Consumer Spending Plummets After Payroll Tax Increase

[Modemouth]

Consumer Spending Plummets After Payroll Tax Increase

When President Barack Obama and Congress agreed to increase the federal payroll tax by two percent to temporarily avert the so-called fiscal cliff in January, Americans were left with less money to spend. Now, some of the country's largest companies are seeing sales plummet as a result.

[Nan]

I think we are on a downward spiral that can't be fixed. I think we are too far gone.

[beanie]

I fear the same thing Nan. I know my check sucks now. I have to work longer to make what I did just a few months back

[Modemouth]

And the price of gas......