Global Business Outlook Survey - Fourth Quarter, 2012
1,042 views · Published 12 December 2012 · 3:22 · Indexed 16 October 2026
Channel: Duke University - The Fuqua School of Business · 2012 · Education
Uncertainty about the fiscal cliff has paralyzed the corporate sector in the United States. The Duke University/CFO Magazine Global Business Outlook survey of nearly 900 CFOs say going over the cliff will lead to dramatic slowdowns in hiring and business spending in 2013 and will continue to hurt firms for years to come. Surprisingly, CFOs don't see the solution as solely cutting government spending. Instead, results show that 63 percent of companies prefer a plan like Bowles-Simpson, which pairs $2 of spending cuts with each dollar of tax increases. "It is shocking that CFOs overwhelmingly support Bowles-Simpson, which includes tax rate hikes to raise revenues," John Graham, a professor of finance at Duke's Fuqua School of Business and director of the survey. "CFOs generally prefer less taxation across the board, so their willingness to accept tax increases is dramatic."
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