News: Can U.S. Economy Tolerate a Tax Increase in 2013?

The rhetorical skirmish over this question is the prelude for bargaining that's likely to culminate after Election Day as President Barack Obama tries to persuade Congress to raise income tax rates on people with incomes over $200,000 and Republican try to keep the current tax rates in place at least for 2013.

If the two sides don't come to terms, income tax rates for all earners go up on New Year's Day.