Maybe what's got Wal-Mart (WMT) and Consumer Staples (XLP) so down in the dumps relative to the...

Maybe what's got Wal-Mart (WMT) and Consumer Staples (XLP) so down in the dumps relative to the general market over the last month is the payroll tax hike allowed by the fiscal cliff deal. A FRBNY study finds workers spent 28-43% of 2011's payroll tax cut - that's money now going to D.C. instead of retailers. "We continue to be baffled that politicians on both sides agreed ... this was a good idea," writes Cardiff Garcia.

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Comments (8)
  • SoldHigh
    , contributor
    Comments (991) | Send Message
    Economic Multipliers work both ways. I suspect these funds were get spent by consumers and now they'll be lost in inefficient govt largess.


    The results of the election suggest that this is what the voters wanted :P
    7 Jan 2013, 04:33 PM Reply Like
  • llostergaard
    , contributor
    Comments (31) | Send Message
    The uneducated voters put obamahitler back in........
    7 Jan 2013, 04:39 PM Reply Like
  • youngman442002
    , contributor
    Comments (5123) | Send Message
    Its to pay for their Social Security...or supposed to....who do they think is going to pay for it...???? Thats right...someone else should...not the rich people....not only are we we are really stupid you can fix
    7 Jan 2013, 05:00 PM Reply Like
  • Terry330
    , contributor
    Comments (883) | Send Message
    Such a small tax increase, no change in spending, as worker wages grow.
    7 Jan 2013, 05:21 PM Reply Like
  • fish4uinmd
    , contributor
    Comments (325) | Send Message
    "as worker wages grow" ?? which planet are you living on?
    8 Jan 2013, 05:55 AM Reply Like
  • earlc
    , contributor
    Comments (5) | Send Message
    That's the problem with society today, they got a "TAX CUT", but it was a social security rate cut, not a cut in income tax.
    now they want to keep the cut, but social security is already in
    trouble and needs the funds.
    So the dems can thank Mr. Obama!
    8 Jan 2013, 03:33 AM Reply Like
  • Obama_sucks
    , contributor
    Comment (1) | Send Message
    There was a reason the founding fathers did NOT include a wage tax on the citizens. They intended to LIMIT the scope of the federal government to a military for purposes of defending the states.


    We need to repeal the 16th Amendment as restore the sovereign nature of the wage earner. Keep and spend what YOU earn. Stop allowing others (DC politicians) to confiscate your means of building wealth, your wages.


    Withdraw your consent to be governed by a foreign power (DC Politicians) and only allow yourself to be governed by your local elected officials. Not some royalty minded corporately owned federal official.
    8 Jan 2013, 06:59 AM Reply Like
  • fish4uinmd
    , contributor
    Comments (325) | Send Message
    Absolutely...why should any of my $$'s go to Pakistan?
    8 Jan 2013, 08:04 AM Reply Like
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