Retailers say payroll tax will cut consumer spending | VideoPublished:
American workers are opening their first paychecks of 2013 and are finding an undesirable surprise: Uncle Sam's take has gone up. Because a temporary cut in Social Security withholdings is gone, giving average Americans $1000 less income. Which in turn, will negatively affect retailers.
Why do I have a smaller paycheck this month?
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Americans feel austerity's bite as payroll taxes rise