Higher payroll taxes could be affecting broader economy

| Print |  Email
Thursday, February 07, 2013

New York Times: The sharp increase in payroll taxes that went into effect in January could be causing the broader economy to suffer.

Chain-store sales have weakened over the course of the month. And two surveys released last week suggested that consumer confidence was eroding, especially among lower-income Americans.

While these data points are preliminary — more detailed statistics on retail sales and other trends will not be available until later this month — at street level, the pain from the expiration of a two-percentage-point break in Social Security taxes in 2011 and 2012 is plain to see.

“You got to stretch what you got,” said Mr. Phillips, 51, a front-desk clerk and maintenance man for a nonprofit housing group who earned $22,000 last year. “That little $20 or $30 affects you, especially if you’re just making enough money to stay above water.” So he has taken to juggling bills, skipping a payment on one this month and another next month.

Read more.

 

More Articles

Grain Food

September 2015
Wednesday, August 19, 2015
BY JACOB PALMER

A Power Lunch at Bob's Red Mill Whole Grain Store and Restaurant.


Read more...

Reader Input: Energy Overload

June 2015
Wednesday, July 15, 2015

We asked readers to weigh in on the fossil fuel-green energy equation.


Read more...

Loose Talk

July/August 2015
Friday, July 10, 2015
BY AMY MILSHTEIN

When gossip crosses the line.


Read more...

Department of Self-Promotion

Linda Baker
Tuesday, August 04, 2015

061715-awards1Oregon Business wins journalism awards.


Read more...

Is there life beyond Reed?

September 2015
Wednesday, August 19, 2015
BY GARY THILL | PHOTOS BY JASON E. KAPLAN

A storied institution climbs down from the ivory tower.


Read more...

Storyteller in Chief: Power Player

September 2015
Wednesday, August 19, 2015
BY LINDA WESTON

In 1996, after a 17-year career in the destination marketing industry, where I gained national standing as the CEO of the Convention & Visitors Association of Lane County, I was recruited by the founders of a new professional basketball league for women. The American Basketball League (ABL) hoped to leverage the success of the 1996 USA women’s national team at the Atlanta Olympics — much like USA Soccer is now leveraging the U.S. Women’s National Team’s victory in the World Cup. The ABL wanted a team in Portland, and they wanted me to be its general manager.


Read more...

The Cover Story

Linda Baker
Thursday, August 27, 2015
01-cover-0915-thumbBY LINDA BAKER

How do you put a baby on the cover of a business magazine without it looking too cutesy?


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS