t act.:
Chartered Investment Analyst Kendall Anderson, president of Anderson Griggs investments agrees, but says in some cases there may be a silver lining.:
Anderson says despite the media frenzy over the pending changes, there are some realities.:
The Alternative Minimum Tax was enacted in 1982.
Stonebraker explains how that Alternative Minimum Tax can leave taxpayers with double the work and a greater tax burden.
Hear the complete discussion between Stonebraker and Anderson here.