U.S. economy

Harvard Grads Have Fiscal Cliff Advice


A student walks down steps of the Harry Elkins Widener Memorial Library at Harvard University in Cambridge, Massachusetts

Photograph by Brent Lewin/Bloomberg

A student walks down steps of the Harry Elkins Widener Memorial Library at Harvard University in Cambridge, Massachusetts

Add Harvard B-School alumni to the crowd of business leaders who think Washington needs both to collect more in taxes and to cut spending. That’s the takeaway from an annual survey conducted by the U.S. Competitive Project at the business school. Of the 6,836 alums polled, 90 percent said the solution to the fiscal cliff must raise revenue, as Democrats demand, as well as trim spending, as Republicans insist.

The alums are divided over how the well-off should be taxed. A narrow majority, 56 percent, said personal income taxes should be lowered, while 49 percent “agreed” or “agreed strongly” with the Buffett Rule, which would hike taxes on millionaires.

There was wider consensus on closing loopholes, the hot topic in Washington right now. But which loopholes should be limited or cut? The survey didn’t ask Harvard’s finest to specify. Those details are still up to Washington to fight over.

Dwoskin is a staff writer for Bloomberg Businessweek in Washington. Follow her on Twitter: @lizzadwoskin.

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