Future of Economic Growth After the Fiscal Cliff
Friday, November 30, 2012
The question gets more urgent by the day: Can President Obama and Congress cut a deal in the next month to prevent the automatic government spending cuts and tax hikes known as the fiscal cliff?
There's another question, too: If they reach an agreement on tax hikes on the wealthy, or cutting tax breaks like the mortgage interest deduction, what then?
This week on WNYC's Money Talking, contributors Joe Nocera of The New York Times and Rana Foroohar of Time magazine discuss the potential impact of a deal to avoid the fiscal cliff on future economic growth.
Plus, Warren Buffett is making the rounds with his proposals to address the debt. Nocera and Foroohar weigh in on one of his ideas: a minimum tax of 30 percent for people making more than $1 million a year.