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Tax Hike Doesn’t Slow Consumer Spending

Shoppers shrug off payroll tax increase.

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By: TOM BRANNA

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Intrepid consumers shrugged off a return to the 6.2% Social Security tax, according to the US Commerce Department. Consumers boosted spending in January for the third straight month, suggesting that a tax hike at the start of the year did little to alter their behavior. Consumer spending advanced a seasonally adjusted 0.2% last month, which matched the estimate of economists polled by MarketWatch. ...

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