WASHINGTON — Despite signs of robust sales at the start of the holiday shopping season, White House economists warned Monday that the uncertainty of a potential hike in taxes next year for middle class taxpayers under the looming fiscal crisis could hurt consumer confidence at a critical time.
In a report that coincides with Congress’s return after the Thanksgiving holiday, the White House said that if lawmakers don’t halt the automatic increase in taxes for households earning less than $250,000, consumers might curtail their spending.
Comments
It will be very, very interesting what will happen to the economy once the federal & state governments start taxing the Internet purchases!!!!
Nothing said about the tax grab greed being planned by the governments - but, they have to be very stupid to think the big government grab against Internet purchases will not impact the economy.