Los Angeles Business Journal

Payroll Tax Whacks Spending

Friday, February 22, 2013

Wal-Mart Stores Inc. on Thursday joined a parade of retailers, restaurants and consumer-goods companies worried about the economic impact of the recently restored federal payroll tax that has left Americans with less money to spend. The expiration of the payroll tax cuts that knocked 2 percent off consumers' take-home pay is having an impact, the Wall Street Journal reports.