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The "fiscal cliff" will knock 1% off GDP growth in 2013, says JPMorgan, up from a previous...

The "fiscal cliff" will knock 1% off GDP growth in 2013, says JPMorgan, up from a previous estimate of just a 0.5% hit. The team believes the 2% payroll tax reduction Americans have enjoyed the past 2 years is a goner, and will reduce household disposable income by $125B in 2013.
Comments (5)
  • User 353732
    , contributor
    Comments (4913) | Send Message
     
    The less after tax purchasing power the middle class has, the more stagnant and enervated the productive economy; the bigger the share of value destroying Govt and the higher the unemployment and underemployment rates....

     

    For the past 3 years at least the Regime has been totally contemptuous of the privately employed middle class. The Regime believes that with unrestrained bad money and bad debt it can stay in power indefinitely....who needs the middle class.
    18 Oct 2012, 02:45 PM Reply Like
  • Terry330
    , contributor
    Comments (867) | Send Message
     
    Taxes are needed to support senors and 10,000K per day retiring. Mitt Romney pays lower rates than teachers, bus drivers.
    18 Oct 2012, 03:18 PM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    This is an econ 101 moment...Democrats think taxes will help the economy....by giving them to the "deserving"....Republi... do not...
    18 Oct 2012, 02:54 PM Reply Like
  • Terry330
    , contributor
    Comments (867) | Send Message
     
    Yes, the W. Bush tax cuts have failed the American family.
    18 Oct 2012, 03:16 PM Reply Like
  • anonymous#12
    , contributor
    Comments (552) | Send Message
     
    Keep dreaming doomers....

     

    NO recession.
    18 Oct 2012, 05:05 PM Reply Like
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