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.