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With a high-stakes election just around the corner, the high-stakes rhetoric is flying. But with Taxmageddon looming, America needs less political rhetoric and some serious legislative action.

United statesMohammad al erianAlan blinderHarry reidd nevAlison acosta fraserNouriel roubiniHeritage foundation roe centerFederal reserveUs chamberNational federation of independent businessesNew yearAlternative minimum taxPresident obamaFederal reserve chairman bernankeYet president obamaSenators harry reid