Retailers are preparing for a triple whammy as the restoration of the payroll tax, surging gas prices, and stagnant employment and wages take a bite out of consumers’ disposable income, leaving them with less cash to spend on clothing, groceries, and eating out.
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Payroll tax cuts may boost the economy more than you think
Time to say goodbye to the payroll tax cut? It’s looking that way.
Wal-Mart’s profits can indicate how the nation’s economy is doing. Recent reports forecast lower spending at the retail giant this year.
As a result, more than three years after the recession officially ended, American consumers might be preparing to downshift again, if only slightly, with low-income consumers hit the hardest. Sensing consumer trepidation, retailers are scrambling to adjust.