"Stocks soar on news of rapidly shrinking paychecks" is a headline you won't see today, but Nick...

|By:, SA News Editor

"Stocks soar on news of rapidly shrinking paychecks" is a headline you won't see today, but Nick Colas points out 79% of households make under $100K/year and are subject to the full brunt of the higher payroll tax which kicked in on Jan. 1 - removing 4% of their annual spending power. He sees it as a 50 bp drag on GDP growth in 2013.