Lawmakers are getting ready for the final dramatic act to avoid a fall off the fiscal cliff Tuesday. Creighton University Economist Dr. Ernie Goss isn't impressed with the drama
Lawmakers are getting ready for the final dramatic act to avoid a fall off the fiscal cliff Tuesday. Creighton University Economist Dr. Ernie Goss isn't impressed with the drama.
Dr. Ernie Goss, Creighton University Economist; "political theater."
Goss says he isn't holding out for much success even though President Obama is meeting with Senate and House leaders today and this could be the final hope of coming up with a deal. He says if one isn't reached our first paycheck in 2013 will reflect the tax changes.
Goss; "for everybody."
That includes withholding but that depends on the employer. Goss says no matter what you will eventually have to pay that too.
Creighton University Economist Dr. Ernie Goss is carefully monitoring today's meeting with President Obama and top House and Senate leaders as this may be the last chance to avoid a fall off the fiscal cliff. Goss says if that happens taxes will go up for everybody and more people will fall under the Alternative Minimum Tax guidelines.
Goss; "74-thousand dollars."
Goss says if an agreement isn't reached the payroll tax will go up and that means less money in our first paycheck in 2013.
House and Senate leaders will meet with President Obama today in what may very well be the last chance to come up with a deal to avoid a fall from the fiscal cliff. Creighton University Economist Dr. Ernie Goss says if he was included in the meetings he would offer this advice to lawmakers.
Goss; "in our economy."
Goss says if a deal isn't reached the payroll tax break goes away and we will all see less money in our first paycheck in 2013 as well as more people will fall under the "AMT" guidelines.
(image courtesy of stock.xchng)
(courtesy of Nebraska Radio Network)
