Why is Wal-Mart worried? Payroll tax could cut consumer spending. (+video)
Recent reports forecast lower spending for this year, anticipating that the restored payroll tax will impact consumers’ wallets, especially low-income earners. Wal-Mart is adjusting its strategy.
By Husna Haq, Correspondent / February 22, 2013
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“It’s a big deal,” says Morgan Housley, a macroeconomic analyst with Motley Fool, an online financial education website. “The biggest impact is on lower-income households since the payroll tax is regressive, only applying to the first $113,000 of income. Wealthier households don’t feel the same pinch because the tax doesn’t hit all of their income. Lower-income households also spend a larger share of their income than wealthier consumers.… Low-income families are in one of the toughest spots they’ve been in since 2009.”
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Anyone believe a less that 2% cpi?
Not me!
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Why is Wal-Mart worried? Payroll tax could cut consumer spending. (+video)Recent reports forecast lower spending for this year, anticipating that the restored payroll tax will impact consumers’ wallets, especially low-income earners. Wal-Mart is adjusting its strategy.
By Husna Haq, Correspondent / February 22, 2013
Reinke Faces Life 