Tuesday, April 9, 2013

Payroll Tax Crushes Consumers

http://www.foxbusiness.com/on-air/willis-report/blog/2013/02/22/payroll-tax-crushes-consumers


I know we're supposed to be in a low-growth economy, but prices sure aren't.
First off, rising food prices are hard to miss at the grocery store.
According to the government, ground beef is up 13.5% year over year, chicken is up more than 12%, steak up 9% and coffee is up 7.5%.
That's two of my three food groups. The third group, peanut butter, is up more than 11%.
I joke, but it’s very serious.
Consumer budgets are stretched to the limits, wages are stagnant or down for those with jobs, and for those on fixed incomes, there isn't a lot of room for T-bones when the price is skyrocketing.
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