Looming Economic Crisis: 75% of Americans Cutting Back On Spendin

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75% of Americans cutting back on spending, thanks to payroll tax hike
SPRINGFIELD, Mass. (WWLP) – The payroll tax hike that took effect as a result of the fiscal cliff is taking a toll on many Americans’ household budgets.
That change in federal tax law means people are taking home smaller paychecks, and that’s forcing nearly 75% of Americans to cut back on spending, according to theNational Retail Federation.
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