It’s a mere 42 days before the nation goes over the so-called fiscal cliff and one of the biggest stumbling blocks over an agreement on the budget remains: taxes.
President Barack Obama wants to let the Bush era tax cuts expire for everyone making more than $250,000, but Republicans argue that would hurt small business and affect job creation. Both sides have talked about raising revenue by closing loopholes.
Host Carmen Russell-Sluchansky spoke with Lawrence A. Zelenak, a law professor at Duke University Law School, to discuss the role taxes are playing in the fiscal cliff negotiations and what could happen to taxes.
Podcast: Play in new window | Download