Consumer Reaction to Payroll Tax
Pedro da Costa discussed how consumers had reacted to the payroll tax resuming its higher level after the 2012 “fiscal cliff”… read more
Pedro da Costa discussed how consumers had reacted to the payroll tax resuming its higher level after the 2012 “fiscal cliff” deal. The automatic payroll deduction that funds Social Security had been temporarily reduced as an economic stimulus measure. He talked about various aspects of the economy and the overall effect on spending and consumer behavior. He responded to telephone calls and electronic communications.
The program closed with a video clip of AFL-CIO President Richard Trumka being interviewed about the minimum wage on March 27, 2013, for “Newsmakers.”
"Fiscal cliff" referred to the simultaneous tax increases and sequestration budget cuts at the beginning of 2013 if Congress failed to reach a new budget agreement. close
*The transcript for this program was compiled from uncorrected Closed Captioning.
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